- Rising demand to minimize harmful and toxic dust particles in the work environment driving global dust suppressants market.
NEW YORK, June 22, 2021 /PRNewswire/ -- The global dust suppressants market registered positive growth in 202, reaching valuation of US$7.3 billion. A new forecast by Fact.MR estimates that dust suppressants market revenues will grow steadily at compound annual growth rate (CAGR) of 5.5% in forecast period 2021-2031.
Manufacturers are consistently improving suppressants compositions for a variety of applications in end-user industries such as mining, construction, food and beverages, oil and gas industry, thermal power, and others. Thus, increasing demand for dust control solutions in industries is driving dust suppressants market growth.
According to World Mining Data 2020, China holds high share in overall world mining output with capacity of 4186.1 million tons. Russia, China, Brazil, India, and the U.S. are among the key countries with highest mining output, accounting for more than 40% of total output. Surging mining output by different mining industries across the world is accelerating demand for dust suppressants.
"Key players in the dust suppressants market are focusing on increasing production capacity and expanding their presence across countries to gain competitive edge. Thanks to stringent government regulations pertaining to occupational health and safety standards for industries, market players have impressive opportunities for growth," said a Fact MR analyst.
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Key takeaways:
- The U.S. is anticipated to dominate the global dust suppressants market surging at 2.8% in forecast period due to easy access of raw material.
- China accounted over 60% of East Asia dust suppressants market. Thus, China will emerge as most lucrative market in coming years.
- The undiscovered mining potential in India is expected to provide growth opportunities for the dust suppressants market.
- Wet dust suppressants hold around 95% market share, and the segment is expected to expand at 5.5% CAGR through 2031.
- Mining, as an end-use industry accounts for over 50% of overall demand for dust suppressants in 2020.
Growth Drivers:
- Implementation of advanced technology and demand for remote controlled systems will drive dust suppressants market.
- Increasing awareness regarding dust control systems and smart manufacturing in the mining industry will drive global dust suppressants market growth.
- Increased investment by key players is fueling growth of the dust suppressants market.
Key restraints:
- Lack of skilled labor for dust suppressant operations hampering market growth.
- Lack of awareness among general population is restraining the growth of the global dust suppressant market.
- High cost required for dust suppressants manufacturing impeding market growth.
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Competitive Landscape
According to Fact MR, Quaker Chemical Corporation, DOW, Arclin Inc., Ecolab, SUEZ, and BASF, which together accounted for 55% share of global revenue in 2020.
Key players are focusing on strategies to increase market revenue.
More Valuable Insights on Dust Suppressants Market
Fact.MR, in its new report, offers an unbiased analysis of the global dust suppressants market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in dust suppressants market on the basis of technology (wet suppressants and dry suppressants), type (hygroscopic suppressants(calcium chloride, magnesium chloride, blend of calcium and magnesium chloride, and others)and adhesives (lignosulfonate and calcium lignosulfonate), petroleum emulsion, polymer emulsion, electro-chemicals, and others), and end-use industry (mining, construction, food & beverages, oil & gas industry, thermal power, and others) across six major regions of the world (North America, Latin America, Europe, East Asia, South, West Asia, and the Middle East and Africa).
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Key Questions Covered in the Report
- How will dust suppressants market expand until 2031?
- Which is likely to be the most promising market for dust suppressants?
- Which region is the most prominent growth contributor for dust suppressants market?
- Which dust suppressants product is expected to generate most revenue?
- What are the key restraints for dust suppressants market?
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