4 notable factors driving global Refractories Market trends
Refractories are materials that work under extreme temperatures without changing their shape and chemical properties. These materials are ideal for applications that require high-temperature resilience, such as furnace lining and others. The efficiency and production capacity in the cement industry are predominantly dependent upon the performance of refractories. Nearly 15% of the global refractories production are used in cement industry.
Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/3663
Extensive investment towards infrastructure development such as airports, roads, ports, and energy & power can be seen especially in Asian countries. For example, owing to the presence of numerous infrastructural development projects, Thailand is expected to witness a significant amount of construction expenditure among ASEAN countries, which is likely to be around US$58.5 billion by 2025.
Ceramic fiber based refractories to gain traction
Refractories market based on the form is categorized into brick & shapes, monolithic, and others such as ceramic fibers and raw materials. The raw materials and ceramic fibers segment is predicted to witness a CAGR of 3% up to 2025.
Thermal shock resistance, high-temperature stability, and lighter weight are some key properties of ceramic fibers that make it a suitable raw material for the manufacture of refractories ‘inhouse’.
Robust demand for nonclay-based refractories
With respect to composition, the industry can be classified as clay-based and non-clay refractories. The non-clay refractories industry share is anticipated to witness over 4% through 2025.
Nonclay refractories are manufactured as bricks and pressed shapes. Whereas, magnesite-chrome and alumina materials are fused into molds. Carbonates and oxides of metal including magnesium, zirconium, and aluminum are the prime raw materials used to produce nonclay refractories products.
Preference for handmade and non-ferrous refractories
The refractories market as per the manufacturing process is bifurcated into formed, unformed, hand-molded, fused cast, and dry press process. The hand molded refractories segment generated revenue worth over US$1.5 billion in 2018. Even though these handmade refractories products provide a cost-effective manufacturing option, they substantially lack in rendering smooth surfaces as compared with machine-made refractories products, which could limit their adoption to some extent.
As per the end-user, the refractories market is segmented into iron & steel, non-metallic, non-ferrous metals, and others. The non-ferrous metals segment is predicted to grow at over 3.9% up to 2025. A large amount of refractory materials is required for the manufacture of non-ferrous metals such as copper and aluminum.
Request for customization @ https://www.gminsights.com/roc/3663
Booming non-metallic industry in Europe
Europe refractories market is slated to grow significantly at over 2.5% through 2025. Such growth trend is majorly attributed to the flourishing non-metallic industry in the region. Moreover, the demand for lime, cement, and glass from numerous end-users such as solar panels, aerospace, and automotive is expected to complement the regional industry share in the global market.
Prominent companies functioning in the global refractories market include Seven Refractories, Morgan Advanced Materials, RHI Magnesita, CoorsTek Inc., Vesuvius PLC, Resco Products, Krosaki Harima Corp., IFGL refractories ltd., HarbisonWalker International, and Imerys, among others.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release 4 notable factors driving global Refractories Market trends here
News-ID: 2291792 • Views: 266
More Releases from global market insights
Acoustic Diaphragm Market slated to observe traction for polypropylene material …
With a seismic rise in the demand for consumer products such a loudspeakers, mobile phones and earphones, acoustic diaphragm market size is slated to surge in the next five years. Notably, acoustic diaphragm tends to inter-convert mechanical vibration to sounds and has become highly popular in headphones and speakers. Market penetration of materials such as paper, polycarbonate, polypropylene, carbon fiber and aluminum has become more pronounced in the past several
How will increasing demand for stainless steel transform the Ferroalloys Market …
One of the recent breakthroughs in the global ferroalloys market is the potential acquisition of Ferro Alloys Corporation by Vedanta- a natural resource company early this year. As per reliable sources, the acquisition is expected to complement Vedanta’s current steel business considering the fact that integration of Ferro manufacturing capabilities would offer the possibility to generate significant efficiencies. Meanwhile, yet other company, Boston Metal has declared having raised over USD 20
Polyphenylsulfone Market 2021 | Regional Insights & Growth Forecast To 2025
The polyphenylsulfone market will witness significant expansion with the rise in healthcare concerns and the growing requirement for biocompatible products. Polyphenylsulfone is a high-performance thermoplastic that is amorphous, heat-resistant, and transparent. It showcases high sterilization properties and is widely employed as an alternative for polyetheretheketone and polyaryletherketone. Furthermore, the polymer sees large adoption across various verticals of the healthcare sector to offer superior dimensional stability and higher resistance against
Cosmetic Contact Lens Market 2021: Industry Growth, Competitive Analysis, Future …
Increasing trend of using colored contact lenses may have a positive impact on cosmetic contact lens market outlook. Rising popularity of customized lenses with attractive colors, shades and textures for improving eye appearance is likely to propel industry size. Proliferation of entertainment, online and social media platforms are helping boost the adoption of such lenses. Cosmetic contact lenses are available in several colors such as blue, green, brown, hazel, grey, violet
More Releases for Refractories
Refractories Global Market Key Players - RHI Magnesita GmbH, Saint-Gobain S.A, S …
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
Refractories Market By Top Players Chosun Refractories Co. Ltd, IFGL Refractorie …
Overview of Refractories Market The Refractories market size is expected to grow at a CAGR of 4 %, by value, during the forecast period. The market is estimated to be USD 25.2 billion in 2020 and is projected to reach USD 30 billion by 2025. A comprehensive evaluation of the Refractories Market has been presented in the report for the forecasted period 2019 to 2025. In order to get a deep insight
Actionable Insights in Global Refractories Market
According to a new market research report published by Global Market Estimates, the Global Refractories Market is expected to grow at a CAGR of 3.6% during the forecast period. By Alkalinity (Acidic& Neutral, Basic), By Form (Shaped, Unshaped), By End-Use (Cement, Iron&Steel, Glass, Non-Ferrous Metal, And Others), By Region (North America, Europe, Asia Pacific, And Rest Of The World), Vendor Landscape, End-User Landscape, And Company Market Share Analysis & Competitor Analysis Browse
Global Refractories Market to 2026| Vesuvius, RHI Magnesita, Krosaki Harima, Cho …
Albany, NY, 10th October : Recent research and the current scenario as well as future market potential of "Global Market Study on Refractories: Monolithics & Other Unshaped to Remain Most Attractive Product Form Through 2026" globally. The Persistence Market Research report examines the global refractories market for the forecast period 20182026. The prime purpose of the report is to find opportunities and trends in the market and provide insights pertaining to
Refractories Market - Revolution in Petrochemical Products 2025
Global Refractories Market: Overview Modern manufacturing methods frequently function under extremely high temperatures, at times in excess of 1,000°F, and that calls for ceramic materials that can withstand stronger heat than metals. Refractories are materials that can maintain their form at high temperature and are ideal for kilns, furnaces, reactors, and incinerators. In addition to being heat resistance, refractory materials are also able to deal with physical wear and tear as
Global Fused Cast AZS Refractories Market 2018- Ruishi Group, LONTTO GROUP, Nort …
Apex Market Reports, recently published a detailed market research study focused on the "Global Fused Cast AZS Refractories Market" across the global, regional and country level. The report provides 360° analysis of "Global Fused Cast AZS Refractories Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the Global Fused Cast AZS Refractories industry, and