NEW YORK, Feb. 3, 2021 /PRNewswire/ -- Fact.MR's extensive study on the crusher backing materials market projects a positive sales outlook for 2021 over 2020, as construction, mining and infrastructure projects rebound in the post pandemic period. While short-term growth appears gradual, long-term forecast points to a steady trajectory for the period 2021-2031. Manufacturers are bound to discover significant expansion opportunities across emerging economies.
As urbanization expands, demand for public and private infrastructure has reached new heights. According to Global Infrastructure Outlook, worldwide infrastructure development is expected to reach US$ 94 trillion until 2040, contributing nearly 3.5% of the global GDP. Hence, crusher backing materials are poised to experience enhanced uptake, with prominent players introducing a slew of innovative and technologically advanced products. In 2019, for instance, Sandvik AB enhanced its 800i cone crusher series by launching the CH830i, CH840i and CS840i high-performing crushers equipped with an Automation and Connectivity Systems (ACS) standard. These systems are connected to an online portal which can be accessed by managers to streamline operations.
Mounting sustainability concerns have prompted construction giants to adopt epoxy-resin based crusher backing compounds. Prominent manufacturer ESCO is an active player, offering the ESCOBAKTM 100% solid epoxy compounds for backing wear liners in cone crushers, helping eliminate gaps which weaken wearpart life. Likewise, FLSmidth's Linebacker® crusher liner epoxy is suitable for standard, heavy duty and cold weather crushers respectively. In addition, the company also offers the Bushing Lock range. All the aforementioned product lines are OEM recommended.
"Increasing frequency of construction and infrastructure projects in the wake of large-scale urbanization is prompting leading crushing backing materials manufacturers to deepen penetration across the emerging markets in Asia-Pacific. This is anticipated to generate fresh revenue ecosystems in forthcoming years," concludes the Fact.MR analyst.
Cone crushers to remain primary crusher backing materials application domain
Mining and smelting operations to make extensive usage of crusher backing materials
U.S. to capture an attractive crusher backing materials market share, given the increasing number of hydrocarbon exploration projects
U.K. to experience positive Y-o-Y growth, with an increase in potash and polyhalite mining operations
Germany and France to experience steady growth on the back of a rebounding tourism industry, facilitating construction projects in the hospitality segment
India, China, Japan & South Korea to remain attractive investment hotspots, backed by the rising need for housing and public infrastructure
Numerous small and medium-scale manufacturers dominate the global crusher backing materials landscape. Prominent players include Henkel Corporation Engineering Adhesives, ITW Performance Polymers, FLSmidth & Co. A/S, ESCO Corporation, HPZ Crusher Services, Columbia Steel Casting Co. Inc., Monarch Industrial Products (I) Pvt. Ltd., Epoxa US, FINNSAD Group Oy, Unnathi Enterprises and Copps Industries.
Leveraging modern production technology is a core expansion strategy adopted by some players. In January 2021, Henkel Corporation announced a partnership with Asiga, a leading 3D printing equipment manufacturer, to assist the former in its Open Materials Platform to accelerate the adoption of additive manufacturing in various industries, including crusher backing materials.
Companies also rely on strategic acquisitions to consolidate their market presence. For instance, in 2018, Weir Group acquired a stake in ESCO Corporation for a sum exceeding US$ 1 billion, at an estimated enterprise value of US$ 1.2 billion to expand its surface mining ground engineering tools (GET) business.
Fact.MR, in its new offering, presents an unbiased analysis of the global crusher backing materials market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the basis of application (cone crushers, gyratory crushers, stone crushers, grinding mills, and others [jaw crushers and crusher buckets]) and end-use industry (mining & smelting and building & construction), across five major regions.
Key Questioned Covered in the Report
COVID-19 Impact on Crusher Backing Materials Market
Regional Outlook of Crusher Backing Materials Market
Crusher Backing Materials Market End-use Industry Insights
Key Drivers of Crusher Backing Materials Market
Major Challenges for Crusher Backing Materials Market
Lucrative Opportunities for Crusher Backing Materials Market
Key Players Operating in Crusher Backing Materials Market
Mining & Smelting End-use Industry Holds Major Share of Crusher Backing Materials Market
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