Solution Mining Market with COVID-19 Impact Analysis, By Product (Lithium, Trona, Borates, Potash, Magnesium and Others), By Mining Type, By Country, and By Region Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
REPORT HIGHLIGHT
Solution Mining Market size was valued at USD 20,407.6 Million in 2022, expanding at a CAGR of 4.8% from 2023 to 2030.
The process of producing salt (or potash, or other soluble goods) by pumping water into the world's vast subsurface salt deposits, dissolving the salts, and then pumping the brine to the surface for drying and further use is known as solution mining.
Solution Mining Market- Market Dynamics
In order to get the needed mineral, the water is subsequently removed from the solution using the evaporation method. Solution mining in North America depends on the U.S. market. According to the U.S. Environmental Protection Agency (EPA), there are 165 mining sites in the nation with roughly 18,500 class III injection wells for solution mining to recover salt, copper, sulfur, and uranium. Over the next few years, solution mining technology investment is anticipated to increase due to the rising demand for minerals and the shift in emphasis towards less carbon-intensive mining.
In addition, this approach reduces engineering risk in comparison to conventional mining because the extraction wells, which are restricted to a single place for ore mining, are location-agnostic. The technology also makes it possible to relocate the business for a far smaller outlay of cash. Even while it has advantages over traditional mines, this technology uses a lot more water and energy. This raises operating expenses, which results in high carbon price. Pregnant solutions can also be quite caustic and hazardous to humans. The solution has the potential to interact with the soil components used in pond building and to spread to nearby areas through wind-borne spray, seepage, and overflow.
Solution Mining Market- Segmentation Analysis:
Based on the product, in 2022, the potash segment is expected to capture the largest market share during the forecast period. Potash solution mining involves dissolving the ore body in brine or water, pumping the water to the surface, and recovering the potash through recrystallization. Additionally, potash is mined using methods including conventional and cut and fill stope mining. Solution mining for the extraction of potash is more affordable and worker-safe than traditional methods. Besides, the lithium is rapidly gaining popularity and will experience a profitable CAGR in terms of sales during the predicted period. The most stable inorganic substance is lithium carbonate (Li2CO3), which is used to create other substances like lithium hydroxide (LiOH) and even pure lithium.
Solution Mining Market- Geographical Insights
In 2022, North America's revenue share was the highest. The region is among the world's top operators of the solution mining method. Mineral consumption is anticipated to increase in a number of end-use industries, including agriculture, the automobile, energy, and consumer goods sectors. Over the projected period, Europe is anticipated to develop at a consistent CAGR. The focus on lowering carbon emissions and implementing sustainable mining practises by the local government is responsible for the development of technology in Europe. In the upcoming years, it is projected that this would lead to an increase in solution mining investments in Europe. Asia Pacific accounted for a sizable portion of global revenue in 2022. The rise of the Asia Pacific mining sector has been spurred by the region's expanding metals consumption. However, due to a lack of technological breakthroughs in the region, solution mining adoption encounters difficulties. For instance, active and prospective regional potash resources are known to exist on Thailand's Khorat Plateau. However, because of brine disposal options, this region is experiencing difficulties with the construction and growth of a proper potash sector.
Solution Mining Market- Recent Development:
- In June 2022, Corning Inc. and Intrepid Potash signed a non-binding agreement of intent for the supply of lithium and boron materials, as well as technological collaboration to develop innovative materials. The rising demand for minerals has compelled significant businesses to enter new markets.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SOLUTION MINING MARKET KEY PLAYERS
- Mosaic
- Glencore International.
- Vale S.A.
- The Metallurgical Corp. Of China.
- Anglo American plc.
- 5E Advanced Materials, Inc.
- Eti Soda Elektrik
- Intrepid Potash
- K+S Potash Canada GP
- Nutrien Ltd
- Mosaic
- Nedmag B.V.
- BHP Group.
- Rio Tinto.
- China Shenhua Energy Company Limited.
- China Coal Energy Company Limited.
GLOBAL SOLUTION MINING MARKET, BY PRODUCT
- Lithium
- Trona
- Borates
- Potash
- Magnesium
- Others
GLOBAL SOLUTION MINING MARKET, BY MINING TYPE
- Surface
- Underground
GLOBAL SOLUTION MINING MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
Rest of MEA
TABLE OF CONTENT
1. Solution Mining Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Solution Mining Market Snippet by Product
2.1.2. Solution Mining Market Snippet by Mining Type
2.1.3. Solution Mining Market Snippet by Country
2.1.4. Solution Mining Market Snippet by Region
2.2. Competitive Insights
3. Solution Mining Key Market Trends
3.1. Solution Mining Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Solution Mining Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Solution Mining Market Opportunities
3.4. Solution Mining Market Future Trends
4. Solution Mining Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Solution Mining Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Solution Mining Market Landscape
6.1. Solution Mining Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Solution Mining Market – By Product
7.1. Overview
7.1.1. Segment Share Analysis, By Product, 2022 & 2030 (%)
7.1.2. Lithium
7.1.3. Trona
7.1.4. Borates
7.1.5. Potash
7.1.6. Magnesium
7.1.7. Others
8. Solution Mining Market – By Mining Type
8.1. Overview
8.1.1. Segment Share Analysis, By Mining Type, 2022 & 2030 (%)
8.1.2. Surface
8.1.3. Underground
9. Solution Mining Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. Solution Mining Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Solution Mining Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.9.4. France Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Solution Mining Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.6.4. India Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.7.4. China Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Solution Mining Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Solution Mining Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By Mining Type, 2018 - 2030 (US$ Million)
10. Key Vendor Analysis- Solution Mining Industry
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Mosaic
10.2.2. Glencore International.
10.2.3. Vale S.A.
10.2.4. The Metallurgical Corp. Of China.
10.2.5. Anglo American plc.
10.2.6. 5E Advanced Materials, Inc.
10.2.7. Eti Soda Elektrik
10.2.8. Intrepid Potash
10.2.9. K+S Potash Canada GP
10.2.10. Nutrien Ltd
10.2.11. Mosaic
10.2.12. Nedmag B.V.
10.2.13. BHP Group.
10.2.14. Rio Tinto.
10.2.15. China Shenhua Energy Company Limited.
10.2.16. China Coal Energy Company Limited.
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
