Report Summary:
On PMR, a thorough analysis of the Refractories Market is available. The report includes a detailed presentation of the key market drivers and how they are affecting the growth of the refractories market. Along with the research, a thorough analysis of COVID 19’s effect on the refractories market is provided. The research also discusses the impact of political unrest and natural disasters on the market for refractories. The paper goes into detail on these pressures’ immediate and short-term effects as well as their significant long-term effects on the market for refractories. The study includes sections on segment and regional analyses. The dynamics of important companies in the refractories market are covered in a separate section.
In terms of value, the global refractories market is expected to reach to US$ 41.1 Bn by 2031 end, exhibiting a CAGR of 4.2% over the forecast period
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Market Dynamics
The global refractories market is greatly influenced by the use of refractories in a diverse range of industries involved in the manufacture of steel, cement, nonferrous metals, glass and others. The steel segment accounts for a high market share in terms of value as compared to other end-use industries, on account of the higher demand in terms of volume for refractory products.
Moreover, growth in the steel and cement industries is expected to influence the refractories market positively, marking high market shares of the applications, although the growth rate for the glass segment is the highest. The developments in various end-use industries are expected to create strong growth opportunities for the refractories market. Geographical expansions in new regions in the form of creating sales & distribution networks and establishing local manufacturing infrastructure could provide stability as well as growth opportunities for manufacturers in terms of revenue generation.
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The global refractories market is expected to face some challenges. Factors such as high dependency of refractory manufacturers across the globe on raw material imports from China, and the subsequently volatile scenario of the Chinese refractory raw material producing industry could adversely impact the operations of refractory producers, thereby restricting revenue growth of the global refractories market.
Key Companies-
- RHI Magnesita
- Krosaki Harima Corporation
- Company of Saint-Gobain SA
- Shinagawa Refractories
- Calderys Refractories Limited
- Morgan Advanced Materials plc
- Minerals Technologies Inc.
- Qinghua Refractories
India is anticipated to experience encouraging growth in the global market for refractories, recording a CAGR of 5.4% during the anticipated period. The India market is anticipated to experience a sustained growth rate over the next years, driven by the increase in sales of refractories across a variety of applications.
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Table of Content of this Report:
- Refractories Market Overview and Analysis [ Market Size | Market Y-o-Y Growth | Market Dynamics]
- Refractories Market Overview and Analysis [ Supply Chain | Cost Structure | Pricing Analysis | Raw Material Sourcing Strategy and Analysis | List of Distributors]
- Global Refractories Market Analysis and Forecast By Product Type
- Global Refractories Market Analysis and Forecast By Application Type
- Global Refractories Market Analysis and Forecast By Region [ Europe | North America | APAC | Middle East and Africa]
- Global Refractories Market Company Share, Competition Landscape and Company Profiles
- Research Methodology
- Secondary and Primary Sources
- Assumptions and Acronyms
Regional Market Projections
China is the leading market for refractories estimated to account for around 31.9% market share in terms of revenue in the global refractories market by the end of 2018. The Latin America and Middle East & Africa (LAMEA) region is anticipated to expand at a moderate CAGR in the refractories market through 2026. The China refractories market is projected to consistently hold significant market share in terms of value in the global refractories market during the assessment period, exhibiting a growth rate of 7.7%. Consumption of refractories in China is expected to increase to 2,043 tons by 2026 end.
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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’.
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