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Mining Waste Management Market Worth 233.56 Billion Tons by 2022

Thursday, January 11th, 2018

The growth of the Mining Waste Management Market can be attributed to increasing mining operations due to the demand for metals from the automotive industry and the power & utility sector in emerging economies, and the development of various infrastructures globally. Furthermore, growing concerns to reduce pollution are also fueling the growth of the Mining Waste Management Market.

The surface mining method segment of the Mining Waste Management Market is projected to grow at the highest CAGR during the forecast period.

Based on mining method, the surface segment of the Mining Waste Management Market is projected to grow at the highest CAGR during the forecast period. Surface mining includes both, open-pit and open-cut mining methods and the waste generated through surface mining techniques is much more as compared to the waste generated by the underground mining method. More than 80% of the global mines adopt the open-pit or open-cut mining methods, and thus, the quantum of waste generated is much higher. This factor is anticipated to drive the surface segment.

Based on metals/minerals, the thermal coal segment is projected to lead the Mining Waste Management Market from 2017 to 2022.

Based on metals/minerals, the thermal coal segment is projected to lead the Mining Waste Management Market during the forecast period. Thermal coal is widely used in generating power and energy and is used in cement production. The growth of the power & energy sector and the increasing demand for cement from the global building construction market are likely to drive the thermal coal segment. The rise in thermal coal exploration activities across the globe will also drive the Mining Waste Management Market in the coming years.

Based on waste type, the tailings segment of the Mining Waste Management Market is projected to grow at the highest CAGR during the forecast period.

Based on waste type, the tailings segment is expected to grow at the highest CAGR during the forecast period. Tailings are water-based waste products left after the removal of gangue from ores during surface mining operations. Tailings are stored on the surface of the Earth in the form of dry stacks. They are also stored underground using the backfill process. Tailings mining waste is widely generated during the production and exploration of thermal coal, iron ore, copper and coking coal, and other metals & minerals. The demand for coal from power & energy sector is increasing, along with the demand for various metals and minerals from various end-use industries. The production and exploration of these metals and minerals are expected to generate a huge amount of mining waste, which will drive the Mining Waste Management Market in the coming years.

Asia Pacific is expected to account for the largest share of the Mining Waste Management Market in 2022.

The Asia Pacific is expected to account for the largest share of the Mining Waste Management Market in 2022. China, Australia, Kazakhstan, and India are the key countries in the region contributing significantly to the Mining Waste Management Market. Increasing population, rapid industrialization, and improving economic conditions are the major factors that are expected to fuel the growth of various end-use industries, such as automotive, electrical & electronics, power & energy, construction, and chemical in the region. The increasing demand for metals & minerals and coal from these end-use industries is expected to propel the growth of the Mining Waste Management Market in the region.

https://www.marketsandmarkets.com/Market-Reports/mining-waste-management-market-104930371.html

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