Crusher Backing Materials Market
Crusher Backing Materials Market By Application (Cone Crushers, Gyratory Crushers, Stone Crushers, Grinding Mills), By End-use Industry (Mining & Smelting, Building & Construction), By Region - Global Market Forecast 2020-2030
Crusher Backing Materials Market Overview
Crusher backing materials are substances that are used to eliminate gaps or misalignments behind the principal parts of a crusher. Deploying effective crusher breaking compounds and release agents are important for enhancing the life of any crushing equipment, thus helping reduce excessive maintenance costs.
Crusher backing materials offer enhanced impact tolerance, minimum container filler segments, and low shrinkage possibilities. Attributed to these benefits, these materials are highly suitable for various ancillary applications such as bonding, fastening, grouting and filling.
According to Fact.MR, the global crusher backing materials market size is slated to expand moderately across the 2020-2030 forecast period. This growth is largely underpinned by surging volumes of mining and mineral extraction activities, which require extensive usage of crushers to break through tough materials.
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Epoxy-derived Crusher Backing Materials to Enjoy Ascending Popularity
Crusher backing materials manufactured from epoxy resins are anticipated to enjoy massive popularity throughout the predicted forecast period. This is largely attributed to the fact that, epoxy materials offer high resistance to thermal stress and degradation. Amongst the main advantages, high adaptability is the main reason for its uptake.
- Players such as Henkel Corporation are already active in this respect. The company’s LOCTITE PC 9020 Backing Compound is ideal for cone and gyratory crushers for mines, steel and power plant facilities. Available in a 10 kg kit, this epoxy compound offers high volumetric stability that eliminates gaps between backing and liners.
- On the same plane, Copps Industries manufactures epoxy-based crusher backing products. Its High Performance Backing XP-2000 crusher is highly durable and shock-absorbent, playing a pivotal role in the protection and reinforcement of heavy-duty mining and quarry equipment.
Automation of Cone Crushers to Open Up New Frontiers
Cone crushers are the most extensively used equipment to clear rocks and other tough material in the downstream of a crushing circuit. They reduce material in a crushing cavity by continuous compression between the bowl liner and the mantle. An eccentric swinging movement produces a strong force to crush the rocks.
Recent trends in industrial automation have also penetrated the cone crushers domain, with major mining companies seeking to incorporate it to streamline drilling operations. As a result, demand for backing materials to ensure their smooth operations is bound to proliferate across the forecast period.
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Crusher Backing Materials Market Insights by Application
Based on application, the cone crushers segment is expected to pivot the growth of the global crusher backing materials market across the forecast period. A modest CAGR has been predicted for the segment. Cone crushers are heavy-duty machinery suitable for crushing several raw materials, such as medium-hard rocks and ores. Their uptake is significantly high due to reduced ownership and operating costs. This heightened adoption is augmenting demand for cone crusher backing materials.
Grinding mills is expected to be the 2nd most lucrative segment, with increasing adoption across a wide range of industries. As every industry has a unique grinding process, they require versatile grinding equipment for their operations. Hence, the need for grinding mills backing materials is rising.
Crusher Backing Materials Market End-use Industry Insights
Extensive mining operations to extract minerals and other precious commodities are anticipated to increase the uptake of crusher backing materials across the mining and smelting sector. As the world population expands, demand for housing and urbanization has increased, necessitating demand for construction material, thus increasing mining activities.
Additionally, mining for precious metals such as gold and silver is also registering a steep incline. So is the demand for copper, iron, bauxite, and zinc for a number of commercial industries such as automotive manufacturing, battery production, etc. All these activities utilize heavy mining equipment and crushers, thus providing ground for expansion of the crusher backing materials market.
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Regional Outlook of Crusher Backing Materials Market
The Asia Pacific crusher backing materials market is expected to tower over all the other regions, recording impressive growth. This is largely due to rising investments in infrastructure development across countries such as China, India, South Korea, and Thailand.
In addition, the region is a potentially rich source of minerals and hydrocarbons, particularly petroleum, coal, iron, manganese, tin, antimony and tungsten among others. Nearly 50% of arable land in India has significant coal reserves, thus attracting lucrative investments. The country also accounts for 12% of global thorium reserves.
Likewise, China possesses extensive iron ore reserves in some of its most important provinces such as Hainan, Gansu, Guizhou, southern Sichuan, and Guangdong. As a result, investments in mining activities have multiplied. All these trends are expected to positively impact the crusher backing minerals market in the future.
Crusher Backing Materials Market: Competition Analysis
Strategic collaborations, acquisitions, and product launches are at the core of the aforementioned players’ expansion strategies. Additionally, certain players are also expanding their geographical outreach by foraying into previously untapped markets.
COVID-19 Impact on Crusher Backing Materials Market
The coronavirus pandemic has brought about a massive deceleration in the global economy, inducing immense amounts of sluggishness across several industries. Businesses such as automotive production, oil & gas exploration, and mineral extraction have all experienced prolonged slumps in their revenue and profit margins.
Imposition of lockdowns and curbs on cross-border travel have adversely impacted international trade, impacting the import and export of various products. As such, demand for crusher backing materials is expected to nosedive in the forthcoming months. Moreover, demand has also fallen due to cessation of mining and exploration activities.
Due to the dwindling number of mining projects, adoption of heavy equipment and crushers is also going down, thus generating a massive demand-supply gap in the crusher backing materials market. Fortunately, manufacturers are leaving no stone unturned to ensure that these gaps are bridged to the fullest.
While most employees work from home, on-site workers comply with strict social distancing and hygiene protocols. Also, companies are remodeling business practices to ensure that the least number of people work on-premise.
The Analyst’s Viewpoint
“Increasing frequency of mining operations combined with technological advancements in mining technologies are prompting manufacturers in the crusher backing materials market space to explore new and innovative formulations.”
Crusher Backing Materials Market: About the Report
Fact.MR has published an exclusive forecast report on the crusher backing materials market for 2020 to 2030. The foremost objective of this report on the crusher backing materials market is to pitch insights on the market scenario, demand generators, and technological advancements in the crusher backing materials market. Also, the study addresses the key dynamics that are expected to diversify the sales and future prominence of the market.
The report begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the crusher backing materials market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the crusher backing materials market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for crusher backing materials.
Supply chain analysis and pricing analysis of the crusher backing materials market, along with the difference between crusher backing materials used as per application, have also been included in the report.
Crusher Backing Materials Market – Segmentation
Fact.MR’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.
- Cone Crushers
- Gyratory Crushers
- Stone Crushers
- Grinding Mills
- Others (including Jaw Crushers and Crusher Buckets)
- Mining & Smelting
- Building & Construction
- North America
- Latin America
- Asia Pacific
- Middle East & Africa