Grinding Media Market Analysis & Growth Strategy
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The global grinding media market size is expected to register a significant CAGR during the forecast period from 2022 to 2030. The report provides an abbreviated understanding of the market being analyzed. It includes a precise market definition, clearly outlining the target market (SAG Milling), Top competitors, SWOT Analysis, Growth Strategy and also Customer Complain management & Inventory management policy.
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Grinding Media Market Analysis & Growth Strategy
- 1. 05-01-2020 Report On Grinding Media Market & Growth Strategy
- 2. GRINDING MEDIA SEGMENTAL OVERVIEW FOR MINING INDUSTRY: Grinding Media: Market Mining industry Cement plant Power plant Chemistry industry Other (Paints, Pigments, and Ceramics, etc.) Grinding Media By Industry By Application Balls: Forged, Cast iron, High chromium alloy, Ceramic balls etc. Rods: Steel ,Ceramic Rods Pebbles: Flint, Ceramic pebbles Others: Ore itself in AG Millls The Global Grinding Media Market size is projected to grow moderately in terms of value, from ~$5.7 billion in 2022 to $8.2 billion by 2030, at a CAGR of 4.5%. The major factors driving growth are the increasing demand for grinding media as a result of the growing number of cement plants and power plants worldwide coupled with favorable regulations regarding lead content in magnetic materials. Forged Balls grinding media constitute 50~55% of the market while Cast high chrome balls constitute the 25~30% market, other are having remaining 10~15% of the market. Only Forged SAG Balls have larger market share than Cast high chrome balls. Type of Mill Type of Grinding Media Grinding Media Wear Rate Competitive Dynamics Yearly consumption (US$ Mn) Technology Barrier SAG Mill (D 28 ft.) Forged Balls Exorbitant Molycop, MEE, Magotteaux 3~4 High PBM (D 18 ft.) Forged & Cast Balls/Rods High Molycop, MEE,Vega, Magotteaux, PT Growth 2~3 Low SAG (18ft. D 28ft.) BM (15ft. D 18ft.) Forged & Cast Balls Medium Fragmented 1~2 Low SBM, Regrind Mill, etc. Balls, Pebbles Beads, etc. Minimal Highly Fragmented 0.2 Low *The numbers provided above are my estimates and are not verified through any market survey or third-party data. Being a niche industry, there is limited information available in the public domain and these estimates are based on the Company's interactions and experiences in the market over the last few years MILL OPERATING COST BREAKDOWN Forged Grinding Media High Chrome Cast Grinding Media Other Cast Grinding Media Other Grinding Media (Ceramic, Alumina, Pebbles etc.) By Mfg. Type 45~50% 25~30% 10~15% 10% Power consumption Grinding media consumption Liner consumption Misc. (Maint./Labour)
- 3. SAG Region Country No. Yearly Consumption Value (Mn US$) South America Chile 32 268 551 Peru 24 140 Brazil 16 58 Argentina 11 48 Panama 3 28 Suriname 2 9 EMER Europe 25 48 330 MEA 22 32 Russia and Kazakhstan 118 250 North America USA and Mexico 49 112 258 Canada 59 146 Asia Pacific Australia 75 184 262 SEA 22 76 India 2 2 Africa Ghana 30 80 149 South Africa 68 68 Total 558 1550 1550 Grinding Media Market Size Growth & Focus on SAG Mill Market *The numbers provided above are my estimates and are not verified through any market survey or third-party data. Being a niche industry, there is limited information available in the public domain and these estimates are based on the Company's interactions and experiences in the market over the last few years $- $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 2022 2023 2024 2025 2026 2027 2028 2029 2030 Global Grinding Media Market Size & Growth Market Size Y-o-Y Growth Rate
- 4. Grinding Media Top Competitor Analysis: Global Market Leader with 1.8Mn ton/Year Production Capacity operations in over 20 countries and distribution networks that span the globe. Strong presence in North & Latin America Technically Strongest among all the player. 1.5 Mn ton/year Production Capacity ME Elecmetal is a global supplier of Mill liners along with Grinding media (Offer Solution by bundling offer) for mining. Presence in more than 40 countries all over the world. 1.2 Mn ton/year Production Capacity Strong Presence in Europe (Market Leader) & Asia One of the oldest player among others. Vega has recently increased capacity by 72,000 ton/year by expansion to achieve 0.5 Mn ton/year target capacity. Vega/AIA is a global supplier of Mill liners along with Grinding media for mining all over the world. Strong Presence in Central America & Asia. Scaw Metals Group, TOYO Grinding Ball Co. Ltd, PT Growth are some other company who has capacity of more than 100,000 ton/year *Chinese, Russian players are not considered here. *The numbers provided above are my estimates and are not verified through any market survey or third-party data. Being a niche industry, there is limited information available in the public domain and these estimates are based on the Company's interactions and experiences in the market over the last few years
- 5. Grinding Media: Focused Industries & Growth Drivers *The numbers provided above are my estimates and are not verified through any market survey or third-party data. Being a niche industry, there is limited information available in the public domain and these estimates are based on the Company's interactions and experiences in the market over the last few years
- 6. Grinding Media Market SWOT Analysis: *Increasing investments in mining and cement industries *Robust distribution network across the globe *Development of advanced higher quality and durable grinding media *Expensive raw materials & fluctuating prices *Stringent government regulations *Intense competition few key players in the market leading to pricing pressures *Increasing demand for high- performance and longer-lasting grinding media in various industries. *Rising demand from emerging economies & Growing focus on energy efficiency and low carbon footprint *Strategic partnerships and collaborations among key players in the market to enhance their product offerings and expand their reach. *Growing preference for ever- evolving alternatives (HPGR, VRM) *Increasing regulations mineral extraction leading to operational challenges and higher costs. *Economic slowdowns and political instability in key regions leading to a decline in demand *High competition from local players Strengths Weaknesses Opportunities Threats XXX XXXX XXX XXX Strengths Weaknesses Opportunities Threats Companys Grinding Media SWOT Analysis
- 7. Grinding Media: Growth Strategy Acquire - Retain Grow Repeat Target: 30,000 ton/ Year a) Contact Surface (Management Level). b) No. of sales visits (face to face meeting). c) present suppliers' success reference in the region. d) Performance of the present Grinding Media. e) Customer expectation from the Grinding Media. f) Information of the present Grinding Media (Chemical Composition, Wear rate data, etc). g) Consumption rate (gm/ton) h) Any long-term contract with the present supplier. i) Competitors contact surface. j) Additional service supplied by the current suppliers/competitors. k) Pricing level of competition. l) Technical Person Visits / Presentations. m) How customer perceives Company Year -1 : New Business Brick walling Assessment Customer activity score ( Target churn % 3% ) a) Contact Surface (Management Level) b) Contact frequency (face to face) c) Status (Partner/ Preferred Seller/ Regular Seller) d) Wallet Share (%) (Less than 25%, 25% to 50%, above 50%) e) Customer loyalty to Company (High / medium / Low) f) Competition activity (High/Medium/ Low) g) Product performance/ Reliability/ Customer complain (High/ medium /low) h) Wear rate monitor (Customer / Company) i) Grinding Media Composition Improvement. j) Delivery performance. (% on time) k) Payment records. l) Technical Person visits and presentations. Year -2 Onwards: Repeat Business *The numbers provided above are my estimates and are not verified through any market survey or third-party data. Being a niche industry, there is limited information available in the public domain and these estimates are based on the Company's interactions and experiences in the market over the last few years
- 8. Grinding Media: Customer Complain management CHP Complaint Handling Procedure: Clear guideline for handling customer complaints. Communicated to all relevant stakeholders. - Online complain capturing system. -Prompt response to customer complaints (within 24 hours) -A specific timeline for resolving the issue. RCA Root Cause Analysis: Robust Quality Control in first place. Quality control & Technical team should conduct a root cause analysis of the complaint to determine the underlying issue. This may involve reviewing the production process, analyzing the product specifications, or conducting laboratory testing. CAPA Corrective Action & Preventive Action: Based on the RCA, Company should take corrective action to address the customer's complaint in short-term (Replacing the defective product, Providing a refund) & long-term approach (Change the Process or composition of the material). After the complaint has been resolved we should follow up with the customer to ensure that they are satisfied with the resolution. This provides an opportunity to reinforce the company's commitment to customer satisfaction and to identify areas for improvement in the complaint handling process. Effective customer complaint management is critical for maintaining customer satisfaction and loyalty in the grinding media industry. A well-defined complaint handling procedure, prompt response, root cause analysis, corrective action, and follow-up are all essential elements of an effective complaint management system.
- 9. Grinding Media: Inventory Management Policy To determine the safety stock level of the various sizes Grinding media that can support a high service level for customers and maximise the Companys financial performance. Processes: -Monthly Consumption Data. -Quarter wise, region based Mean & Standard deviation Analysis. -Analyse current variability on Lead Time & standard deviation in lead time. -Ensuring there shouldnt be any stock out condition at organization level. Incase of emergency it need to be managed by doing inter-region transfer of the stock. The optimization of safety stock and inventory position is only possible when the collaborative planning will be done, and all the above factors will be considered and continuously reviewed quarterly. It requires a major attention in the below mentioned topic: a.) Demand Management. b.) Supply Management. c.) Capacity Management.
- 10. c THANK YOU Report Prepared & Presented By: Soham Mukhopadhyay