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PUBLISHER: Grand View Research | PRODUCT CODE: 1233147
PUBLISHER: Grand View Research | PRODUCT CODE: 1233147
Solution Mining Market Size, Share & Trends Analysis Report By Product (Magnesium, Lithium, Potash, Borates, Trona), By Region (North America, Europe, Asia Pacific, MEA), And Segment Forecasts, 2023 - 2030
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Solution Mining Market Growth & Trends:
The global solution mining market size is expected to reach USD 27.36 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 4.0% during the forecast period. Lithium is of vital importance in today's world where there is growing emphasis on the application of renewable energy. Lithium production via solution mining is anticipated to prove fruitful for market growth. Solution mining is also known as the In-situ Leaching (ISL) or In-situ Recovery (ISR) process. The minerals are recovered from the ore by leaching liquids through the ground. In this process, there is a very low surface disturbance, and no tailings or waste rock is generated. Lithium, trona, borate, potash, and magnesium are some of the products obtained via this technology.
These products are extensively used in various end-use industries. For instance, lithium is used in electric vehicles for manufacturing batteries. The potash product segment accounted for the largest revenue share in 2022. Potash can be mined with the solution mining process cost-effectively and securely. This method is hence conventionally popular and is expected to continue further during the forecast period. Lack of fertilizer and nutrients in the soil gradually leads to a decline in crop yields. To combat this and increase crop yield, the demand for potash is expanding, which is positively impacting the market growth. North America is one of the leading operators of solution mining in the world. Due to the high demand for boron products in the U.S., companies are investing in new mining products.
For instance, in June 2021, American Pacific Borates Ltd. decided to establish a specialty boron product, wherein the company is expected to start an integrated manufacturing facility, which includes a solution mine, solar-operated pond, boric acid plant, and specialty production. Various growth strategies, such as new product development and capacity expansion, by producer and buyer market players, are likely to benefit the industry growth. For instance, in April 2022, the Canadian government announced an investment of USD 2 billion to accelerate the production and processing of critical minerals for the Electric Vehicle (EV) battery supply chain. Thus, this investment ramps up the extraction and processing of critical minerals, such as lithium, nickel, and cobalt.
Solution Mining Market Report Highlights:
- The potash segment held the largest revenue share in 2022. Growing crop production is propelling the demand for fertilizers and thus, positively influencing the production of potash
- In terms of revenue, lithium is anticipated to register a significant CAGR during the forecast period owing to its rising demand for EV batteries and renewable energy-related applications
- Asia Pacific accounted for the maximum revenue share in 2022 and will expand further at a steady CAGR from 2023 to 2030
- In January 2021, the Government of Rajasthan (India), Mineral Exploration Corp. Ltd. (MECL), and Rajasthan State Mines & Minerals Ltd. (RSMML) signed a tripartite agreement for conducting feasibility studies related to solution mining of potash in Rajasthan, India. It is India's first solution mining site
- The market is characterized by intense competition owing to the presence of a number of players entering into long-term supply contracts with end-users
Product Code: GVR-4-68040-032-7
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Research Methodology
- 1.4. Research Scope and Assumptions
- 1.5. Information Procurement
- 1.5.1. Purchased Database
- 1.5.2. GVR's Internal Database
- 1.5.3. Secondary Sources
- 1.5.4. Third Party Perspective
- 1.5.5. Primary Research
- 1.6. Information Analysis
- 1.6.1. Data Analysis Models
- 1.7. Market Formulation and Data Visualization
- 1.8. Data Validation and Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends & Scope
- 3.1. Market Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Value Chain Analysis
- 3.4. Technology Trends
- 3.5. Regulatory Framework
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Industry Challenges
- 3.7. Industry Analysis- Porter's
- 3.8. PESTEL Analysis
Chapter 4. Solution Mining Market: Product Estimates & Trend Analysis
- 4.1. Definition & Scope
- 4.2. Product Movement Analysis & Market Share, 2022 & 2030
- 4.3. Lithium
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.4. Trona
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.5. Borates
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.6. Potash
- 4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.7. Magnesium
- 4.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.8. Others
- 4.8.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Solution Mining Market: Regional Estimates & Trend Analysis
- 5.1. Regional Snapshot
- 5.2. Regional Movement Analysis & Market Share, 2022 & 2030
- 5.3. North America
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.3.3. U.S.
- 5.3.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.3.4. Canada
- 5.3.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Europe
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.3. Germany
- 5.4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.4. Turkey
- 5.4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.5. Russia
- 5.4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Asia Pacific
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.5.3. China
- 5.5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.5.4. India
- 5.5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.6. Latin America
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.6.3. Mexico
- 5.6.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.6.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.7. Middle East & Africa
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.7.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 5.7.3. South Africa
- 5.7.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.7.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Competitive Analysis
- 6.1. Recent Developments & Impact Analysis, By Key Market Participants
- 6.2. Company /Competition Categorization
- 6.3. Vendor Landscape
- 6.3.1. List of Prominent Manufacturers
- 6.3.2. List of Prospective End-Users
- 6.4. Solution Mining: Cost Outlook
- 6.4.1. Lithium
- 6.4.2. Potash
Chapter 7. Solution Mining Market: Company Profiles
- 7.1. Vale
- 7.1.1. Company Overview
- 7.1.2. Financial Performance
- 7.1.3. Product Benchmarking
- 7.2. 5E Advanced Materials, Inc.
- 7.2.1. Company Overview
- 7.2.2. Financial Performance
- 7.2.3. Product Benchmarking
- 7.3. Eti Soda Elektrik
- 7.3.1. Company Overview
- 7.3.2. Product Benchmarking
- 7.4. Intrepid Potash
- 7.4.1. Company Overview
- 7.4.2. Financial Performance
- 7.4.3. Product Benchmarking
- 7.5. K+S Potash Canada GP
- 7.5.1. Company Overview
- 7.5.2. Financial Performance
- 7.5.3. Product Benchmarking
- 7.6. Nutrien Ltd
- 7.6.1. Company Overview
- 7.6.2. Financial Performance
- 7.6.3. Product Benchmarking
- 7.7. Mosaic
- 7.7.1. Company Overview
- 7.7.2. Financial Performance
- 7.7.3. Product Benchmarking
- 7.8. Nedmag B.V.
- 7.8.1. Company Overview
- 7.8.2. Product Benchmarking
Product Code: GVR-4-68040-032-7
List of Tables
- Table 1 Solution mining market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Table 2 Solution mining market estimates and forecasts, by lithium, 2018 - 2030 (Kilotons) (USD Million)
- Table 3 Solution mining market estimates and forecasts, by trona, 2018 - 2030 (Kilotons) (USD Million)
- Table 4 Solution mining market estimates and forecasts, by borates, 2018 - 2030 (Kilotons) (USD Million)
- Table 5 Solution mining market estimates and forecasts, by potash, 2018 - 2030 (Kilotons) (USD Million)
- Table 6 Solution mining market estimates and forecasts, by magnesium, 2018 - 2030 (Kilotons) (USD Million)
- Table 7 Solution mining market estimates and forecasts, in other products, 2018 - 2030 (Kilotons) (USD Million)
- Table 8 North America solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 9 North America solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 10 North America solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 11 U.S. solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 12 U.S. solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 13 U.S. solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 14 Canada solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 15 Canada solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 16 Canada solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 17 Europe solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 18 Europe solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 19 Europe solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 20 Germany solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 21 Germany solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 22 Germany solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 23 Turkey solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 24 Turkey solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 25 Turkey solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 26 Russia solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 27 Russia solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 28 Russia solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 29 Asia Pacific solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 30 Asia Pacific solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 31 Asia Pacific solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 32 China solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 33 China solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 34 China solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 35 India solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 36 India solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 37 India solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 38 Latin America solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 39 Latin America solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 40 Latin America solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 41 Mexico solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 42 Mexico solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 43 Mexico solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 44 Middle East & Africa solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 45 Middle East & Africa solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 46 Middle East & Africa solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 47 South Africa solution mining market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 48 South Africa solution mining market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 49 South Africa solution mining market estimates and forecasts, by product, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Solution mining market segmentation
- Fig. 2 Information procurement
- Fig. 3 Primary research pattern
- Fig. 4 Primary research process
- Fig. 5 Primary research approaches
- Fig. 6 Market snapshot
- Fig. 7 Segment outlook
- Fig. 8 Solution mining market-Competitive insights
- Fig. 9 Penetration & growth prospect mapping
- Fig. 10 Value chain analysis
- Fig. 11 Market dynamics
- Fig. 12 Market driver analysis
- Fig. 13 Market restraint analysis
- Fig. 14 Solution Mining market: Product movement analysis, 2022 & 2030 (%)
- Fig. 15 Solution Mining market: Regional movement analysis, 2022 & 2030 (%)
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