Refractories Market size was valued at US$ 31.66 Bn in 2023 and the total revenue is expected to grow at a CAGR of 4.3%, reaching nearly US$ 42.51 Bn.
Refractories Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Refractories Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Refractories market, with forecasts outspreading to the year 2030.
Non-metallic, inorganic materials that can withstand high temperatures are used as refractories. Refractory materials are used in reactors, kilns, incinerators, and furnaces. Refractories are used to make crucibles, moulds, and surfacing flame deflector systems for rocket launch structures, among other things. During the production of refractory, volatile organic compounds (VOCs), sulphur dioxide (SO2), nitrogen oxides (NOx), carbon monoxide (CO), carbon dioxide (CO2), fluorides, and organic particulate matter (PM) are emitted.
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Refractories Market Scope and Methodology:
There has been a significant investment in residential and commercial development as a result of growing urbanisation and industrialization, especially in emerging economies. China's economy is among the fastest-growing in the world, and the country's railways and roadways must continue to expand to meet the growing demand for transport. This has also contributed to China's automobile market expansion. The accelerated pace of infrastructure development in these developing nations has led to a boom in the construction of residential and commercial buildings, which is anticipated to raise the demand for refractory materials in the cement, steel, and iron industries.
Refractories Market Regional Insights:
The market size, growth rate, import and export by region, and other relevant data are all thoroughly analysed in this study. The geographic analysis of the research makes it easy to understand the Refractories market situations in different countries. The markets in Latin America, Africa, Asia Pacific, North America, and the Middle East make up the Refractories market.
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Refractories Market Segmentation:
by Alkalinity
Acidic & neutral
Basic
by Form
Unshaped Refractories
Shaped Refractories
The market is divided into Unshaped Refractories and Shaped Refractories based on the Form. During the projection period of 2024–2030, the unshaped Refractories segment is anticipated to rise quickly at a high CAGR. In situations where high-temperature resistance is required, unshaped refractories are gradually taking the place of conventional refractories. Monolithic linings, sometimes referred to as unshaped refractories, allow for extensive repairs with little downtime and decrease batch delays. The unshaped refractory has an acceptable gradation, high purity, and compactness. It can be made into a continuous liner and structure known as a monolithic refractory.
by Material
Graphite
Magnesite
Chromite
Silica
High Alumina
Zirconia
Other
by End-Use Industry
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
The market is divided into iron and steel, power generation, non-ferrous metals, cement, glass, and others based on the End-Use Industry. By 2030, the iron and steel industry is predicted to account for 65% of the global refractories market. The most common uses of refractories in the iron and steel industry are internal linings of furnaces for iron and steel, furnaces for heating steel before further processing, vessels for holding and transporting metal and slag, flues or stacks through which hot gases are conducted, and other applications.
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Refractories Market Key Players:
1. RHI Magnesita
2. Saint-Gobain S.A
4. Shinagawa Refractories Co. Ltd
5. Krosaki Harima Corporation
6. Corning Incorporated
7. Vesuvius PLC
8. Harbisonwalker International (HWI) Inc.
9. Coorstek Incorporated
10. Morgan Advanced Materials PLC
12. Imerys SA
13. Puyang Refractories Group Co., Ltd.
14. Chosun Refractories Co., Ltd.
15. IFGL Refractories Ltd.
16. Resco Products, Inc.
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Key questions answered in the Refractories Market are:
- What is Refractories ?
- What is the growth rate of the Refractories Market?
- Which are the factors expected to drive the Refractories market growth?
- What is the CAGR at which the Refractories market will grow during the forecast period?
- What are the different segments of the Refractories Market?
- Which is the fastest growing region in the Refractories market?
- What growth strategies are the players considering to increase their presence in Refractories ?
- What are the upcoming opportunities and trends for the Refractories Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Refractories Market?
- Who are the leading companies and what are their portfolios in Refractories Market?
- What segments are covered in the Refractories Market?
- Who are the key players in the Refractories market?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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