New York, United States , Aug. 06, 2024 (GLOBE NEWSWIRE) -- The Global Crusher Backing Materials Market Size is Expected to Grow from USD 24.65 Million in 2023 to USD 36.83 Million by 2033, at a CAGR of 4.10% during the forecast period 2023-2033.
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Crusher backing materials are specialized compounds used to support and protect crushers in various industrial applications, particularly in mining, aggregate production, and recycling. Crusher backing materials are substances that are used to fix gaps or misalignments behind the primary components of a crusher. Crusher backing materials provide a higher impact tolerance, fewer container filler segments, and lower shrinking potential. Because of these characteristics, these materials are suitable for a wide range of ancillary applications such as bonding, fastening, grouting, and filling. Crusher backing materials are specialized compounds used to support and protect crushers in many industrial applications, particularly in mining, aggregate manufacturing, and recycling. The market for crusher backing materials is primarily driven by the expansion of the mining and aggregate sectors, which require effective backing solutions due to rising demand for crushers and maintenance. Technological developments in both crushers and backing materials, coupled with the necessity for high-performance equipment and adherence to safety rules, drive market expansion. However, the market for crusher backing materials has numerous constraining constraints, including high prices connected with both the materials and their use, which can limit adoption, particularly in economically challenged regions.
Browse key industry insights spread across 220 pages with 125 Market data tables and figures & charts from the report on the "Global Crusher Backing Materials Market Size, Share, and COVID-19 Impact Analysis, By Product Type (100% Solid Epoxy Compound, <100% Solid Epoxy Compound), By Application (Cone Crushers, Gyratory Crushers, Stone Crushers, Grinding Mills), By End-User Industry (Mining & Smelting, Building & Construction), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The 100% solid epoxy compound segment is predicted to hold the largest market share through the forecast period.
Based on the product type, the crusher backing materials market is classified into 100% solid epoxy compound, and <100% solid epoxy compound. Among these, the 100% solid epoxy compound segment is predicted to hold the largest market share through the forecast period. 100% solid epoxy compounds typically have higher performance features such as increased durability, greater resistance to wear and impact, and a longer lifespan. These features make them ideal for demanding applications in crushers where dependability and lifespan are crucial.
The cone crushers segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the crusher backing materials market is divided into cone crushers, gyratory crushers, stone crushers, and grinding mills. Among these, the cone crushers segment is anticipated to hold the highest market share during the projected timeframe. The cone crushers industry is driven by the widespread use of cone crushers in the mining and construction industries, where their efficiency in processing hard materials is crucial. Cone crushers' high working pressures and conditions require sturdy backing materials to enhance longevity, absorb vibrations, and reduce maintenance.
The mining & smelting segment is anticipated to hold the greatest share of the crusher backing materials market during the projected timeframe.
Based on the end-user industry, the crusher backing materials market is categorized into mining & smelting, building & construction. Among these, the mining & smelting segment is anticipated to hold the greatest share of the crusher backing materials market during the projected timeframe. The mining and smelting segment reported higher usage of crusher backing materials in the mining industry. The size of mining operations, the necessity for equipment lifespan, and considerable investments in the sector all contribute to this dominance.
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Asia Pacific is estimated to hold the largest share of the crusher backing materials market over the forecast period.
Asia Pacific is estimated to hold the largest share of the crusher backing materials market over the forecast period. Asia Pacific is expected to lead the crusher backing materials market, owing to rapid industrialization and major infrastructure development in the region. The expanding demand for mining and construction equipment, driven by strong economic expansion and urbanization, stimulates the need for high-quality backing materials.
North America is predicted to have the highest CAGR growth in the crusher backing materials market over the forecast period. North America is driven by the region's robust mining and construction sectors, major infrastructure investments, and technological improvements. The market for new backing materials is being driven by the need for increased equipment performance and regulatory compliance in North America.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Crusher Backing Materials Market Henkel Corporation, ITW Performance Polymers, Copps Industries, FLSmidth & Co. A/S, ESCO Corporation, Columbia Steel Casting Co., Inc., Monarch Industrial Product (I) Pvt Ltd., HPZ Crusher Services Inc, Unnathi Enterprises, FINSAD Group Oy, Epoxa US, Micor Company and Other Key Vendors.
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Recent Developments
- In December 2022, Heidelberg Materials bought the Mick George Group, which operates 40 locations in the UK, including recycling facilities, aggregate quarries, and ready-mixed concrete plants.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the crusher backing materials market based on the below-mentioned segments:
Global Crusher Backing Materials Market, By Product Type
- 100% Solid Epoxy Compound
- <100% Solid Epoxy Compound
Global Crusher Backing Materials Market, By Application
- Cone Crushers
- Gyratory Crushers
- Stone Crushers
- Grinding Mills
Global Crusher Backing Materials Market, By End-User Industry
- Mining & Smelting
- Building & Construction
Global Crusher Backing Materials Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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