Pune, India, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global mill liner market size will witness a commendable gain on the back of the demand for increased productivity and additional uptime. The equipment is sought-after to boost efficiency and provide tremendous wear resistance and lightweight attributes. Fortune Business Insights™ has deep-dived into these insights in an upcoming research report, titled, “Mill Liner Market, 2023-2030.”
The COVID-19 outbreak has had a pressing influence on the global outlook, with mining, metal, and construction industries witnessing major upheaval. According to the World Steel Association, U.S. steel production stood at 6.4 million metric tons in December 2020, observing a 13.7% dip from 7.4 million metric tons in December preceding year. Stakeholders expect the prevailing COVID-19 trends to have a notable impact on the demand for mill liners globally.
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Drivers & Restraints
Surging Demand from Mining and Thermal Power Sectors to Augur Well
Stakeholders expect thermal power and mining sectors to be the significant recipients of mill liners in the ensuing period. Besides, a high number of coal-handling plants are also likely to foster the business outlook. The trend for customization to enhance throughput, additional uptime and safer maintenance will further the demand for the equipment. That said, a rise in the raw material prices could mar the mill liner market forecast. Meanwhile, an influx of funds into the mining industry will continue to foster the demand for the equipment.
Report Coverage:
The upcoming research report is prepared painstakingly, involving qualitative and quantitative assessments. The report also delves into an executive summary to provide a birds-eye-view of the global market. Besides, top-down and bottom-up approaches have played a considerable role in forecasting the market size, share, and volume. The upcoming research report also includes emerging niche segments and recent industry developments.
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List of Key Players in the Mill Liner Market:
- Shanghai ZME (Netherlands)
- Multotec (South Africa)
- ME Elecmetal (Chile)
- H-E Parts International (U.S.)
- Metso Outotec (Finland)
- AIA Engineering Ltd. (India)
- Shreeji Enterprises (India)
- WHEMCO, Inc. (U.S.)
- FLSmidth (Denmark)
Regional Analysis:
Stakeholders Bank on Robust Government Policies to Underpin North America Market Growth
Leading companies are poised to unlock potential growth opportunities in the U.S. and Canada following the implementation of safety standards. The prevalence of grinding mills is attributed to favorable government policies across the end-use sectors, including mining and thermal power.
Asia Pacific mill liner market growth will gain traction on the back of rising cement production and thriving mineral exploration activities. Uptake in the mining activities across Australia and India will foster regional growth. Besides, investments in the steel- and rubber- mill liners will bolster the regional growth.
Market Segmentation:
Rubber Mill Liners to Impel Industry Growth
In terms of type, the mill liner market is segregated into rubber mill liner, steel mill liner and composite mill liner.
With respect to industry, the market is segmented into thermal power, mining, cement and others.
Based on region, the market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and South America.
Stakeholders expect rubber mill liners to account for a notable CAGR owing to their wide range of applications and reduced noise levels. Moreover, reduced weight compared to steel liners has made them trendier across end-use applications.
Competitive Landscape:
Industry Players Invest in Organic and Inorganic Strategies to Boost their Portfolios
Leading companies are poised to infuse funds into product launches, mergers & acquisitions, R&D activities, innovations and technological advancements to gain a competitive edge in the landscape. One of the notable industry development is illustrated below:
KEY INDUSTRY DEVELOPMENTS:
Metso Outotec announced to supply of a high-capacity SAG mill to Thunderbox gold mine expansion in Western Australia. In January, the company inked a deal with Norilsk Nickel to provide SAG & ball mills in Russia.
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