North America Screen Media Market Size, Share, Analysis 2031

Report Description

Market Outlook:

The North America Screen Media Market was valued at USD 1,179.4 Million in 2022 and is projected to reach USD 1,817.2 Million by 2031, expanding at a CAGR of 5.1% during the forecast period. The screen media market is driven by several factors, such as the surging adoption of OLED displays in various applications, increasing demand for displays in the automotive and healthcare industries, and growing popularity of interactive displays.

A screen media is a type of wear part of the screening equipment, which is made of different materials such as polyurethane, rubber, or woven wire. Furthermore, screen media is used several industries such as mining, construction, recycling industry, food & beverage, and pharmaceutical for screening and sizing. The screen media prevent materials that are already cut to the proper size from entering the crusher feed, which reduce wasteful power use and equipment wear.

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Macro-Economic factors

GDP

Screening, classifying, and separating through screening equipment are necessary in mining, construction, and processing operation to process ore, extract metals & minerals, and control the quality of the finished product. Utilizing efficient screening and separation equipment increases output and productivity, while reducing processing costs and the environmental impact. If mining industry and construction industry of North America are analysed, then the construction industry contributed around USD one trillion to the GDP of the United States in 2022.

Environmental Factors

In the US, a complex regulatory framework has been created to oversee the current mining activities where screen media is majorly used. Federal laws from the late 1960s serve as the foundation for the regulatory framework for the mining industry in the US. In many instances, state agencies have taken on these regulatory tasks, and in turn, those agencies have created their own sets of environmental laws, rules, and standards. Furthermore, all new and continuing mining operations, including exploration activities, require government-approved permits. Through this permitting procedure, it is ensured that environmental criteria are upheld throughout the entire mining and metal production process. For example, the operation and closure plans for new mine projects need to specify how a specific site is going to be restored after mining is finished. Negative environmental effects are avoided by taking into account a entire lifecycle of the mining site. Some important federal laws authorizing and guiding environmental regulation of mining in the US are the Environmental Protection Agency (EPA), National Environmental Policy Act (NEPA), Clean Air Act (CAA), Resource Conservation and Recovery Act (RCRA), and Clean Water Act (CWA).

Government Regulation

Government direct business regulations are laws and policies passed at the federal level to protect the public interest and businesses. The mining and construction industries are highly regulated in which the use of screening equipment is very significant. The Federal Land Policy and Management Act, which stipulates those rights under the General Mining Law, such as the right of entry and exit, are unaffected by the law and identifies the public interest in domestic mineral sources, is one of the laws that regulates these businesses. The FLPM Act, however, stipulates that mining permits are not supposed to lead to the unneeded or excessive destruction of public areas. On the other hand, the rules that set the boundaries of the construction business are continually changing, due to the evolving the construction industry.

Market Dynamics

Market Driver - Increasing mining activities in North America

Growing mining activities in North America is expected to boost the market during the forecast period. Extraction of gold, silver, molybdenum, copper, and zinc takes place at several mines across North America. A majority of US states with active metal mining industries are located in the Midwest, including Arizona, Nevada, Minnesota, Michigan, Colorado, and Utah. Together with Alaska, these states produce nearly 88% of the economic output of the mining sector. The US mining sector has been active for many years and has a significant impact on the nation's industrial output. As of 2019, over 13,000 mines are operational in the US, valued at USD 61 billion. Moreover, coal is a useful commodity that has been mined for several years. Crushed rock, cement, gold, construction and industrial sand and gravel, iron ore, copper, and other materials are also frequently mined in the US. The value of the US mining sector is expected to reach USD 82.3 billion in 2020, as a result of the combination of all these resources. These various mines are dispersed around the nation, with certain areas specializing in various materials. Some examples of large mining projects in the US are Morenci mine in Arizona.

Market Driver - Growing investment in construction industry

Growing investments in construction & infrastructural projects is expected to fuel the market in North America in the coming years. Screening equipment is one of the many heavy-duty tools and pieces of equipment that are used in the construction industry. Different types of screen media are installed in screening equipment, which is further used in the construction industry. These machines are used to separate garbage from usable material on-site. Another typical application of screen media in the construction & building industry is to prepare rocks for pavement. For instance, mobile screens are used on building construction sites. Furthermore, the widely utilized screening media type for construction is woven wire vibrating screen mesh. The value of the construction industry in the US was estimated to be over 1.6 trillion dollars in 2021. Furthermore, residential, non-residential, and non-building construction in the US increased in value overall between 2020 and 2021 by more than 8%. The construction work on the Project Connect Texas began in February 2022. The ambitious Project Connect would upgrade the transportation system of Austin, Texas. The Capital Metro, in charge of the enormous project, is expected to add two light rail lines, one bus rapid transit line, and one commuter train line to the red line, which are currently present. The program’s list of general investments includes a transport tunnel through the city's center, an all-electric fleet of buses and trains, and new park-and-ride spots all around the service area. It plans to have 400 electric buses and trains operating by 2040.

Market Restraint/Challenges - Regulatory Challenges & Environmental Concerns

The US has a robust legal system that regulates mining operations and the proper decontamination of abandoned mines. Many states have created their own mining regulating acts; however, the federal rules are typically as strict as the state’s regulation. All new and existing mining activities in the US, including exploratory missions, are required to have a government-approved permit, which is the first level of environmental restriction placed on mining operations. The purpose of this initial layer is to ensure that all environmental regulations are adhered to throughout the entire mining operation. The National Environmental Policy Act (NEPA), despite recent reductions in its authority, continues to serve as the foundation for all environmental regulations in the US. NEPA specifies all procedures for evaluating the environmental effects of all federal orders and actions, including the approval of mine development on federally held lands. Manufacturers are forced to closely comply with state rules and regulations, due to these regulatory factors, which function as a market barrier.

Market Restraint/Challenges - Lack of skilled workforce

Multiple factors contribute to the imbalance in the labor supply. For instance, the pandemic accelerated the retirement of a large number of baby boomers, accounting for 3.2 million who left the workforce in 2020. Approximately 40% of the existing construction workforce in the US is anticipated to retire in the coming years. The local mining industry is facing a serious worker availability issue. Issues such as safety, destruction of indigenous cultural sites, and workplace culture in the mining industry have all negatively impacted the availability of skilled labor in the industry. According to the American Opportunity Survey, the unemployed have serious concerns about their physical and mental health as well as lack of childcare. These barriers are preventing workers from returning to the workforce.

Market Opportunity - Growing investment in recycling and waste management sector

Recycling screening is a technique for separating waste materials and classifying them into several levels according to their size. Typically, screening equipment consists of a drive that moves the recyclable material up and down, a screen media, and a deck that supports the screen media. Additionally, this screening technology makes it simple and quick to organize solid trash. This indicates that valuable components are recovered, thus reducing the financial and environmental implications of waste. Additionally, improved screening aids in recycling composites, which was difficult previously. The US is one of the key producers of waste. Thus, waste management plays a major role in the US. Municipal solid trash, industrial garbage, and hazardous waste are managed by the waste management companies in the US. The US is home to key waste management businesses, including Republic Services and Waste Management Inc. The waste management market in North America was worth USD 208 billion in 2019. Under the 1976 Resource Conservation and Recovery Act (RCRA), the EPA (Environmental Protection Agency) is responsible for regulating waste in the US. The US Federal Government has allotted budget to improve the waste management cycle. . The National Recycling Strategy is implemented with the help of grants from the Solid Waste Infrastructure for Recycling program, which supports improvements to local post-consumer materials management and recycling programs and helps local waste management authorities upgrade their regional waste management systems. All these factors are anticipated to create growth opportunities in the market in the coming years.

Scope of the Report

The report on the global Smart Lockers Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

Based on product type, the North America Screen Media Market is segmented into woven wire mesh, polyurethane, rubber, perforated plates, others. The polyurethane segment is expected to grow at a rapid pace with a significant CAGR during the forecast period. The growth of the market is attributed to the increasing demand for polyurethane screen media in mineral processing, due to its higher wear resistance capabilities. Furthermore, the other qualities of polyurethane include ergonomic polyurethane screens that won’t buckle in harsh operation.

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Based on end-user, the North America Screen Media Market is segmented into construction, mining, oil & gas, pharmaceuticals, food & beverage, and others. The mining segment held the largest market share of in 2022 and is projected to expand at a substantial CAGR during the forecast period, owing to rising demand for high-resolution and immersive devices, such as 4K and Ultra-HD TVs, monitors, and projectors, that can support virtual reality and augmented reality applications for mining. These devices can offer higher clarity and detail, as well as enable realistic and interactive simulations of mining environments and operations.

Region Outlook

On the basis of country, the North America Screen Media Market is segmented into U.S and Canada. The market in North America is growing, owing to a high demand for technology-intensive products, such as OLED and micro-LED displays, that offer superior image quality, contrast, and color accuracy. The region is also experiencing a growing popularity of user-generated video content, such as short-form videos, live streams, and podcasts, that cater to users’ interests and preferences.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the North America Screen Media Market

• Historical, Current, and Projected Market Size in terms of Value.

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on North America Screen Media Market Performance