The global refractories market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Refractories Market Size, Share & Industry Analysis, By Form (Bricks & Shaped and Monolithics & Unshaped), By Product (Clay and Non-Clay), By Alkalinity (Acidic & Neutral and Basic), By End-Use Industry (Iron & Steel, Non-Ferrous Metals, Glass, Cement, and Others), and Regional Forecast, 2020-2027”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other refractories market trends. The report is available for sale on the company website.
List of the Leading Companies Profiled in the Refractories Market Research Report are:
• Beijing Lier High Temperature Materials Co., Ltd. (China)
• HarbinsonWalker International (U.S.)
• Imerys (France)
• Intocast Group (Germany)
• Magnezit Group (Russia)
• Posco Chemical (South Korea)
• Puyang Refractories Group Co., Ltd. (China)
• Refratechnik (Germany)
• RHI Magnesita (Austria)
• Ruitai Materials Technology Co., Ltd. (China)
• Saint-Gobain (France)
• Sinosteel Group Corporation Limited (China)
• Vesuvius (UK)
• Kaefer (Norway)
• Plibrico Company, LLC (U.S.)
• Alsey Refractories Co. (U.S.)
• Other Key Players
Refractories are advanced ceramic materials that are used in applications that require high thermal resistance and temperature handling capabilities.
Besides this, the product possesses properties such as high mechanical strength and an excellent resistance to corrosion. The product finds applications in several industries including petrochemical, ceramic, glass, paper and pulp, and others. Accounting to the excellent properties of refractories, the product has witnessed a huge demand in recent years. The increasing investment in the research and development of efficient products will bode well for the growth of the overall refractories market in recent years. Consequential to the rising applications and subsequent demand for the product, several companies are operating across the world. The report highlights major factors that have contributed to the growth of the market in recent years.
Major Companies are Focusing on Extending their Production Capacities
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the efforts put in by large scale companies to enhance the production capacities of refractories across the world have had the highest impact on the growth of the market.
In July 2019, HarbinsonWalker announced that it has decided to expand its manufacturing operations. The company will increase its production capacity in White Cloud, Michigan by 35%. The company will invest a mammoth USD 9 million in this expansion. This will emerge as the huge factor in the growth of the steel industry in North America. HarbinsonWalker’s latest step to expand the production of refractories will not just help the company’s cause, but will also have a positive impact on the growth of the global refractories market in the foreseeable future. The increasing demand for the product will attract newer companies in the coming years.
Asia Pacific Likely to Emerge Dominant; Increasing Products will Aid Market Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing product applications and the subsequent rise in the demand for the product across the region will contribute to the growth of the market in the coming years.
Asia Pacific accounts for over 70% of the global steel production; a primary reason why this region will always remain in contention for the leading market across the world. As of 2019, the market in Asia Pacific was worth 20,444.9 million and this value is projected to increase at a considerable pace in the coming years. The market in North America will derive growth from the rising demand for the product across diverse end-use industries.
View press release for more information @ https://www.globenewswire.com/news-release/2020/07/16/2063420/0/en/Refractories-Market-Size-to-Reach-USD-42-30-Billion-by-2027-Increasing-Investments-in-Development-of-Efficient-Products-with-Improved-Properties-will-Aid-Growth-says-Fortune-Busine.html
Regional Analysis for Refractories Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Refractories Market:
- Executive Summary
- Market Dynamics
- Key Refractories Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Refractories Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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