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The mining waste management market share is expected to increase by 12.96 billion tons from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 3%.
This mining waste management market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers mining waste management market segmentation by type (waste rock and tailing) and geography (APAC, North America, Europe, South America, and MEA). The mining waste management market report also offers information on several market vendors, including Ausenco Ltd., EnviroServ Waste Management (PTY) Ltd., Golder Associates Corp., Hatch Ltd., John Wood Group Plc, Ramboll Group AS, SECHE ENVIRONNEMENT Group, Teck Resources Ltd., Tetra Tech Inc., and VEOLIA ENVIRONNEMENT SA among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing demand for precious metals and minerals is notably driving the mining waste management market growth, although factors such as CAPEX decline in mining industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the mining waste management industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Mining Waste Management Market Driver
One of the key factors driving growth in the mining waste management market is the increasing demand for precious metals and minerals. The demand for various precious materials such as platinum, diamond, gold, and silver has increased significantly across the world. The rapid increase in disposable income across the world is expected to raise the demand for precious materials in the growing urban population. The demand for precious metals is expected to originate mainly from rapidly growing economies, such as China and India, owing to the exponential growth of the middle-class population. The number of construction projects is rising significantly worldwide due to economic growth and rapid urbanization. This, in turn, is leading to the demand for various construction materials such as gravels, smaller stones, steel, and iron. Therefore, the growing demand for various precious materials and minerals is increasing the demand for mining activities, which, in turn, is boosting the growth of the global mining waste management market.
Key Mining Waste Management Market Trend
The evolution of waste management techniques to suit low-grade ores is a mining waste management market trend that is expected to have a positive impact in the coming years. The global mining waste management market is driven by the volume of waste generated at mining sites. The amount of waste generated at a mine site is directly proportional to the quality of ore grades. A striking trend has surfaced in the recent past that marks the shift of mining operations toward low-grade ores. The evolution of mining procedures over the last decade indicates that ore grades of the majority of mineral commodities are on a decline. The use of advanced water recycling technologies can reduce water use and wastewater discharge. The high requirement of advanced and energy-efficient technologies to reduce the operating cost of waste treatment is expected to drive the adoption of membrane separation, sulfide treatment, and metal recovery systems. The need for technological and process advances will fuel the growth of the global mining waste management market.
Key Mining Waste Management Market Challenge
The CAPEX decline in the mining industry will be a major challenge for the mining waste management market during the forecast period. In the past few years, mining-related investments have declined. Countries, where mining contributes significantly to the gross domestic product (GDP), have shown a decline in foreign direct investments. The decline in commodity prices always poses a threat to mining companies as it results in delayed investments in new mining projects. Silver, platinum, coal, copper, and iron ore have witnessed a decline in pricing over the past few years, unlike some metals such as copper and aluminum that have witnessed an increment in pricing. Fluctuations in commodity prices negatively affect investments in the mining sector. The slowdown of the Chinese economy is also one of the factors for the decline in investment in the mining sector. The capital expenditure is likely to remain low, as miners are focusing on overall cost-cutting to improve operating margins. Mining companies are focusing on project cancellations, retrenchment, and divestment of cost-intensive assets to balance books and thereby improve profit margins. This is likely to affect the global mining waste management market negatively.
This mining waste management market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global mining waste management market as a part of the global environmental and facilities services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the mining waste management market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the mining waste management market encompasses successful business strategies deployed by the key vendors. The mining waste management market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Golder Associates Corp. - The company offers integrated environmental and engineering services for mining waste management.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The mining waste management market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the mining waste management market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the environmental and facilities services market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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