IMARC Group, a leading market research company, has recently releases report titled “Refractories Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global refractories market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
Refractories refer to numerous inorganic, non-metallic, porous, and heterogeneous materials that are designed to withstand high industrial temperatures and pressures. Some of the most common types of refractory applicable comprise fireclay, high alumina minerals, silica, magnesite, chromite, etc. They are manufactured using substances that are adherent to corrosion from solids, liquids, gases, mechanical and thermal stress, abrasion, gas diffusion, etc. Refractories are used in boilers and furnaces to contain heat and protect the processing equipment from intense temperatures. As a result, they find extensive applications across several sectors, such as energy, chemical, non-ferrous metals, glass, cement and ceramics.
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The expanding steel sector across the globe is primarily augmenting the refractories market. Furthermore, the increasing infrastructural activities, especially in developing countries, are positively influencing the market growth. Apart from this, the escalating demand for these materials, on account of their higher-temperature resistance, easy installation, and the capacity to manufacture bricks in customized shapes, are acting as significant growth-inducing factors. Moreover, the widespread adoption of unshaped refractories for various construction applications is also bolstering the global market. Besides this, numerous technological advancements and the emerging trend of recycling these materials for manufacturing steel are further catalyzing the market growth. Additionally, the growing need for non-ferrous metals and the rising utilization of aerospace, automotive, medical, and electrical castings are also driving the global market. In addition to this, the inflating focus of the leading manufacturers on expanding their production capacities and product portfolio to gain a competitive edge is expected to drive the refractories market in the coming years.
The report has segmented the market into the following categories:
Breakup by Form:
Breakup by Alkalinity:
Breakup by Manufacturing Process:
Breakup by Composition:
Breakup by Refractory Mineral:
Breakup by Application:
Breakup by Region:
The report covers the major market players including:
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