Rockville, July 06, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals in its recently published industry research report that the global mill liner market stands at US$ 970 million in 2023. Global market demand is projected to rise at a CAGR of 5.8% through 2033.
Significant growth of the mining sector is estimated to drive the demand for mill liners for extensive grinding operations.
Industries related to the mining sector, including material handling, are also expanding at a significant pace around the world. Growth of the material handling industry is leading to a large number of coal-handling plants. These plants use mill liners to break larger chunks of coal into required reusable sizes and then transport the same to respective thermal power plants.
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Growing demand for power generation has led to a significant rise in coal-handling plants in recent years. This trend is positively impacting on the worldwide sales of mill liners.
Key Takeaways from Market Study
- The global mill liner market reached a value of US$ 916 million in 2022.
- Worldwide demand for mill liners is estimated at US$ 970 million in 2023.
- The global market is predicted to reach a valuation of US$ 1.71 billion by the end of 2033.
- Sales of mill liners are forecasted to advance at a CAGR of 5.8% from 2023 to 2033.
“Advantages of mill liners, including safer maintenance, improved throughput, increased productivity, and optimized milling circuit, are projected to contribute to their sales. Moreover, the expanding mining and cement industries are also creating ample opportunities for market players,” says a Fact.MR analyst.
Increasing Number of Mining Refineries Leading to High Demand for Mill Liners
Rising number of mining refineries is boosting the demand for mill liners for grinding operations. Additionally, the mining industry's exploration and production activities encompass various phases, including exploration, drilling, and extraction. Growing demand for electricity and fuel generation is leading to increased efforts in offshore exploration.
Mill systems are crucial for exploration activities. They protect the mill while acting as a significant barrier against any sort of internal stress that can lead to equipment failure. Increased productivity of mill liners allows for the processing of tons of material and improves their grinding capacity.
Expansion of Cement Industry and Increasing Use of Composite Liners
Mills are used extensively in the cement industry due to the rapid growth of the construction sector. Rapid infrastructure development is estimated to push demand for mill liners.
In recent years, there has been a growing adoption of composite liners by many individuals. These liners are composed of a combination of metal and rubber materials, offering enhanced durability and resistance to wear and tear. Furthermore, composite mill liners are known for their lower noise emissions and lightweight construction, which are key features driving their sales.
Competitive Landscape
Maintaining product standards, quality control, strengthening supply chain management systems, etc. are noteworthy initiatives taken by prominent players for the expansion of their footprints around the world.
Agreements, collaborations, new developments, mergers & acquisitions, etc. are some initiatives taken by industry players to expand their footprints globally and enrich their product portfolios.
For instance :
- Metso Outotec, in January 2021, entered into an agreement with Norilsk Nickel for the delivery of SAG & ball mills and various other consumables and parts that include metallic mill liners. They collaborated to deliver the products at refurbishing projects in Norilsk, Russia, at the Talnakh processing plant.
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Key Market Players
Leading manufacturers of mill liners include:
- Metso Corporation
- Magotteaux
- ME Elecmetal
- FLSmidth
- WHEMCo, Inc.
- The Weir Group (Vulco)
- Multotec
- Eriez Manufacturing Co.
- Magotteaux
- Trelleborg
- H-E Parts International
Segmentation of Mill Liner Industry Research
- By Liner Material:
- Steel
- Rubber
- Composites
- By Mill Type:
- Autogenous
- Semi-autogenous
- Ball
- Rod
- Pebble
- By Sales Channel:
- OEMs (Original Equipment Manufacturers)
- Replacement
- By End Use:
- Cement Industries
- Mining
- Power Plants
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the mill liner market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on liner material (steel, rubber, composites), mill type (autogenous, semi-autogenous, ball, rod, pebble), sales channel (OEMs [original equipment manufacturers, replacement], and end use (cement industries, mining, power plants), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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