Refractories Market 2021 Demands to Sustain in Future Industry Size, Growth, Revenue, Global Statistics and Forecast to 2030 | at a CAGR of 3.5%

The global refractories market in 2020 was approximately USD 23.5 Billion. The market is expected to grow at a CAGR of 3.5% and is anticipated to reach around USD 27.5 Billion by 2025. The refractories market is majorly driven by increasing infrastructural activities, particularly in developing countries. In comparison to the conventionally used tools, refractories have high-temperature resistance, are easier to install and can manufacture bricks in desired shapes are the factors responsible for market growth.

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Refractories or refractory materials are materials which are made from thermally stable mineral aggregates, additives and a binder phase. They are non-metallic, inorganic, heterogeneous, and porous materials which have resistance to high temperatures such as 500°C, 1500°C or even more, without going through physicochemical changes while still remaining in touch with metals, gases, and molten slag.

There is also an exceptional adoption of unshaped refractories for several construction applications. In addition, the technological advancements and the rising trend of recycling refractory materials for manufacturing steel are also majorly influencing the refractories market growth. But, the factors such as restrictions on the use of refractories owing to the rising environmental concerns might impede market growth.

The market for refractories is intensely competitive and is highly fragmented. The vendors in the refractories market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their products.

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Based On The Type, The Global Refractories Market Segmented Into

Iron & Steel
Cement/Lime
Nonferrous Metals
Glass
Others

Based On The Application, The Refractories Market Segmented Into

Shaped Refractories
Unshaped Refractories

Based On The Type Of Region, The Global Refractories Market Segmented Into

Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America [United States, Canada, Mexico]
Middle East & Africa [GCC, North Africa, South Africa]
South America [Brazil, Argentina, Columbia, Chile, Peru]

Based On The Type Of Region, The Global Refractories Market Segmented Into

RHI AG
RHI Magnesita
Vesuvius
Plibrico
Morgan Advanced Materials
Saint-Gobain
EKW REFRACTARIOS
Mckeown International
Refractarios Naucalpan
Piro
ZEDMEX
Sajuri
Refleon
RATSA
REFRATECHNIK MEXICO
ASC Mexico
Others

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