What factors could be the growth drives and risks to the demand of grinding media?

What factors could be the growth drives and risks to the demand of grinding media? Lu Jing explains competitiveness in the Global grinding media consumption market:

Global grinding media demand continues its remarkable growth, while this era of increasing demand is also one of robust supply.

Global market for grinding media is estimated at 8.11 million tons, valued at USD 7.08 billion in 2016 and expected to reach 11.07 million tons by 2022, growing at CAGRs of over 5.03% in terms of production volume. Grinding media market shows stable growth due to its widespread use in the mining and metallurgy industries, which together account for about 80% of global product consumption.

Global grinding media consumption and production market, by geography is segmented into China, USA, Europe, South America, South Africa, Asia (Ex. China), Australia and the rest of world. China belongs to the larger consumer, more than 45% of global consumption in 2015. As for main production countries, it is estimated that China accounted 53% of global grinding media output in 2015, while Europe, South America ranked second position with about 9% share, respectively.

Grinding media has a wide range of application such as cement, mining & metallurgy, power plant, chemical engineering, ceramic & coating, papermaking industry, magnetic materials. And we give the consumption share in these fields in 2015.

Table 2015 Consumption of Grinding Media for Different Applications

Mining and Metallurgy Market face

The market of mining and metallurgy has been through difficult years due to the downward trending price of major metal products. Since the beginning of 2017, the average price of metal has noticeable increase compared with past two year, which helped mining vendors regaining profit and increase purchase of grinding media.

Cement

Cement industry is a major consumer of high chrome grinding media. Owning to the overcapacity and environmental pressures, cement industry has been through quite harsh years since 2015. Currently, China controls 57% of global cement supply, but the country has been trying hard to reorganize its local market and control supply. Until now, important merges and acquisitions has been completed  

The demand in cement industry comes from real estate demand. In consideration, of population growth and macro entomic situation, the demand cement would be stay weak in the coming years.

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