Press release
Refractories Market 2023: Demand, Growth Challenges, Industry Analysis And Forecasts To 2032
Refractories Market
Refractories Market Size, Growth Rate, And Forecast
The global refractories market size grew from $26.55 billion in 2022 to $27.91 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refractories market size is expected to grow to $31.25 billion in 2027 at a CAGR of 2.9%.
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Refractories Market Drivers
Growing demand for iron and steel is driving the refractories market. The demand for iron and steel is growing due to expanded infrastructure building and the growing car and railway industries. The rising demand for energy-efficient steel-making techniques for refractories is estimated to grow. Refractories are crucial lining materials for furnace working interfaces and backup zones during iron and steel manufacturing.
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Refractories Market Segments
1) By Form: Shaped Refractories, Unshaped Refractories
2) By Alkalinity: Acidic And Neutral, Basic
3) By Refractory Mineral: Bauxite, Alumina, Kaolin, Magnesia, Graphite, Zircon
4) By End-Use Industry: Iron And Steel, Power Generation, Non-Ferrous Metals, Cement, Glass, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Refractories Market.
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Refractories Market Key Players
Major competitors in the Refractories Market include RHI Magnesita, Morgan Advanced Materials, Shinagawa Refractories, Saint-Gobain, Chosun Refractories, Harbisonwalker International, Imerys, Krosaki Harima Corporation, Magnezit Group, Refratechnik, Corning Incorporated, IFGL Refractories Ltd., Resco Products Inc., INTOCAST AG, Puyang Refractories Group Co Ltd., Calderys Refractories Limited, Qinghua Refractories, IFGL Refractories Limited, Carboundum Universal Limited and Coorstek Inc
The Business Research Company's "Global Refractories Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Refractories Market Include:
1. Executive Summary
2. Refractories Market Characteristics
3. Refractories Market Trends And Strategies
4. Refractories Market - Macro Economic Scenario
5. Refractories Market Size And Growth
.......
26. Africa Refractories Market
27. Refractories Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Refractories Market
29. Refractories Market Future Outlook and Potential Analysis
30. Appendix
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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…
