Crusher Backing Materials Market
Crusher Backing Materials Market (Application: Cone Crushers, Gyratory Crushers, Stone Crushers, Grinding Mills, and Others; and End-use Industry: Mining & Smelting and Building & Construction) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Floor Plan Change Minimizes Unsafe Interaction in Facilities amidst COVID-19 Outbreak
Companies in the crusher backing materials market are maintaining clean production facilities and providing employees with necessary supplies for work-from-home routine. Canada’s distributor of maintenance, repair, and operational supplies has stepped in to maintain uninterrupted supply chains for its clients amidst the ongoing coronavirus (COVID-19) pandemic and emphasizes on social distancing norms in facilities. Thus, emerging market players are taking cues from such companies to establish signage and floor markings in production facilities amidst the COVID-19 pandemic.
Floor plan change and ensuring work-from-home supplies for employees is helping manufacturers to boost their credibility credentials in the global crusher backing materials market landscape. Companies are redesigning their facilities to reduce the density of occupants and minimize unsafe interaction. Moreover, clearly marked areas help remind employees to practice physical distancing and ensure interaction in a safe manner.
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Solids Epoxy Compounds in Materials Help Eliminate Gaps between Liners
There is a growing demand for crusher backing materials for cone crushers and grinding mills operating under normal conditions. Manufacturers are innovating in 100% solids epoxy compounds for producing crusher backing materials that back wear plates in cone crushers. For instance, Henkel Adhesives-a specialist in adhesives, functional coatings, and sealants is gaining popularity for its LOCTITE® Nordbak Backing Material, which is made from 100% solids epoxy compounds, and offers high compressive strength and impact resistance in materials.
Advantageous attributes of crusher backing materials made from 100% solids epoxy compounds, such as high volumetric stability and non-flammable properties are being highly preferred by end users in the mining and smelting industries. This explains why the crusher backing materials market is projected to reach a value of US$ 33 Mn by the end of 2030. High volumetric stability of crusher backing materials made from solids epoxy compounds helps to eliminate gaps between liners.
Advanced Crushers Pose a Threat for Crusher Backing Material Sales
The crusher backing materials market is slated to expand at a modest CAGR of ~4% during the assessment period. This is evident since certain companies are developing crushers and grinding mills that do not need crusher backing materials. This may affect revenue sales of crusher backing materials, thus lowering revenue collection. Thus, manufactures in the crusher backing materials market should leverage incremental opportunities in developing economies where there is high demand for these materials.
Engineering crushers and grinding mills that eliminate the need for crusher backing materials can be potentially cost-intensive. Since end users of the building and construction industry in developing economies are cash-strapped and have limited capital expenditure, they are more likely to opt for crushers and grinding mills that require crusher backing materials.
High Popularity of Epoxy Products Increase Uptake of Materials
Epoxy crusher backing materials are gaining increased popularity in the crusher backing materials market. This can be attributed to the rise in sales and demand for epoxy products in the past few years. Hence, Copp Industries Inc. has strived to provide high-quality epoxy products, including epoxy crusher backing materials. Companies in the market for crusher backing materials are aiming to strengthen their supply chains in North America, Europe, and best-known countries in the Pacific Rim.
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Manufacturers in the crusher backing materials market are focusing on standardized backing compounds to tap into revenue opportunities for supplies meant for gyratory and stone crushers. They are increasing the availability of materials made with enhanced compressive strength and can withstand various heat distortion temperatures. Companies are taking the extra mile by improving their secondary services such as R&D activities, testing, and prototyping.
Automated and Hydraulic Cone Crushers Create High Demand for Crusher Backing Materials
Hi-tech crushers and powder grinding machinery are creating value-grab opportunities for companies in the crusher backing materials market. For instance, the Shanghai A&C Mining and Construction Machinery Co. Ltd., specializes in R&D for manufacturing state-of-the-art crushers and powder grinding machinery used in mining and construction industries. Lucrative opportunities for business expansion prevail in countries of Southeast Asia, Eastern Europe, and Latin America.
Companies are developing hydraulic cone crushers that significantly improve efficiency and production in mining and smelting industries. This is another key driver contributing toward the growth of the crusher backing materials market. Hydraulic crushing machinery with thin oil lubrication helps to improve the shelf life of crushers. This create a steady demand for crusher backing materials. Moreover, automation advancements in crusher machinery is creating a demand for crusher backing material products.
Manganese Cone Crusher Mantle Liners Create Stable Revenue Streams for Manufacturers
Manufacturers in the crusher backing materials market are experimenting with different crusher backing resins and crusher backing compounds to gain recognition in the mining industry. Various fleets of manganese cone crusher mantle liners are fueling the demand for crusher backing materials. Thus, companies in the crusher backing materials market are capitalizing on such opportunities to boost their production capacities. Cutting-edge series of jaw crushers, hydraulic gyratory crushers, and cone crushers are creating incremental opportunities for manufacturers.
Superfine grinding mills and vertical roller mills are being pervasively used in mining and smelting industries. High demand for primary crushers in India is another key driver for crusher backing material manufacturers. Primary applications in the mining industry such as crushing of mined ores and aggregate materials with the help of robust jaw crushers is surging worldwide.
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Maintaining air quality and special cleaning at production facilities is helping manufacturers to abide by the COVID-19 norms set by local and federal authorities. Apart from cone and stone crushers, manufacturers in the crusher backing materials market should make available products for jaw crushers and crusher buckets. However, advanced crushers that eliminate the need for crusher backing materials are potentially affecting the sales of these products. Hence, companies should focus on opportunities in developing economies, as end users opt for cost-efficient crushers and grinding mills that require crusher backing materials. They should increase production capabilities for epoxy products since these products are in high demand worldwide.
Crusher Backing Materials Market: Overview
- Crusher backing materials are used to eliminate gaps and misalignments behind the wear parts of a crusher and support the wear surface during crushing. Crusher backing compounds are also suitable for usage in various ancillary applications, such as filling, bonding, fastening, and grouting. These materials offer strong impact resistance, low shrinkage, and minimum filler settlement in containers.
- Crusher backing materials are manufactured by using different types of polymers, including epoxy resins, polyurethanes, and acrylics. Epoxy resins are widely used polymers in the manufacturing of crusher backing materials, due to their high performance and low price.
- Usage of crusher backing materials helps extend the life of machine components and equipment, minimizes downtime, and lowers the cost incurred for machine/part replacement
Key Drivers of Crusher Backing Materials Market
- The global crusher backing materials market is anticipated to expand at a significant pace during the forecast period. This growth can be ascribed to the rise in mineral exploration and mining activities, which is likely to boost the use of crushers in the mining industry in the near future.
- Demand for metals, minerals, and construction aggregates has been increasing over the past few years, owing to their extensive usage in various end-use industries. This, in turn, is driving mining activities, which require crushers. This factor is anticipated to boost the global crusher backing materials market during the forecast period.
- Leading manufacturers of crusher backing materials are developing advanced products with the combination of various polymers and hardeners. The development of new products is estimated to fuel the demand for crusher backing materials during the forecast period.
Major Challenges for Crusher Backing Materials Market
- New and technologically upgraded crusher machinery requires minimum maintenance. Some companies are developing upgraded crushers, which do not require backing materials. This upgrade in technology is projected to hamper the global crusher backing materials market during the forecast period.
- Regulations on mining are anticipated to become more stringent over the next few years due to increase in awareness about environmental impact caused by byproducts. Therefore, rise in environmental regulations is projected to adversely affect the crusher backing materials market.
- The COVID-19 pandemic has impacted a large number of countries across the globe. The shutdown in various countries across the globe has prohibited import of various materials, including crusher backing materials. This has adversely affected many industries.
Lucrative Opportunities for Crusher Backing Materials Market
- Companies manufacturing crusher backing materials can increase their distribution & sales channels to expand their global reach. Companies can opt for production capacity expansion to augment their product portfolios and geographic presence.
- The scope of use of crusher backing materials in mining, smelting, and construction industries can be explored in terms of new product formulations. Companies can also focus on the development of new products.
Asia Pacific to Dominate Crusher Backing Materials Market
- In terms of region, the global crusher backing materials market has been classified into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global market in 2019. This trend is estimated to continue during the forecast period. The region is projected to create lucrative opportunities for the crusher backing materials market in the near future.
- Increase in mining activities for production of metals, aggregates, and minerals to cater to the rising demand from various end-use industries in Asia Pacific is boosting the demand for crusher backing materials in the region. China is likely to lead the crusher backing materials market in Asia Pacific during the forecast period. It is expected to be followed by India.
- Grinding of aggregates is expected to offer significant opportunities for grinding mills and gyratory crushers application segments of the crusher backing materials market in Europe during the forecast period
Cone Crushers to be Key Application of Crusher Backing Materials
- Based on application, the cone crushers segment is estimated to expand at a significant pace during the forecast period. Crusher backing materials are shock-absorbing materials. They prevent wear of parts of crushers and enhance the life of machinery by protecting it from unnecessary damages, vibrations, friction, and impact during crushing operations.
- In terms of volume, the stone crushers segment is estimated to account for a considerable share of the market by 2030, owing to increase in demand for crusher backing materials in stone crushing across the globe
Mining & Smelting End-use Industry Holds Major Share of Crusher Backing Materials Market
- Based on end-use industry, the global crusher backing materials market has been divided into mining & smelting and building & construction. In terms of revenue, the mining & smelting segment constituted major share of the global market in 2019.
- Rapid industrialization and rise in usage of stone crushers in construction and mining industries in Asia Pacific are expected to fuel the demand for crusher backing materials
Key Players Operating in Crusher Backing Materials Market
- The global crusher backing materials market is fragmented. Large numbers of small- and medium-scale local suppliers of crusher backing materials operate in the market. Key players functioning in the global crusher backing materials market are
- Henkel Corporation Engineering Adhesives
- FLSmidth & Co. A/S
- ITW Performance Polymers
- ESCO Corporation
- Columbia Steel Casting Co., Inc.
- Copps Industries
- Monarch Industrial Product (I) Pvt Ltd
- Micor Company, Inc.
- HPZ Crusher Services Inc.
- Unnathi Enterprises
- FINSAD Group Oy
- G&S Chemicals
- Epoxa US.
Crusher Backing Materials Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global crusher backing materials market in order to accurately gauge its growth. The study presents detailed information about important growth factors, restraints, and trends that are creating a landscape for future growth of the global crusher backing materials market to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global crusher backing materials market would expand during the forecast period of 2020 to 2030.
The report offers intricate dynamics about different aspects of the global crusher backing materials market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global crusher backing materials market during the forecast period. It also includes a key indicator assessment that highlights the growth prospects of the global crusher backing materials market and estimates statistics related to growth of the market in terms of value (US$ Thousand) and volume (Tons).
This study covers a detailed segmentation of the global crusher backing materials market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global crusher backing materials market, wherein various development, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Crusher Backing Materials Market
The report provides detailed information about the global crusher backing materials market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global crusher backing materials market, so as to help them design successful strategies and make target-driven decisions.
- Which application segment of the global crusher backing materials market would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of crusher backing materials?
- What would be the Y-o-Y growth trend of the global crusher backing materials market between 2020 and 2030?
- What are the winning imperatives of leading players operating in the global crusher backing materials market?
- Which end-use industry segment is expected to create lucrative opportunities for the global crusher backing materials market during the forecast period?
- Which are the leading companies operating in the global crusher backing materials market?
Research Methodology – Crusher Backing Materials Market
The research methodology adopted by analysts for compiling the global crusher backing materials market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global crusher backing materials market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on the data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global crusher backing materials market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global crusher backing materials market.
Crusher Backing Materials Market – Segmentation
TMR’s research study assesses the global crusher backing materials market in terms of application, end-use Industry, and region. This report presents extensive market dynamics and trends associated with different segments of the market and their influence on the growth prospects of the global crusher backing materials market.