Crusher Backing Materials Market
Crusher Backing Materials Market (Application: Cone Crushers, Gyratory Crushers, Stone Crushers, Grinding Mills, and Others; and End Use: Mining & Smelting and Building & Construction) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
High Demand for Crusher Backing Materials for Protection of Cone Crushers
Durable and shock-absorbing crusher backing materials are playing a pivotal role in the protection and reinforcement of heavy-duty mining and quarry equipment. This is evident, since mining & smelting end use segment is expected to lead the crusher backing materials market, which is estimated to reach a revenue of ~US$ 30 Mn by the end of 2027. Hence, manufacturers are increasing efforts to expand their portfolio in compounds made from 100% solids. For instance, Copps Industries-one of the leaders dealing with high-quality epoxy products, has gained expertise in the production of high-performance backing products that meet industry standards.
Rapid growth of the coal and mining industry is catalyzing demand for reliable crusher backing materials. As such, there is a need for backing products to protect crushing machines such as cone crushers and gyratory crushers. This is justified since cone crusher application segment of the crusher backing materials market is projected to grow during the forecast period.
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Development of New Compounds Using Current Raw Materials for Challenging Applications
With increased chemical innovations, manufacturers are increasing the availability of crusher backing materials that accommodate temperature extremes and rapid setting times. For instance, H-E Parts International-a supplier of parts and remanufactured components used in mining and quarries, has increased its production capabilities in developing liquid epoxy grout for backing crusher parts, including segment style wear liners. As such, manufacturers in the crusher backing materials market are increasing research to develop high-impact backing products with high tensile attributes, along with compressive strengths.
In regions with hot climatic conditions, certain crusher backing materials harden before filling liner cavities. Hence, manufacturers in the crusher backing materials market are increasing the availability of low-viscosity products that allow faster cavity filling. On the other hand, manufacturers are developing bauxite jaw crusher backing products to back wear liners in cone crushers. New innovations have led to the introduction of compounds made using current raw materials that help companies gain competitive edge in the business landscape.
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Improved Formulations of Backing Materials Fuel Crusher Backing Materials? Market Growth
Crusher backing materials are being highly publicized for their advantageous attributes catering to the protection of crushing machines to avoid unnecessary damages or long-term wear. However, the introduction of advanced crushers that eliminate the need for backing materials are posing a threat to the business of manufacturers. For instance, FLSmidth— a Danish engineering company, announced the launch of Raptor® Cone Crushers, smart cone crushers that eliminate the need for packing materials. Hence, manufacturers in the crusher backing materials market are increasing their efficacy in improved backing formulations to meet the needs of end-users.
Companies in the crusher backing materials market are increasing their production capacities to develop high-performance materials designed for use in extreme temperatures. They are expanding their portfolio in tried-and-true standard product line offerings for stone crushers and grinding mills. Manufacturers are increasing R&D in materials that control shrinkage during the hardening process in mining and fuel operations.
OEM-approved Backing Materials Gain Prominence in Quarrying and Mining Companies
The trend of easy to mix and pour crusher backing materials is generating incremental opportunities for manufacturers. For instance, CMS Cepcor-Europe’s aftermarket company of crusher and asphalt plant parts has a wide portfolio in backing materials such as their product Korrobond® that eliminates the need for laborers for mixing the materials. As such, manufacturers in the crusher backing materials market are establishing strong business grounds in the U.K. and are developing robust export chains. They are increasing efforts to produce OEM-approved backing materials that are used in the building & construction industry. Rapid growth of the billion-dollar construction industry is creating value-grab opportunities for manufacturers.
There is a growing demand for long-established branded epoxy crusher materials from leading OEMs. Companies in the crusher backing materials market are boosting their credibility in the business landscape by increasing efforts to gain the status of a preferred and reliable supplier among the world’s most prestigious quarrying and mining companies.
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The crusher backing materials market is estimated to grow at a CAGR of 3.5% during the forecast period. Companies are tapping opportunities in Asia Pacific and Middle East & Africa, as the market in both regions is expected to witness exponential growth in the coming years.
Innovative backing materials are meeting cost- and time-efficiency needs of stakeholders. However, multi-action cone crushers are eliminating the need for backing materials, which poses as a challenge for business expansion plans of manufacturers. Hence, manufacturers should increase their production capacities to develop OEM-approved backing materials that help revive consumer demand. They should increase R&D in new raw materials to develop compounds that can be used in the most challenging quarry and mining operations.
Crusher Backing Materials Market: Overview
- Crusher backings are polymer-based materials used to eliminate the gaps and misalignments behind the wear parts of a crusher and support the wear surface during crushing. Crusher backing compounds are also suitable for use in various ancillary applications, such as filling, bonding, fastening, and grouting. These materials offer good 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 is the most widely used polymer in the manufacture 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
Crusher Backing Materials Market: Highlights
- The global crusher backing materials market is anticipated to expand at a significant pace during the forecast period. This growth is attributable to the rise in mineral exploration and mining activities, which is likely to drive the use of crushers in the mining industry in the near future. This, in turn, is projected to drive the global crusher backing materials market during the forecast period.
- Demand for metals, minerals, and construction aggregates has been increasing over the last few years, owing to their wide usage in various end-use industries. This, in turn, drives mining activities, which require crushers. This factor is likely 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.
- However, new and technologically upgraded crusher machinery requires minimum maintenance. Some of the companies are developing upgraded crushers, which do not require backing materials. This change in technologies is projected to hamper the global crusher backing materials market during the forecast period.
Rise in Demand for Use in Mining & Smelting
- The global crusher backing materials market has been segmented based on application, end use, and region. Based on end use, the market has been divided into mining & smelting and building & construction. In terms of revenue, the mining & smelting segment held a major share of the global market in 2018. Based on application, the global crusher backing materials market has been classified into cone crushers, gyratory crushers, stone crushers, grinding mills, and others. In terms of both revenue and volume, the cone crushers segment constituted a significant share of the global market in 2018. It is anticipated to expand at a rapid pace during the forecast period.
- Among applications, the cone crushers segment is estimated to expand at a significant pace during the forecast period. Crusher backing materials are better shock-absorbing materials and they prevent ware of parts of crushers and enhance the life of machinery by protecting it from unnecessary damage, vibration, friction, and impact during crushing operations.
Key Regional Highlights
- 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 2018. This trend is estimated to continue during the forecast period also. 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, followed by India, during the forecast period.
Crusher Backing Materials Market: Competition Landscape
- The global crusher backing materials market is fragmented. A large number of small- and medium-scale local suppliers of crusher backing materials operate in the market. Key players operating 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
Transparency Market Research’s recent report on the global crusher backing materials market provides readers with an assessment of the global market landscape with the help of a comprehensive outlook. This study on the global crusher backing materials market analyzes the market for the period from 2019 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions regarding their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global crusher backing materials market also provides data on developments made by important players and stakeholders in the market, along with competition analysis. The report also provides understanding of strengths, weaknesses, threats, and opportunities along with market trends and market restraints.
This study also discusses the underlying trends and the impact of various factors that are driving the global crusher backing materials market, along with their influence on growth of the market.
This study also offers Porter’s Five Forces analysis, PEST analysis, and regulatory scenario of the global crusher backing materials market in order to elaborate on crucial growth strategies of and opportunities for players operating in the global market.
Key Questions Answered in Crusher Backing Materials Market Report
- How much revenue is the global crusher backing materials market expected to generate by the end of the forecast period?
- Which region currently accounts for the maximum share of the global crusher backing materials market?
- What are factors expected to drive the global crusher backing materials market?
- Which region is likely to be a highly lucrative market for crusher backing materials during the forecast period?
- What are the essential strategies adopted by key stakeholders of the global crusher backing materials market to expand their geographical presence?
- What are major advancements in the global crusher backing materials market?
This report answers these questions about the global crusher backing materials market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Crusher Backing Materials Market: Research Methodology
This TMR report on the global crusher backing materials market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the global crusher backing materials market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global crusher backing materials market arrived at predictions and estimations and calculated the market forecast.
This report uses an analytical triangulation method to estimate the global crusher backing materials market by using both bottom-up and top-down approaches.
This detailed assessment of the global crusher backing materials market, along with an overview of the market has been provided based on a careful examination of market opportunities. Analysts’ conclusions on how the global crusher backing materials market is set to expand are based on carefully vetted primary and secondary sources.
Crusher Backing Materials Market – Segmentation
This report on the global crusher backing materials market segments the market based on application, end use, and region.
Mining & Smelting
Building & Construction
Middle East & Africa