Refractories Market: Updated Study Offering Insights & Analysis up to 2028
Stratview Research has recently published a report on the Refractories Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2023 to 2028.
The market is segmented by Form Type (Bricks & Shapes, Monolithic, and Others), Composition Type (Clay-based, Nonclay-based), Type (Acidic, Basic, and Neutral), Manufacturing Process Type (Dry Press Process, Fused Cast, Hand Molded, Formed, and Unformed), by End-User Type (Iron & Steel, Non-metallic Materials, Non-ferrous Metals, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Refractories Market Analysis:
Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Refractories Market is estimated to grow from USD 26.05 billion in 2022 to reach USD 32.62 billion by 2028 at a CAGR of 3.73% during the forecast period.
Some of the companies drive the market growth:
- Chosun Refractories
- CoorsTek Incorporated
- HarbisonWalker International, Inc.
- Imerys S.A.
- Krosaki Harima Corporation
- Morgan Advanced Materials
- RHI Magnesita N.V.
- Saint-Gobain
- Shinagawa Refractories Co., Ltd.
- Vesuvius PLC.
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Segments Analysis
By End-User Type
The market is segmented into iron & steel, non-metallic materials, non-ferrous metals, and others. The Iron & steel segment is projected to witness a significant growth rate in the market during the forecast period. This refractory needs refractories to be used for various applications such as blast furnaces, process gas heaters, basic oxygen-making steel vessels, troughs, electric arc furnaces, and torpedo ladles. Further, China has a well-developed iron and steel market, representing an important factor fueling the refractories production in the country which is having a positive impact on the overall market during the assessment period.
Regional Analysis
Asia-Pacific is estimated to be the largest as well as the fastest-growing region in the market owing to growing production and research and development centers with China, Japan, and India being the major countries as the leading contributors in iron & steel, non-ferrous and glass industries during the assessment period. Factors such as growing industries owing to increasing per capita expenditure of the population and increase in urbanization are the major factors fueling the regional market progress over the assessment period. North America and Europe are also expected to offer substantial progress opportunities during the assessment period.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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