Mining Waste Management Market Outlook - 2027
Many companies are involved in the mining sector, which performs daily operations such as extraction, and mining. The activities involved in mining operations include processing of minerals, beneficiation, and extraction produces of large amount of waste. In extraction process waste, including soil, debris, and other waste materials, which cannot be reused are created. The amount of waste generated from mining activity depends on how big is that mine. If the size of mine is bigger, more waste is generated during the mining processes.
COVID-19 scenario analysis:
- The demand for mining waste management is expected to decrease in 2020 due to low demand from different industries, such as mining, owing to the lockdown imposed by governments of many countries.
- COVID-19 pandemic has shut-down the production of various products in the mining waste management industry, owing to the prolonged lockdown in major global countries. This has hampered the growth of the mining waste management market significantly from last few months, and is likely to continue in 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is estimated to cause a negative impact on the market growth over the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which have been badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Mining waste management is a big problem for mining companies and they are trying to find different solutions to solve this problem. Extraction process is the initial process of mining in which mineral ore is removed from the earth’s crust with the help of blasting, where large amount of waste material is generated. Therefore, effective management should be employed by companies so that the minerals can be utilized for longer period of time and proper disposal of waste material must be ensured to prevent the hazardous effect on the environment. Contamination of water, soil, and air should be reduced so that pollution level can be controlled.
There are two mining methods, underground mining and opencast mining. In opencast mining, more waste is generated compared to underground mining. Waste generated in opencast mining is almost 9 to 10 times more than underground mining. Large amount of waste is generated in the mining industry. 1 ton of copper produces almost 200 tons of overburden and 100 tons of waste ore. The mining industry has been witnessing growth across the globe in last few years. However, the companies are looking for efficient and effective waste management solution to reduce the effects on human being and environment. Therefore, this is estimated to be the key driving factor for the growth of the mining waste management market.
Different types of waste are generated, such as tailings and waste rock, while performing various steps in the mining process. Tailing is the type of waste, which is produced during the beneficiation process. Tailings are generated in the form of slurry, which contains some hazardous material such as pyrite, mercury, fluorite, cyanide, and arsenic. These tailings are stored in tailings dam and proper disposal is necessary to avoid the hazardous effects on environment and human beings. For disposal of tailings, different methods are used such as underground disposal, dry sacking, and pond storage.
New product launch
Many companies in the mine waste disposal market are trying to produce various machines, which can be used for the effective disposal of mining waste. These products are technologically advanced and can perform the disposal in very efficient manner. For example, in March 2020, Eddy Pump in collaboration with UAT Pacific launched a new product, dredge sled. This product comes with the new technology and can be very effective in slurry and sludge removal process. In addition, dredge sled is a low cost machine and requires less maintenance.
Key benefits of the report:
- This study presents the analytical depiction of the mining waste management market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the mining waste management market share.
- The current market is quantitatively analyzed to highlight the mining waste management market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Mining Waste Management Market Report Highlights
By Mining Type
By Mineral Type
By Waste Type
Key Market Players
Tetra Tech, Inc., Tetronics International, Teck, Global Mining Solutions, Interwaste Holdings Ltd., Amec Foster Wheeler Ausenco EnviroServ, Golder Associates, Hatch Ltd., Veolia Environnement, Toxfree Solutions Ltd., Aevitas