The global Bioleaching market generated revenue of around USD 15 million in 2020 and anticipated to grow at a CAGR of over 4.9% during the forecast period from 2021 to 2027 to reach around USD 23 million in 2027.
Bioleaching (or biomining) is a mining and biohydrometallurgy (natural processes of interactions between microbes and minerals) method that uses microorganisms such as bacteria or archaea to extract precious metals from low-grade ore.
Key Trends in Global Bioleaching Market
Acting as Economic alternative
Among the available mining technologies, bioleaching is becoming increasingly relevant. Bioleaching is no longer a promising technology, but rather an actual cost-effective treatment option for particular mineral ores.
A significant portion of today’s large-scale bioleaching operations are in developing countries. This situation is influenced by the fact that many developing countries have substantial mineral reserves, as well as the characteristics of bioleaching, which make it particularly suitable for developing countries due to its ease of use and low capital cost.
New ways to finance mining
Novel funding and development models will become more popular as mining companies strive to reduce risk. Prices plummeted after China’s demand sparked a commodity boom in the first decade of the twenty-first century, forcing mining companies to concentrate on lowering debt levels and strengthening their balance sheets.
Alternative funding options, such as royalty and metal stream arrangements, have been established to relieve the financial strain on mining companies. These funding options are likely to continue to expand in order to spread the risk of new capital-intensive projects. Companies may also consider forming joint ventures, similar to those seen in the oil and gas industry, to limit their exposure to a specific project or jurisdiction, as well as service agreements.
Full report: https://www.credenceresearch.com/report/bioleaching-market
Global Bioleaching Market by Type Insights
Copper, Biomining, and Iron are some of the major types of Bioleaching process. Biomining segment hold high value for the bioleaching market in 2020.
Biomining Segment to Dominate the global Bioleaching market
Global Bioleaching Market by Application Insights
Based on applications, global bioleaching market is bifurcated into mining and others. Mining has acquired larger portion of the market size of the global bioleaching market in 2020.
Global Bioleaching Market by Regional Insights
Asia Pacific had highest share in global market and is anticipated to continue over the forecast period. India has numerous opportunities as there is high scope for exploration of ironore, coal and bauxite. The overall rise can be attributed to the continuous investments and higher infrastructure projects.
Latin America has also become popular in the global market as there is explode in mineral exploration activities owing to higher investments in this sector. Countries like Peru and Chile have abundant copper and gold mines, which also resulted in greater global exploration of metals. Also, lenient mining regulation for overseas investors has contributed in the growth of the market.
Global Bioleaching Market Competitive Landscape
Most prominent players in the global Bioleaching market include Rio Tinto Plc, BacTech, Rio Algom Ltd, Freeport-McMoRan Copper and Gold Inc., Bindura Nickel Corporation, Teck Resources Ltd, BHP, Denison Mines Corp, Newmont Corporation, Nyrstar NV, and Anglo American. The report covers very detailed profiles of these key players.
Global Bioleaching Market by Type, 2015 – 2027
Global Bioleaching Market by Application, 2015 – 2027
Global Bioleaching Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Bioleaching Market: Key Players
· Rio Tinto Plc
· Freeport-McMoRan Copper and Gold Inc.
· Rio Algom Ltd
· Teck Resources Ltd
· Bindura Nickel Corporation
· Denison Mines Corp
· Newmont Corporation
· Nyrstar NV
. Anglo American
Browse Full Report: Sample Request – Credence Research
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.
Company Name: Credence Research
Contact Person: Chris Smith
Email: Send Email
City: SAN JOSE
Country: United States