Mining waste management: Key market research findings
- Focus on curbing emission drives market growth
- Waste rock accounts for a majority of the market’s revenue
- Key vendors – Amec Foster Wheeler, EnviroServ, Interwaste, and Veolia Environnement
The industry experts at Technavio predict the global mining waste management market to grow at a CAGR of around 2% between 2016 and 2020. The growth of this market attributes to the increasing focus on the reduction of carbon emissions. The reduction of carbon emissions from the mining operations can be achieved through the implementation of new-age mining waste management programs. The capturing of carbon dioxide from mining wastes is one of the most relevant methods for the reduction of emissions from these operations. Currently, the Americas dominate the global mining waste management market with a market share of around 39%. The revival of global metals demand coupled with the high supply base in the region are expected to contribute to the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the mining waste management segments based on the waste type.
“Mining dam failure cases in the recent past have created awareness among the global audience about the horrific risks associated with mining operations. Therefore, the time is crucial for the mining operators to focus on the reinforcement of the older dams and improve the design aspects of the ones to be built in the future. Among all the critical parameters in ensuring the stability of the mine tailings dams, one that stands out is the criticality of geotechnical factors. Effective management is the solution to making mining operations more sustainable in the future,” says Thanikachalam Chandrasekaran, Lead Analyst, Energy, Technavio Research.
During 2015, the waste rock segment accounted for around 78% of the overall market share to become the key revenue generating vertical of the global market. In terms of volume of waste generated, the waste rock segment of the global mining waste management market had a valuation of more than 31 billion tons. The revival of the mining industry in the coming years is expected to have a positive impact on the growth of the global mining waste management market for waste rock by 2020.
The key vendors in the global mining waste management market include Amec Foster Wheeler, EnviroServ, Interwaste, and Veolia Environnement. The current market scenario for the global mining waste management market can be considered to have a significant amount of fluctuations in the forecast period. The primary reason for this trend can be attributed to the times the global mining industry is traversing through. With global prices of metals and minerals at historical lows, the mining industry is focused on better utilization of the cut-down capital available. This particular phenomenon has trickled down to the mining waste management domain as well and is distinct from the low levels of growth expected in the market.
A more detailed analysis is available in the Technavio report, Global Mining Waste Management Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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