The reclaimers market is projected to show steady growth during the forecast period.
Reclaimers are large machines used in bulk material handling applications to recover bulk materials from a stockpile, such as ores and cereals. They have a capacity of cubic meters per hour and are used to reclaim materials at low, medium, and high material flow rates. Reclaimers are composed of a bucket wheel, a counterweight boom, and a rocker that rotates. They use a conveyor system to transport any material reclaimed from the boom to its designated pile. These reclaimers are used in numerous sectors of mining sites, metallurgical plants, and chemical plants. The construction of chemical plants, as well as technological advancements in reclaimers, aided the reclaimer's market growth.
Reclaimers play an essential role in improving the efficiency, sustainability, and cost-effectiveness of chemical plants. This is possible through the recovery and recycling of valuable substances, reducing waste, and minimizing environmental impact. This makes them an ideal option for adopting reclaimers in chemical manufacturing plants. The development of new chemical plants is a major driving factor of reclaimers market growth. Therefore, in October 2023, Haldia Petrochemicals Limited, established India's first on-purpose Propylene plant based on Olefin Conversion Technology (OCT) and the biggest Phenol plant in India at Haldia, West Bengal, making it the country's first integrated player in the Phenolics chain.
The advancement of modern technologies increased reclaimers' capabilities. Their enhanced sorting mechanisms, automated procedures, advanced blending, and mixing have transformed reclaimers more efficiently and adaptable to various materials and environments. This has further fuelled their growth and adoption in a variety of industries. Additionally, TAKRAF offers Drum (Barrel) Reclaimers which feature advanced mixing and blending capabilities. It involves the simultaneous reclamation of thin layers of material across the entire stockpile cross-section and Material discharge overlapping onto the cross-belt conveyor. It contains a nominal reclaim capacity of up to 6,000 t/h and a drum rotation speed of 3 min-1 to 5 min-1 which makes it an ideal solution for numerous industries.
Reclaimers are essential in steel plants as they help in the efficient handling and stockpiling of bulk materials such as iron ore and coal. Reclaimers aid in the creation and maintenance of well-organized raw material stockpiles for easy access and optimal space utilization. This makes it an essential option for the manufacturer to adopt reclaimers which accelerated the reclaimers market growth in steel manufacturing plants. Moreover, in October 2023, voestalpine opened the world's most advanced cutting-edge special steel plant in Kapfenberg.
Asia Pacific is expected to account for a significant share of the reclaimers market due to the establishment of chemical and metallurgical plants. Several key players are investing in manufacturing units due to rapid industrialization in the region. For instance, in January 2022, POSCO and the Adani Group agreed to the construction of a green, environmentally friendly Integrated Steel Mill in Mundra, Gujarat with an investment of USD 5 Billion. Additionally, in May 2022, Kobe Steel introduced the Kobenable Steel manufacturing plant and became the country's first producer of low CO2 blast furnace steel products.
Reclaimers require routine maintenance to ensure peak performance and longevity due to their heavy-duty nature and constant operation in harsh environments. This may increase the operation cost which can be a barrier for businesses, particularly smaller ones with limited budgets. This may limit the adoption of reclaimers which may affect the market growth.