With increase in global population, demand for construction and infrastructure development has risen manifold in the past several decades. This is largely in response to surging urbanization and the consequent demand for housing. As a result, mining operations for construction materials has accelerated. Moreover, fast-paced industrial development has augmented the need for essential minerals and metals such as iron ore, copper, gold, bauxite, hydrocarbons, etc., for a number of manufacturing processes, thus increasing exploration and mining for these elements.
Based on these trends, the need for heavy crushers is proliferating, leading to constant maintenance and upgradation of the same, heightening the growth prospects of the crusher backing materials market.
The global crusher backing materials market is slated to reach a valuation amounting to US$ 33 Mn by the year 2030, according to Fact.MR’s recently published report on the subject.
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Key Trends of Crusher Backing Materials Market
- Cone crushers to pivot growth, grinding mills to emerge as the 2nd largest segment, by application.
- By end-use industry, mining & smelting operations are likely to register extensive usage of crusher backing materials.
- Asia Pacific to emerge as a hub for manufacturers in the crusher backing materials market, owing to rapid growth of the construction sector.
- Epoxy-derived materials to be highly popular, attributed to their high resistance to thermal stress and enhanced adaptability.
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- The coronavirus pandemic has brought about a massive deceleration in the global economy, resulting in immense sluggishness across several industries, including the crusher backing materials market.
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.
Application
- Cone Crushers
- Gyratory Crushers
- Stone Crushers
- Grinding Mills
- Others (including Jaw Crushers and Crusher Buckets)
End-use Industry
- Mining & Smelting
- Building & Construction
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Crusher Backing Materials Market: Competition Analysis
Prominent players within the crusher backing materials landscape include 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, and FINSAID Group Oy, to name a few. Strategic collaborations, acquisitions, and product launches are at the core of the aforementioned players’ expansion strategies. Additionally, certain players are expanding their geographical outreach by foraying into untapped markets.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/27/2007685/0/en/Coated-Glass-Market-on-a-Robust-Growth-Trail-Architectural-Applications-Accentuate-Profitability-Reports-Fact-MR.html
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