Chemicals Industry Today
Refractories Market Report 2024-2032: Share, Outlook, Size, Trends, Forecast and Analysis
The latest report by IMARC Group, titled “ Refractories Market Report : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the refractories market report. The global market size reached US$ 26.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
Refractories are specialized materials widely used in various industries, particularly high-temperature applications. They possess exceptional heat resistance, making them suitable for lining furnaces, kilns, and other equipment subjected to extreme heat. They primarily comprise ceramic materials such as alumina, silica, and magnesia. They are also engineered to withstand temperatures that cause ordinary materials to melt or break down. Additionally, they are essential in industries such as steel manufacturing, cement production, and glassmaking, where extreme temperatures are integral to the processes. Nowadays, refractories are available in various forms, including bricks, castables, and monolithic shapes, each designed for specific applications to maintain structural integrity at elevated temperatures, ensuring the efficient operation of industrial processes and making them indispensable in modern manufacturing.
For an in-depth analysis, you can refer sample copy of the report:
Refractories Market Trends and Drivers:
The refractories market is primarily driven by the significant expansion of various industries, such as steel, cement, and glass manufacturing. These industries rely heavily on refractory materials to withstand high temperatures and harsh conditions during their production processes. Moreover, several advancements in refractory materials and manufacturing techniques are improving their performance and durability, thus representing another major growth-inducing factor. Along with this, modern refractories are designed to withstand extreme temperatures and chemical corrosion, making them more attractive to various industries, thus propelling market growth. Besides this, the rising construction industry is escalating the demand for refractory materials that are essential for the construction of furnaces and kilns used to produce building materials such as bricks, tiles, and ceramics, thus accelerating the sales demand. Furthermore, the growing awareness of sustainability has prompted efforts to recycle and reuse refractories, reducing the environmental impact of these materials thus creating a positive market outlook.
Report Segmentation:https://www.imarcgroup.com/refractories-market/requestsample
The report has segmented the market into the following categories:
Breakup by Form:
- Shaped Refractories
- Unshaped Refractories
Breakup by Alkalinity:
- Acidic and Neutral
- Basic
Breakup by Manufacturing Process:
- Dry Press Process
- Fused Cast
- Hand Molded
- Formed
- Unformed
Breakup by Composition:
- Clay-Based
- Nonclay-Based
Breakup by Refractory Mineral:
- Graphite
- Magnesite
- Chromite
- Silica
- High Alumina
- Zirconia
- Others
Breakup by Application:
- Iron and Steel
- Cement
- Non-Ferrous Metals
- Glass
- Others
Regional Insights:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitive Landscape with the key players:
- Chosun Refractories Eng Co. Ltd.
- Compagnie de Saint-Gobain S.A.
- Coorstek Inc.
- Imerys Usa Inc.
- Krosaki Harima Corporation
- Morgan Advanced Materials Plc
- Refratechnik Holding GmbH
- RHI Magnesita GmbH
- Vesuvius Plc
Recent Developments:
- In July 2023, Morgan Thermal Ceramics expanded its Yixing plant, increasing capacity by over 50% to serve the needs of customers in China and other parts of Asia for insulating firebricks used in various industries, emphasizing energy efficiency and CO2 emission reduction in refractory production.
- In April 2023, RHI Magnesita completed the acquisition of the operations of seven refractory companies in the United States, India, and Europe. This acquisition has significantly expanded RHI Magnesita's market portfolio, offering a wide range of solutions for global end-use applications.
- In February 2023, Chosun Refractories Co Ltd and Sarvesh Refractories announced a joint venture to manufacture refractory products for steel companies, automobile companies, and chemical companies in India.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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