Chip Crusher Market - Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 05/01/2018 -- Chip crusher is a machine which crushes or shreds metal which can be later used for many purposes including retrieval and abstraction of cutting fluids from such material, briquetting, or for ease of handling bulk transport. The global chip crusher market is expected to grow at a substantial pace over the forecast period.
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With growing environmental concerns and rising emphasis on sustainable development, the global market is estimated to have an optimistic growth trend in the coming years. Due to rising concerns of global warming, countries such as China and India are increasing their use of scrap iron to lessen the overall carbon footprints.
Recycling scrap decreases the negative environmental effects by reducing the need for iron ore extraction for steel manufacturing in addition to improving the industry's economic feasibility. As a result, there is a significant reduction of harmful gas emissions such as carbon monoxide and carbon dioxide. Additionally, it saves water and energy consumption along with reducing air pollution. Due to these competences, steel scrap has become an excellent source of raw material for steel manufacturers, which is fuelling the growth of this market.
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High cost is a challenge for this market. Due to high cost of chip crushers, many small and medium scale industries are unable to afford a good quality chip crusher. Though there is shift toward the organized sector or established companies operating in the steel industry, a significant portion of the global demand for steel is met by small and medium scale enterprises. However, active chip management has numerous financial benefits that producers can take advantage of to augment their profit margins. The cost of scrap acquired from clean, regularly sized, dehydrated chip is very high, as they can be reused as raw materials. Moreover, these dry chips offer an extraordinarily high-grade re-melt value, as they have been isolated from the bar ends, cutting fluids, and other impurities. The availability of dry chips is essential in realizing a good quality product, which will eventually lead to an increase in demand for crushed metal chips in the coming years.