As per the latest survey report of the IEA (International Energy Agency), Europe as a whole is looking forward to doubling its coal production by the year 2021, while its petroleum consumption is remaining flat or even increasing slightly. The increased growth in the European economy is primarily driven largely by fast growth in the car industry and a rising preference for plastics (petrol-based products) above other fuels. Moreover, the rising demand for mining floatation chemicals for extracting precious metals like lithium, graphite, and cobium is predicted to further boost the growth of this sector worldwide. The rising demand and availability of mining floatation chemicals also provide an opportunity to companies engaged in refining and producing metal compounds to increase their production.
The rising demand and availability of mining chemicals for the automotive industry can be attributed to the increased profitability in this sector. With the availability of Petroleum Products like gasoline, diesel, and lubricants, the demand and availability of mining floatation chemicals will rise. As far as the demand is concerned, rising demands in Europe's automobile manufacturing sector will provide an additional push towards the European markets. While the American market, where petroleum-based products constitute a major portion of the overall vehicle sales, also looks to expand its market share.
The world's most important mineral, oil, accounts for much of the floatation market's overall value. Crude oil is the most important resource, and also accounts for much of the world's mining floatation chemicals. Crude oil represents a large proportion of the world's supply, so advances in this resource would significantly impact the global cost per ton of the product. The two most important categories of minerals in the global market include petroleum-based products and methanol.
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