Post Time：Dec 23,2019Classify:Industry NewsView：1141
This “Refractories Market” report 2019-2024 provides an in-depth analysis of the current trends and future approximations to represent the forthcoming investment plans. The Refractories market report presents the vendor landscape and consistent detailed analysis of the major vendors operating in the market. The report provides a competitive environment of the Refractories market is based on company profiles and their efforts on increasing product value and production.
Market Overview:
The market for refractories is anticipated to register a CAGR of 4.94% during the forecast period (2019-2024). The growing production of non-ferrous materials, increasing construction activities in emerging markets, and demand coming from the glass industry are the factors driving the market growth.
– Emerging countries, like China, Russia, Mexico, and South Africa, are investing heavily in large-scale infrastructure projects, which are expected to significantly boost the growth of the iron and steel industry.
– The increasing environmental awareness, government agencies, and environmental agencies, across the world, are laying down the guidelines regarding the usage and disposal of refractories. This is likely to hinder the market growth.<
Major Key Players of Refractories Market:
Chosun Refractories Co. Ltd
Harbisonwalker International
IFGL Refractories Ltd
Imerys Group
Krosaki Harima Corporation
Magnezit Group
Minerals Technologies Inc.
Morgan Advanced Materials
Refratechnik
Resco Products Inc.
RHI Magnesita
Shinagawa Refractories Co. Ltd
Vesuvius
Scope of the Report:
This report studies the global Refractories market size, industry status and forecast, competition landscape and growth opportunity.
Key Questions Answered in This Report:
Key Market Trends:
Increasing Demand from the Iron & Steel Industry
– The iron and steel industry is the major end-user sector of refractories, which accounts for more than 70% of the market. These materials can withstand high temperatures, ranging from 260°C (500°F) to 1850°C (3400°F), without any major change in their physical properties.
– The major applications of refractories in the iron and steel industry include usage in internal linings of furnaces to make iron and steel, in furnaces for heating steel before further processing, in vessels for holding and transporting metal and slag, in the flues or stacks through which hot gases are conducted, and others.
– In terms of consumption, Asia-Pacific is currently the largest consumer of refractories in the iron and steel industry, followed by Europe and North America. In North America, the United States is expected to witness the highest growth rate in the consumption of refractories in this industry, during the forecast period.
– In the European Union, a mild recovery in the demand for steel continues, while improving the economic sentiments and investment conditions. However, uncertainties in the political landscape, related to the refugee crisis and Brexit, are some of the risks to the economic condition. The demand for steel in the region is anticipated to grow at a slow pace, over the forecast period.
– All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market
China dominates the refractories market in terms of consumption and production, due to the local availability of raw materials, such as magnesite and alumni. Additionally, they are available at cheaper costs, as compared to other producers. The iron and steel industry consumes the largest portion of refractories, globally, as well as in China. Industrial restructuring and the decreased consumption rate of refractories for per ton of steel have impacted the demand for refractories in China, between 2013-2015. However, the steady growth in the production of iron and steel in the country has been driving the growth of the refractories market, in the recent times. Owing to the encouraging government initiatives and a vast consumer base, the chemical manufacturing sector in China is expected to increase at a consistent rate, during the forecast period. The increasing production of chemicals is expected to create an opportunity for the growth of the refractories market in the country, in the near future.
What are the market dynamics?
What are the key market trends?
What are the category growth drivers?
What are the constraints on category growth?
Who are the suppliers in this market?
What are the demand-supply shifts?
What are the major category requirements?
Comprehensive research methodology of Refractories market
In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Refractories market
Insights about market determinants which are inspiring the Refractories market
Detailed and extensive market segments with regional distribution of forecasted revenues
Extensive profiles and recent developments of market players Companies Mentioned
Source: https://ankenyobserver.com/Author: shangyi
