Pune, India, Oct. 22, 2021 (GLOBE NEWSWIRE) — According to a report published by Fortune Business Insights™, the global refractories market size is projected to reach USD 42.30 billion by the end of 2027. The increasing product applications across diverse industry verticals will emerge in favor of market growth. The market was worth USD 32.06 billion in 2019 and will exhibit a CAGR of 3.6% during the forecast period, 2020-2027.
Refractories are advanced ceramic materials that are used in applications that require high thermal resistance and temperature handling capabilities.
Besides this, the product possesses properties such as high mechanical strength and excellent resistance to corrosion. The product finds applications in several industries including petrochemical, ceramic, glass, paper and pulp, and others. Accounting for the excellent properties of refractories, the product has witnessed huge demand in recent years. The increasing investment in the research and development of efficient products will bode well for the growth of the overall refractories market in recent years. Consequential to the rising applications and subsequent demand for the product, several companies are operating across the world. The report highlights major factors that have contributed to the growth of the market in recent years.
Get a Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/refractories-market-103287
List of companies profiled in the refractories market report:
- Beijing Lier High Temperature Materials Co., Ltd. (China)
- HarbinsonWalker International (U.S.)
- Imerys (France)
- Intocast Group (Germany)
- Magnezit Group (Russia)
- Posco Chemical (South Korea)
- Puyang Refractories Group Co., Ltd. (China)
- Refratechnik (Germany)
- RHI Magnesita (Austria)
- Ruitai Materials Technology Co., Ltd. (China)
- Saint-Gobain (France)
- Sinosteel Group Corporation Limited (China)
- Vesuvius (UK)
- Kaefer (Norway)
- Plibrico Company, LLC (U.S.)
- Alsey Refractories Co. (U.S.)
- Other Key Players
Major Companies are Focusing on Extending their Production Capacities
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the efforts put in by large scale companies to enhance the production capacities of refractories across the world have had the highest impact on the growth of the market.
In July 2019, HarbinsonWalker announced that it has decided to expand its manufacturing operations. The company will increase its production capacity in White Cloud, Michigan by 35%. The company will invest a mammoth USD 9 million in this expansion. This will emerge as the huge factor in the growth of the steel industry in North America. HarbinsonWalker’s latest step to expand the production of refractories will not just help the company’s cause, but will also have a positive impact on the growth of the global refractories market in the foreseeable future. The increasing demand for the product will attract newer companies in the coming years.
Browse Detailed Summary of This Research Insights:
https://www.fortunebusinessinsights.com/refractories-market-103287
Asia Pacific Likely to Emerge Dominant; Increasing Products will Aid Market Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing product applications and the subsequent rise in the demand for the product across the region will contribute to the growth of the market in the coming years.
Asia Pacific accounts for over 70% of the global steel production; a primary reason why this region will always remain in contention for the leading market across the world. As of 2019, the market in Asia Pacific was worth 20.44 billion and this value is projected to increase at a considerable pace in the coming years. The market in North America will derive growth from the rising demand for the product across diverse end-use industries.
Key Industry Developments:
January 2019: Calderys (Imerys) announced that it has signed a partnership with China Steel. This collaboration is aimed at the development of a joint research lab to push research efforts for the development of superior quality refractories.
Order a Complete Research Report:
https://www.fortunebusinessinsights.com/checkout-page/103287
Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Refractories Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Form
- Bricks & Shaped
- Monolithics & Unshaped
- Market Analysis, Insights and Forecast – By Product
- Clay
- Non-Clay
- Market Analysis, Insights and Forecast – By Alkalinity
- Acidic & Neutral
- Basic
- Market Analysis, Insights and Forecast – By End-Use Industry
- Iron & Steel
- Non-Ferrous Metals
- Glass
- Cement
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued…!
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/refractories-market-103287
Have a Look at Related Research Insights:
Zinc Oxide Market Size, Share & Industry Analysis, By Process (French/ Indirect Process, American / Direct Process, Wet Process, and Others), By Grade (Standard, Chemical, Pharma, Food, and Others), By Application (Rubber, Ceramic, Chemical, Agriculture, Paints & Coatings, Cosmetics & Pharmaceuticals, and Others), and Regional Forecast, 2019-2026
Steel Wire Market Size, Share, Impact of COVID-19 & Industry Analysis, By Grade (Carbon Steel, Stainless Steel, and Alloy Steel), By End-Use Industry (Automotive, Construction, Energy, Agriculture, and Others), and Regional Forecast, 2019-2026
Battery Materials Market Size, Share & Industry Analysis, By Battery Type (Lithium-Ion, Lead Acid), By Material (Lithium-Ion {Cathode [LCO, NMC, NCA, LMO, LFP]), Anode [Artificial Graphite, Natural Graphite], Electrolyte, Separator), (Lead Acid {Cathode, Anode, Electrolyte, Separator}), By Application, and Regional Forecast, 2019-2026
Metal Forging Market Size, Share & Industry Analysis, By Raw Material (Carbon Steel, Alloy Steel, Stainless Steel, Aluminum, Magnesium, Titanium, and Others), By Technology (Closed Die, Open Die, and Others), By Application (Automotive, Mechanical Equipment, Aerospace & Railways, and Others), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Fortune Business Insights™
Linkedin | Twitter | Blogs
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-refractories-market-10093
Got a Questions?
Find us on Socials or Contact us and we’ll get back to you as soon as possible.