Refractories Market Valued at US$ 24.89 Billion in 2022, Expected...

Refractories Market Valued at US$ 24.89 Billion in 2022, Expected to Reach US$ 31.88 Billion by 2029

Posted 2023-07-14 09:42:50

Refractories Market Overview

Maximize Market Research's Market Study On The Refractories Market Sector Provides A Thorough Analysis Of The Worldwide Market In 2022. It Includes A Broad Range Of Elements From The Refractories Market's Kind, Distribution Channel, End-User, And Industrial Sector. The Research Also Provides A Detailed Prognosis Through 2029, Along With Information On Recent Developments, Mergers And Acquisitions, And Business Strategies Used By Well-Known Organisations. For Beginners Hoping To Learn More About The Sector, This Study On The Refractories Market Is An Excellent Resource.

Refractories used in metallurgical operations must be strong enough to support a range of loads. Because of this, refractory materials need to be extremely strong mechanically, even at operating temperatures, in order to bear the heaviest loads without cracking. Refractory materials are used in reactors, kilns, incinerators, and furnaces. Refractories are used to create crucibles and moulds for casting glass and metal, as well as surfacing flame deflector systems for rocket launch structures. Some examples of typical refractory materials are fireclay, high alumina, silica brick, magnesisite, insulating materials, and monolithic refractories.

Dynamics of the global refractories market:

A significant amount of money has been invested in residential and commercial building, particularly in growing economies like China and India. With one of the quickest economies in the world, China's railroads and highways must continue to expand to accommodate the nation's enormous travel demand. This has also benefited the development of China's automobile sector. The accelerated pace of infrastructure development in these developing nations has led to a boom in the construction of homes and businesses, which is anticipated to raise demand for refractories in the cement and iron and steel industries.

During the production of refractory materials, toxic gases such as sulphur dioxide (SO2), nitrogen oxides (NOx), carbon monoxide (CO), carbon dioxide (CO2), fluorides, and volatile organic compounds (VOCs) are emitted.

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Refractories Market Scope

A Complete Overview Of The Refractories Market And Dynamic Research Technique Are Provided In The Maximize Market Research Study. Along With The Pestal, Porter, And Swot Analyses, The Research Offers Details On Major Growth Drivers, Market Dynamics, Challenges, And Scope. The Study Covers The Most Recent Innovations And Cutting-Edge Technological Advancements In The Worldwide Refractories Market. It Provides Thorough Data For The Global Refractories Market, Such As Market Shares, Supply Chain Analyses, And Critical Success Criteria. Insights And Comments From Industry Professionals Who Represent The Top Leading Companies In The Worldwide Refractories Market Are Presented In The Report's Concluding Part. The Research Includes Historical Years (2018-2020), Base Year (2022), Expected Year (2022), And Projection Years (2023-2029) For A Certain Time Period.

Refractories Market Value :

Refractories Market Size Was Valued At Us$ 24.89 Bn. In 2022 And The Total Revenue Is Expected To Grow At A Cagr Of 3.6%, Reaching Nearly Us$ 31.88 Bn.

Refractories Market Segmentation

Global Refractories Market, by Alkalinity (2022-2029)

• Acidic & neutral
• Basic

Global Refractories Market, by Form (2022-2029)

• Unshaped Refractories
• Shaped Refractories

The market is divided into Unshaped and Shaped Refractories based on the Form. The unshaped Refractories market is anticipated to expand quickly between 2023 and 2029 at a CAGR. In applications that require high-temperature resistance, unshaped refractories are progressively taking the place of conventional refractories. Monolithic linings, commonly referred to as unshaped refractories, minimise downtime and cut down on batch delays. The unshaped refractory has a good gradation, excellent purity, and compactness. A monolithic refractory, which is a continuous lining and structure, can be made from it.

Global Refractories Market, by End-Use Industry (2022-2029)

• Iron & Steel
• Power Generation
• Non-Ferrous metals
• Cement
• Glass
• Others

The market is divided into Iron & Steel, Power Generation, Non-Ferrous Metals, Cement, Glass, and Others based on the end-use industry. By 2029, the iron & steel segment is anticipated to have a 65% market share. Refractories are frequently used in the iron and steel industry for internal linings of furnaces, 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.

The World Steel Association projects that by 2029, global steel demand would have increased by 1.7% to 1.81 million metric tonnes from the 1.76 million metric tonnes it was in 2022. This represents the prognosis for demand on the worldwide market, which is crucial for increasing steel production. These are the main factors that will support this segment's expansion in the worldwide refractories market from 2023 to 2029.

Global Refractories Market, by Material (2022-2029)

• Graphite
• Magnesite
• Chromite
• Silica
• High Alumina
• Zirconia
• Other

Refractories Market Key Players

1. Magnesita Refratarios S.A.
2. Saint-Gobain S.A
3. RHI AG
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
11. Lhoist
12. Imerys SA
13. Puyang Refractories Group Co., Ltd.
14. Chosun Refractories Co., Ltd.
15. IFGL Refractories Ltd.
16. Resco Products, Inc.

Refractories Market Regional Analysis

The Report Presents Statistical Data On Market Growth For Each Influential Economy In The Global Refractories Market. It Encompasses Various Regions, Including North America, Asia-Pacific, Europe, Latin America, And Mea, Providing Comprehensive Insights. The Report Covers Emerging Trends, Population Growth, And Government Strategies And Regulations, Offering A Holistic View Of The Market. The Concluding Section Of Regional Insights Provides Historical And Forecasted Data On The Market Influence Of All Economies Within The Respective Regions.

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Key Questions Answered In The Refractories Market Report Are:

Which Region Held The Largest Market Share In The Refractories Market?
What Are The Opportunities For The Refractories Market?
What Are The Restraining Factors In The Refractories Market?
Who Are The Key Players Of The Refractories Market?

Key Offerings:

Market Share, Size, And Forecast By Revenue|2022-2029
Market Dynamics- Growth Drivers, Restraints, Investment Opportunities, And Key Trends
Market Segmentation: A Detailed Analysis By Refractories
Landscape- Leading Key Players And Other Prominent Key Players.

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