Unsung Heroes of Industrial Durability: The Role of Refractories

Refractories Industry Synopsis

Maximize Market Research, an internationally recognized business consulting agency, has released its most recent study, entitled "Refractories Market." Maximize Market Research caters to the requirements of major and medium-sized enterprises worldwide, having a sizeable customer spread across over 34 countries. Based on research experts' observations, the Asia Pacific region presents a highly promising opportunity for Refractories market and component makers in the upcoming decade. The market has a positive growth trend despite an economic slowdown, according to the report's thorough analysis of the post-Covid lockdown performance of the market.

Market Forecast:

Global Refractories Market size was valued at US$ 31.66 Bn in 2023 and the total revenue is expected to grow at a CAGR of 4.3%, reaching nearly US$ 42.51 Bn.

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Refractories Market Extent

From 2023 to 2029, industry analysts predict a consistent growth in the Refractories market. Important participants in the sector are expected to continue putting strong plans into action in order to drive swift sectoral growth in 2022.

The Refractories market analysis report includes a wide range of information, including import and export consumption, supply and demand dynamics, costs, market shares, sales volumes, revenues, and gross profits. Additionally, each manufacturer involved in the Refractories market is examined in detail, with respect to their manufacturing bases, capacity, production, factory prices, revenues, and market share. Several nations (regions) are covered in detail in the report, including the United States (USA), Canada, Mexico, Germany, France, the United Kingdom (UK), Russia, Italy, China, Japan, South Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia.

Segmentation

by Alkalinity

Acidic & neutral
Basic

by Form

Unshaped Refractories
Shaped Refractories

The market is divided into Unshaped Refractories and Shaped Refractories based on the Form. During the projection period of 2024–2030, the unshaped Refractories segment is anticipated to rise quickly at a high CAGR. In situations where high-temperature resistance is required, unshaped refractories are gradually taking the place of conventional refractories. Monolithic linings, sometimes referred to as unshaped refractories, allow for extensive repairs with little downtime and decrease batch delays. The unshaped refractory has an acceptable gradation, high purity, and compactness. It can be made into a continuous liner and structure known as a monolithic refractory.

by Material

Graphite
Magnesite
Chromite
Silica
High Alumina
Zirconia
Other

by End-Use Industry

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

The market is divided into iron and steel, power generation, non-ferrous metals, cement, glass, and others based on the End-Use Industry. By 2030, the iron and steel industry is predicted to account for 65% of the global refractories market. The most common uses of refractories in the iron and steel industry are internal linings of furnaces for iron and steel, furnaces for heating steel before further processing, vessels for holding and transporting metal and slag, flues or stacks through which hot gases are conducted, and other applications.

The World Steel Association projects that by 2030, there would be 1.81 million metric tonnes of steel consumed worldwide, a 1.7% rise from 1.76 million metric tonnes in 2023. This represents the demand prognosis for steel on the worldwide market, which is crucial for increasing steel output. These are the main factors that are anticipated to accelerate this segment's growth during the projection period.

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Principal 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.

Important inquiries addressed in the Refractories Market Report are:

Refractories Market: What Is It?
What is the Refractories Market's forecast period?
What level of competition does the Refractories market have?
In the Refractories Market, which region had the biggest market share?
What prospects does the Refractories Market have?
Which issues are holding back the Refractories market?
Which companies dominate the Refractories market?

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Offerings that are important:

Market Size, Share, and Revenue Forecast by Year
Dynamics of the market: Opportunities for investment, constraints on growth, and important trends
A comprehensive analysis of market segmentation by Refractories Market Landscape—the leading players and other notable companies.

Concerning Maximize Market Research:

Comprising experts from many sectors, Maximize Market Research is a comprehensive market research and consulting firm. Industry and science, electronics, industrial equipment, technology, communication, vehicles, chemicals, general goods, drinks, personal care, and automated systems are a few of the sectors we handle. We offer a variety of services, including competitive analysis, production and demand analysis, client impact studies, industry estimations validated by the market, technological trend analysis, critical market research, and strategic advise.

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