Refractories Market 2023 Trend, Size and Growth Analysis Report
The global refractories market is estimated to be US$ 23.3 Billion in 2018 and is projected to reach US$ 26.3 Billion by 2023, at a CAGR of 2.5%. The increase in demand from the iron & steel, glass, non-ferrous metals, and power generation industries fuels the refractories market. The increasing demand from APAC due to the growth of the construction and automotive industries is driving the refractories market growth.
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The demand for refractories is driven by its use for applications in various end-use industries such as iron & steel, glass, and cement. Refractories are used in the linings of high-temperature furnaces, reactors, and other processing units. They act as a thermal barrier between a hot medium and the wall of the containing vessel and also provide a chemical protective barrier against corrosion.
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APAC is estimated to be the largest market for refractories. The growth is mainly attributed to the presence of a large number of refractory manufacturers, rising foreign investments, and growing demand for refractories from the iron & steel, glass, non-ferrous metals, and other industries. China leads the market owing to the abundance of raw materials in the country, increasing use of refractories in the iron & steel, glass, non-ferrous metals, and power generation industries, and numerous developmental strategies adopted by the manufacturers.
The Study Objectives of this report are:
- To identify significant market trends and factors driving, restraining, providing opportunities, and challenging the growth of the refractories industry
- To forecast and analyze the size of the refractories market in key regions, namely, APAC, North America, Europe, South America, and the Middle East & Africa
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the overall refractories industry
- To analyze opportunities in the refractories industry for stakeholders by identifying high-growth segments of the market
Top Key Players in the ” Refractories Market” include are
- RHI Magnesita N.V. (Austria)
- Vesuvius PLC (UK)
- Krosaki Harima Corporation (Japan)
- Shinagawa Refractories Co. Ltd. (Japan)
- Saint-Gobain S.A. (France)
- Corning Incorporated (US)
- Morgan Advanced Materials PLC (UK)
- CoorsTek Incorporated (US)
- HarbisonWalker International (US)
- Imerys SA (France)
- Chosun Refractories Co. Ltd. (South Korea)
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Research Coverage:
The report covers the refractories market on the basis of form, alkalinity, end-use industry, and region. This report aims at estimating the size and future growth potential of the refractories market across various segmentation types. The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.
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