The rapid growth in the mining industry is one of the major factors boosting the demand for froth flotation equipment. The high proportion of Investments in mining and mineral processing industries in Asia-Pacific and South America drive the demand for flotation equipment in these regions. Rapid growth in industrialization and urbanization in key countries such as China and India have hiked the demand for metals and minerals in the recent years. China is a leading producer of rarely found earth metals, gold, copper, coal, limestone, and iron & steel, while India has witnessed significant investments in the iron & steel industry over the recent five years. However, developed countries of North America and Europe have witnessed negative growth in the mining industry owing to the factors such as strict environmental regulations, high energy costs, weak domestic demand, and low profitability have contributed to the decline in the industry’s growth.
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Additionally, to improve capital and operational costs per unit of metals produced, large-size mining and mineral processing equipment are in demand. The benefits of the large size flotation cell are less floor space, low power consumption, low wear rate, high selectivity, reduction in reagent consumption, and easy start upon full load. Thus, industries are more focused on the demand for these large-size flotation cells. This provides an opportunity for the froth flotation equipment market.
However, environmental concern is the major challenge for market growth. Routine mining operations result in the erosion of exposed soils, extracted minerals ores, and fine materials in waste rock piles that might bring substantial sediment loading to surface waters and drainage ways. In addition, spills and leaks of hazardous chemicals, coupled with the deposition of contaminated windblown dust, contribute significantly to soil contamination.
- In September 2020, the Private equity company Investindustrial completed the acquisition of a 73.5% stake in Della Toffola, a provider of automated machines. This will help in growth and its international expansion and aim to strengthen its positioning in the market.
- In February 2020, Metso Outotec announced a new product under the Outotec Tankcell S series which is designed to enhance output, grades, and recovery of ores with cost-effective standardized equipment. This new product has widened the company’s product portfolio for froth flotation equipment.
- In July 2019, Metso Minerals and Outotec undergoes into merger to form a joint company named Metso Outotec. This will result in enhancement of a leading company in minerals, metals, and aggregates industry that provides process technology, equipment, and services.
- In October 2019, FLSmidth and Rio Tinto (US) have executed an agreement for five-year, fixed term Global Framework Agreement (GFA) which allows the two companies to engage on the production of fixed equipment, including mineral processing, material handling technologies, spare parts, consumables, maintenance, consultancy, and professional services.
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Key Benefits of the Report
- This study presents the analytical depiction of the froth floatation equipment industry along with the 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 froth floatation equipment market share.
- The current market is quantitatively analyzed from 2020 to 2028 to highlight the froth floatation equipment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed froth floatation equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 Impact analysis
- The outbreak of novel coronavirus pandemic has affected people in more than 100 countries across the world. Several countries are under strict lockdown, which has bound several industries to shut down their operations. Mining activities are at a halt, and this has reduced the demand for froth flotation equipment due to lockdown.
- During the pandemic, wastewater treatment and paper recycling plants were also temporarily on halt, which resulted in decline in requirement of froth flotation equipment in these industries, which in turn has an adverse impact on the market growth.
- The froth flotation equipment market is expected to witness a slowdown, owing to decline in demand and supply chain disruptions due to the global COVID-19 outbreak.
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