Refractories Market Projected to Reach 36.17 Billion USD by 2022
Refractories Market, by Region, 2022 © copyright by MarketsandMarkets
The report "Refractories Market by Form (Shaped, Unshaped), Alkalinity (Acidic & Neutral, Basic), End-Use Industry (Iron & Steel, Glass, Cement, Non Ferrous Metal), and Region (Asia-Pacific, North America, Western Europe) - Global Forecast to 2022", The global refractories market is projected to reach USD 36.17 Billion by 2022, at a CAGR of 3.89% between 2017 and 2022. By volume, it is projected to reach 56.83 Million tons by 2022, at a CAGR of 3.45%.
Browse 100 market data tables and 40 figures spread through 154 pages and in-depth TOC on "Refractories Market - Global Forecast to 2022"
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This growth is attributed to the increase in infrastructural developments in developing countries such as China, India, and Brazil and high growth rate witnessed by the non-metallic minerals industry. The growing demand for high-grade refractories from iron & steel industries is also an important factor driving the refractories market.
Unshaped refractories: The largest segment of refractories market by form
Unshaped refractories were the largest segment of the global refractories market, by form in 2016, followed by shaped refractories. The demand for unshaped refractories is driven due to its effective and substantial usage in cement, glass, and ceramic industries. Its availability in various compositions and morphologies is expected to drive its demand globally.
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Acidic & Neutral refractories: The largest segment of refractories market, by alkalinity
Acidic & neutral refractories were the largest segment, of the global refractories market, by alkalinity in 2016. Acidic refractories are rich in silica and alumina content and are mainly used in the glass and ceramics industry, which is expected to drive the market of acidic & neutral refractories. Acidic & neutral refractories are inexpensive, which further fuels their demands globally. The usage of acidic & neutral and basic refractories majorly depends on the kind of end-use industry it is required in.
Iron & steel industry: The largest segment of the refractories market, by end-use industry
Iron & steel industry was the largest segment of the global refractories market, by end-use industry in 2016. This large share is attributed to the increasing technological advancements and the need for specialized refractory materials and products. Additionally, increasing infrastructure and construction activities in developing economies, such as India, Brazil, Mexico, Russia, and others are contributing significantly to steel consumption, and consequently leading to an increase in the usage of refractories.
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Asia-Pacific: The largest refractories market, by region
The Asia-Pacific region was the largest market for refractories, in terms of value and volume, in 2016. The large market size of Asia-Pacific is due to the shifting of manufacturing facilities by large market players from mature markets such as Europe and North America to Asia-Pacific and Middle East & Africa. The large players prefer investing in these regions because they offer a wide range of market penetration opportunities due to the presence of mineral deposits such as magnesite, silica, and alumina, which are the key raw materials used to manufacture refractories, and the abundant availability of workforce and consumers.
Refractories manufacturers, such as RHI AG (Austria), Saint-Gobain S.A. (France), Vesuvius Plc. (U.K.), Morgan Advanced Materials Plc. (U.K.), Shinagawa Refractories Co., Ltd. (Japan), Corning Incorporated (U.S.), Coorstek Incorporated (U.S.), Magnesita Refratarios S.A. (Brazil), Krosaki Harima Corporation (Japan), and HarbisonWalker International Inc. (U.S.) are covered in the report.
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Browse 100 market data tables and 40 figures spread through 154 pages and in-depth TOC on "Refractories Market - Global Forecast to 2022"
https://www.marketsandmarkets.com/Market-Reports/refractories-market-222632393.html
Early buyers will receive 10% customization on this report.
This growth is attributed to the increase in infrastructural developments in developing countries such as China, India, and Brazil and high growth rate witnessed by the non-metallic minerals industry. The growing demand for high-grade refractories from iron & steel industries is also an important factor driving the refractories market.
Unshaped refractories: The largest segment of refractories market by form
Unshaped refractories were the largest segment of the global refractories market, by form in 2016, followed by shaped refractories. The demand for unshaped refractories is driven due to its effective and substantial usage in cement, glass, and ceramic industries. Its availability in various compositions and morphologies is expected to drive its demand globally.
Request FREE Sample Pages @ https://www.marketsandmarkets.com/requestsample.asp?id=222632393
Acidic & Neutral refractories: The largest segment of refractories market, by alkalinity
Acidic & neutral refractories were the largest segment, of the global refractories market, by alkalinity in 2016. Acidic refractories are rich in silica and alumina content and are mainly used in the glass and ceramics industry, which is expected to drive the market of acidic & neutral refractories. Acidic & neutral refractories are inexpensive, which further fuels their demands globally. The usage of acidic & neutral and basic refractories majorly depends on the kind of end-use industry it is required in.
Iron & steel industry: The largest segment of the refractories market, by end-use industry
Iron & steel industry was the largest segment of the global refractories market, by end-use industry in 2016. This large share is attributed to the increasing technological advancements and the need for specialized refractory materials and products. Additionally, increasing infrastructure and construction activities in developing economies, such as India, Brazil, Mexico, Russia, and others are contributing significantly to steel consumption, and consequently leading to an increase in the usage of refractories.
Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=222632393
Asia-Pacific: The largest refractories market, by region
The Asia-Pacific region was the largest market for refractories, in terms of value and volume, in 2016. The large market size of Asia-Pacific is due to the shifting of manufacturing facilities by large market players from mature markets such as Europe and North America to Asia-Pacific and Middle East & Africa. The large players prefer investing in these regions because they offer a wide range of market penetration opportunities due to the presence of mineral deposits such as magnesite, silica, and alumina, which are the key raw materials used to manufacture refractories, and the abundant availability of workforce and consumers.
Refractories manufacturers, such as RHI AG (Austria), Saint-Gobain S.A. (France), Vesuvius Plc. (U.K.), Morgan Advanced Materials Plc. (U.K.), Shinagawa Refractories Co., Ltd. (Japan), Corning Incorporated (U.S.), Coorstek Incorporated (U.S.), Magnesita Refratarios S.A. (Brazil), Krosaki Harima Corporation (Japan), and HarbisonWalker International Inc. (U.S.) are covered in the report.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets