The latest update of the “Refractories Market Size” released by Fortune Business Insights™, Worldwide Industry Size, Share, Growth, Opportunities Analysis in 2022. The Refractories market report encompasses the systematic evaluation of the market situation for the forecast period. The report provides a comprehensive study of the Refractories market with complete insight into the global economy and competitive landscape for business investors. A thorough assessment of competitors and their offerings is conducted that will equip business owners to make strategically astute decisions. The Refractories market report focuses on thoroughly explaining market opportunities, trends, drivers, restraints, and other factors involved in the growth of the market.
Scope of The Study:
The global refractories market size reached $32.25 billion in 2021. The market valuation is predicted to rise from $33.01 billion in 2022 to $44.82 billion by 2029, registering a CAGR of 4.5% during 2022-2029. The growth of this market is driven by increasing demand across major industrial sectors including iron, steel, and other metals, glass, cement, paper & pulp, and petrochemicals. Refractory customization to meet the global demand will further drive the market growth, says Fortune Business Insights™, in its report titled “Refractories Market, 2022-2029.”
Fortune Business Insights™ offers its clients comprehensive research and analysis based on a wide variety of factual inputs, which majorly include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the Refractories Market report requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
Asia Pacific Refractories Market Value Stood at USD 20.76 Billion in 2021Asia Pacific is slated to dominate the global refractories market share during 2022-2029. In 2021, the regional market reached a valuation of USD 20.76 billion. Growth is attributable to increasing steel production in Asia Pacific countries. The World Steel Association reports that the region constitutes more than 70% of the world’s steel production, with China alone accounting for nearly 50%.The market in North America is driven by the expanding iron, steel, and glass sectors. Meanwhile in Europe, growth will be influenced by rising demand across automotive sector.
‣ North America: U.S., Canada, and Mexico
‣ Europe: Germany, UK, Italy, Spain, France, and the Rest of Europe
‣ Asia-Pacific: India, China, Japan, South Korea, Australia, and the Rest of Asia-Pacific
‣ LAMEA: Brazil, Saudi Arabia, South Africa, and the Rest of LAMEA
COVID-19 Impact Analysis:
The outbreak of the COVID-19 pandemic significantly impacted the lives of people and the global economy. The report covers micro- and macro-economic COVID-19 impact analysis. In addition, the report provides a qualitative analysis of the impact of COVID-19 on the Refractories market. Moreover, the market size and share will reflect the impact COVID-19 has had on the Refractories market and subsequent years. In addition, the study outlines the key strategies adopted by the key players during the pandemic. Furthermore, the report highlights the impact of COVID-19 on the supply chain. Moreover, it discusses the influence of the roll-out of the vaccines and the reduction in the chance of infection on the Refractories market. Therefore, the report will focus on providing a post-COVID-19 impact analysis.
Key Benefits For Refractories Market:
- The Refractories market analysis covers in-depth information on major industry participants.
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the Refractories market during the forecast period (2022–2029).
- The report outlines the current market trends and future scenarios of the global Refractories market to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
Segmentation and Targeting:
Essential demographic, geographic, psychographic, and behavioral information about business segments in the Refractories market is targeted to aid in determining the features the company should encompass in order to fit into the business requirements. For the Consumer-based market – the study is also classified with Market Maker information in order to better understand who the clients are, their buying behavior, and patterns.
List of Top Key Players in the Refractories Market:
- Beijing Lier High Temperature Materials Co., Ltd. (China)
- HarbinsonWalker International (U.S.)
- Intocast Group (Germany)
- Alsey Refractories Co. (U.S.)
- Magnezit Group (Russia)
- Imerys (France)
- Posco Chemical (South Korea)
- RHI Magnesita (Austria)
- Saint-Gobain (France)
- Vesuvius (U.K.)
- Puyang Refractories Group Co., Ltd. (China)
- Refratechnik (Germany)
- Ruitai Materials Technology Co., Ltd. (China)
- Kaefer (Norway)
- Plibrico Company, LLC (U.S.)
- Krosaki Harima Corporation (Japan)
The study comprises various parameters such as parent/peer market analysis, top player positioning in the base year, Porter’s five force analysis, value chain analysis, the impact of government regulations on the market, and market dynamics (drivers, restraints, and opportunities), which directly or indirectly impact the growth of the market.
Key Insights of Refractories Market Report:
- Fortune Business Insights™ helps to analyze the value chain of a particular market from all participant’s perspectives.
- The study includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder.
- The Refractories Market dynamics include drivers, restraints, and opportunities of the market. Drivers state the factors that boost the growth of the market, whereas restraints are likely to hamper the market growth. Opportunities are the factors that act as the catalysts of the market.
- All these factors, along with data facts, are covered in the study.
Parent/peer market analysis helps in understanding the parent market and estimating the share of the Refractories market in the parent market.
- In some cases, it exhibits a comparative share analysis between the Refractories market and its peer products.
- What is the main driving factor for the growth of the Asia Pacific Refractories market?
- What are the restraining factors of the market?
- Who are the key market players?
- Which region holds the biggest market share?
- What are the recent trends in the Asia Pacific Refractories market?