Press release
Refractories Market Expected to Witnessed a Significant Growth of USD 40,007.33 Million Globally by 2025, at CAGR of 4.0%
Refractories Market
Overview of the Global Refractories Market:
The Global Refractories Market is expected to reach USD 40,007.33 Million by 2025 from USD 29,518.47 Million in 2017, at a CAGR of 4.0% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The major factors contributing to the growth of the market includes factors such as increasing prevalence for non-metallic minerals industry, growing infrastructure in emerging countries and demand of refractories from iron & steel industry.
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The key market players for Global Refractories Market are listed below:
1 Vesuvias
2 RHI Magnesita
3 Saint Gobain
4 Morgan Advanced Materials
5 Shinagawa Refractories Co., Ltd.
6 COORSTEK, INC.
The market is further segmented into: Alkalinity, Product Type, Form type, End User and Fusion Temperature.
The Global Refractories Market is segmented based on Alkalinity into three notable segments; Acidic & Neutral Refractories and Basic Refractories. In 2018, Acidic & Neutral Refractories Market is likely to dominate market with 70.9% shares and is estimated to reach USD 28,693.90 million by 2025. It is growing at the highest CAGR of 4.1% in the forecast period.
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The Global Refractories Market is segmented based on Form Type into three notable segments; Bricks, Monolithic and others. In 2018, the Bricks Market is estimated to dominate market with 55.4% market share and will collect around USD 21,846.67 million by 2025, rising with a CAGR of 3.8%. However, the monolithic market is growing at the highest CAGR of 4.4% and is estimated to cross USD 15,202.58 million in 2025 from USD 10,868.90 million in 2017.
The Global Refractories Market is segmented based on product type into two notable segments; Clay and Non-Clay. In 2018, the Clay Market is estimated to dominate market with 60.7% shares and will collect around USD 24,785.97 million by 2025, rising with the highest CAGR of 4.3%.
The Global Refractories Market is segmented based on Fusion Temperature into three notable segments; Normal Refractory (1580-1780°C), High Refractory (1780-2000 °C) and Super Refractory (>2000 °C). In 2018, the normal refractory (1580-1780°C) market is estimated to dominate market with 51.1% shares and will collect around USD 21,013.37 million by 2025, rising with the highest CAGR of 4.4%.
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The Global Refractories Market is segmented based on End User into six notable segments; Iron & Steel, Cement & Lime, Energy & Chemicals, Glass, Non-Ferrous Metal and others. In 2018, the Iron & Steel Market is estimated to dominate market with 79.3% shares and will collect around USD 32,142.94 million by 2025, rising with the highest CAGR of 4.2%.
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Market Insights
Refractories market is estimated to grow at the growth rate of 4.13% for the forecast period of 2020 to 2027. Demand for electrical, automotive, aerospace, glass, cement industries will drive the growth of the market.
Refractories are heat resistant than other metals, they are used for lining hot surfaces and found inside many industrial processes. They are available in different shapes and sizes, are pressed, molded or produced in interlocking…
