High Pressure Grinding Rollers Market size is set to grow exponentially over 2022-2028 with increasing mining and metal exploration activities across the globe. These activities involve crushing and grinding operations which is instigating the product demand to a greater extent.
In addition, the increasing proclivity towards minimizing the mining costs along with the mounting demand for high pressure grinding rollers would foster the demand for high pressure grinding rollers. They are known to be vital equipment that minimize particles by compressing and crushing the feed between two parallel, counter-rotating rollers.
The industry expansion is anticipated to be further accelerated by the increasing construction activities in the residential as well as commercial spaces. This is majorly due to the predominant application of high-pressure grinding rollers in the cement industry.
Based on the component, non-ferrous metal segment is projected to grow significantly over 2022-2028 with the increasing product application in gold, silver, and copper mining. The increasing production of these metals, especially copper, is expected to drive the segmental growth further. According to the International Copper Study Group (ICSG)’s estimates, the global copper mine production will increase by around 2.1% in 2021 and nearly 3.9% in 2022.
With regards to application, base metal liberation segment is anticipated to register substantial gains over the analysis timeline of 2022-2028 with the increasing product demand owing to its superior grinding qualities. For instance, the high pressure grinding rollers play a significant role in sulfide ore beneficiation. The generation of micro cracks in the mineral grain surfaces helps in liberating the locked minerals before gravity concentration and floatation.
Regionally, high pressure grinding rollers market is expected to exhibit commendable growth across Asia Pacific by the end of 2028 on account of the increasing mining activities in the region. Besides, supportive government initiatives toward the expansion of mining sector will further contribute to the market growth. Quoting an instance, the government of India has approved 100% Foreign Direct Investment in the metal exploration and mining sector. In addition, the ongoing residential and commercial constructions in the country have created a strong demand for iron and steel which will create lucrative opportunities for the regional market in the near future.
The eminent players operating in high pressure grinding rollers market include Metso Oyj, The Weir Group PLC, FLSmidth, Cast Steel Products, KHD Humboldt Wedag International AG (AVIC International Engineering Holdings Pte. Ltd.), Thyssenkrupp Koppern Group, TAKRAF GmbH (Tenova Core Inc.), Outotec Oyj (Metso Outotec), and CITIC Heavy Industries Co. Ltd. among others.
These business players are engaged in the development of enhanced product offerings to effectively serve larger customer base and gain a competitive advantage in the industry. For instance, in 2020, Thyssenkrupp launched HPGR Pro high-pressure grinding roller to improve the reliability, efficiency, and processes in the mining industry. According to the company, the new product offers up to 30% longer-lasting rollers, up to 20% more throughput, and up to 15% lesser energy consumption.
The impact of COVID-19 crisis on the market outlook can be largely imputed to the temporary closure of various mining sites globally. In addition, the disruption of operations and supply chains across the metal processing industry has also made a serious impact on the market statistics due to the decline in product demand. However, with the adoption of required safety measures regarding coronavirus and gradual restoration of industrial operations, high pressure grinding rollers market will grow steadily.