What is the global market size of Grinding Media Balls Market?

Grinding Media Balls Market size was valued at USD 6.9 billion in 2021 and is poised to grow from USD 7.25 billion in 2022 to USD 10.7 billion by 2030, growing at a CAGR of 5% in the forecast period (2023-2030).

Grinding Media Balls Market Size, Share, Growth Analysis, By Type(High chrome cast grinding media and Forged grinding media), By Application(Chemical industry, Metallurgy & mining, Cement plant, Power plant), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20C2028 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 62 | Figures: 75

Grinding Media Balls Market Dynamics

Driver

Wide range of applications of grinding media in several industries

Significant growth of global grinding media balls market is driven by several factors, such as a wide range of applications of grinding media in several industries, including the chemical industry, paper & mill, and mineral & metallurgy. One of the most important end-user sectors for grinding media balls is the chemical industry. The chemical industry involves the manufacturing of chemicals from raw materials in an integrated industrial process, such as petroleum refining to generate fuel products such as gasoline, chemicals such as ethylene glycol, and plastics such as polyethylene.

Restraint

Inappropriate grinding performance

The performance of media balls including media size selections, shape considerations, and media quality. Grinding performance is measured in terms of output, fineness of grind, or the ability to produce desired size distributions in the product. Inappropriate grinding performance hampers the growth of global grinding media balls market.

Grinding Media Balls Market Report Snapshots

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Grinding Media Balls Market size was valued at USD 7.25 Billion in 2022 and is poised to grow from USD 7.61 Billion in 2023 to USD 11.25 Billion by 2031, at a CAGR of 5% during the forecast period (2024-2031).

Global grinding media balls market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global grinding media balls market. 'Magotteaux', 'Moly-Cop', 'ME Elecmetal', 'AIA Engineering', 'Anhui Ningguo Wear Resistant Materials General Plant', 'Scaw Metals Group', 'Jinchi Steel Ball', 'TOYO Grinding Ball', 'Shandong Huamin Steel Ball Joint-Stock', 'Christian Pfeiffer', 'Ningguo Kaiyuan Electric Power Wear Resistant Materials', 'Welcast Steels', 'Gerdau', 'TUYAN INDUSTRIES', 'FengXing', 'Estanda', 'Qingzhou Taihong Special Casting Steel', 'Zhangqiu Taitou Special Steel Ball Factory', 'Dongyuan Steel Ball', 'Dongyuan Grinding Machinery Co. Ltd.'

Significant growth of global grinding media balls market is driven by several factors, such as a wide range of applications of grinding media in several industries, including the chemical industry, paper & mill, and mineral & metallurgy. One of the most important end-user sectors for grinding media balls is the chemical industry. The chemical industry involves the manufacturing of chemicals from raw materials in an integrated industrial process, such as petroleum refining to generate fuel products such as gasoline, chemicals such as ethylene glycol, and plastics such as polyethylene.

The key trend for growth of the market is grinding media ball mills in the cement industry are in high demand. Technological improvements have resulted in ball mills that are used extensively in the cement industry to grind materials into the required size. The use of grinding media ball mills in the cement industry with newer and highly efficient drive systems has enabled the mills to optimize their output along with reduced electricity bills for cement manufacturers.

On the basis of region, global grinding media balls market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia Pacific dominated the global market. In this region, the demand for grinding media balls is mainly driven by increased cement production in China. The high chrome cast type segment dominates this market with a share of more than 40% in this region.

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Grinding Media Balls Market Size, Share, Growth Analysis, By Type(High chrome cast grinding media and Forged grinding media), By Application(Chemical industry, Metallurgy & mining, Cement plant, Power plant), By Region - Industry Forecast 2024-2031

Grinding Media Balls Market Dynamics

Grinding Media Balls Market Report Snapshots

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