Refractories Market Achieves Valuation of US$ 30.36 Billion in 2022, Poised to Expand at a CAGR of 4.3%

13.09.2023 : Refractories Market Report Scope and Research Methodology

The Refractories Market has exhibited substantial growth, reaching US$ 30.36 billion in 2022, and is anticipated to surge further at a Compound Annual Growth Rate (CAGR) of 4.3% to nearly US$ 40.77 billion by 2029. The report encompasses an extensive analysis of market dynamics, including key drivers, challenges, and regional trends.

The report integrates a comprehensive analysis of the impact of COVID-19 lockdown measures on market leaders, followers, and disruptors. As lockdown implementations varied by region, the impact also differed. This assessment assists decision-makers in formulating short-term and long-term strategies for companies by region.

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What are Refractories Market Dynamics?

Developing Economies Contribution: Rapid urbanization and industrialization, particularly in emerging economies, have propelled substantial investments in residential and commercial construction. Notably, China's thriving economy and the consequent surge in travel demand have boosted the automotive market, ultimately driving the demand for refractories in the iron, steel, and cement industries.

Environmental Concerns: The recycling of refractory grogs for secondary raw material production has gained prominence due to escalating raw material and freight costs, alongside growing environmental regulations. The United States, for instance, has instituted legislation supporting the recycling of chrome-based refractories in the iron and steel sectors.

Raw Material Price Fluctuations: The volatility in raw material prices poses challenges for manufacturers, suppliers, and customers, leading to market slowdowns. This unpredictability directly impacts refractories' production costs, causing uncertainties in pricing and reduced profit margins, particularly for smaller manufacturers.

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What is Refractories Market Segmentation?

Form Segmentation: The market is categorized into Unshaped Refractories and Shaped Refractories. The Unshaped Refractories segment is poised for rapid growth, characterized by high-temperature resistance and adaptability in applications requiring continuous linings and repairs with minimal downtime.

End-Use Industry: The Iron & Steel sector is projected to dominate the refractories market, with an estimated 65% market share by 2029. Refractories find extensive applications in various facets of iron and steel production, from internal linings of furnaces to vessels for metal and slag transportation.

by Alkalinity

Acidic & neutral
Basic

by Form

Unshaped Refractories
Shaped Refractories

by Material

Graphite
Magnesite
Chromite
Silica
High Alumina
Zirconia
Other

by End-Use Industry

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

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Who are Refractories Market Key Players?

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

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Table of content for the Refractories Market includes:

Part 01: Executive Summary

Part 02: Scope of the Refractories Market Report

Part 03: Global Refractories Market Landscape

Part 04: Global Refractories Market Sizing

Part 05: Global Refractories Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Regional Insights:

Asia Pacific Dominance: The Asia Pacific region, led by China, is expected to be at the forefront of the global refractories market. China's robust economy, coupled with a surge in construction and infrastructure development, has fueled substantial demand for refractories, particularly in the iron and steel industry.

Europe's Strong Foothold: Europe boasts a rich history of refractories production, supported by ongoing investments in research and development to enhance product performance. Efforts like ReStaR underscore the region's commitment to maintaining reliable and precise refractory testing standards.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic
perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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