Published by Persistence MarketResearch
Posted on October 7, 2021
Persistence Market Research delivers key insights on the global refractories market in its latest publication. The long-term outlook on the global refractories market remains positive, with market value expected to increase at a CAGR of 4.2% over the forecast period (2018 – 2026). Among product forms, the monolithic & other unshaped segment is expected to expand at a higher CAGR in terms of value over the forecast period.
Global sales of refractories is estimated to be valued at US$ 29,467.3 Mn by the end of 2018. China is estimated to account for a value share of 53.6% in the global refractories market by 2018 end and is anticipated to retain its dominance throughout the forecast period. In this report, Persistence Market Research throws light on the drivers and restraints likely to impact growth of the refractories market during the forecast period.
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Market Dynamics
The global refractories market is greatly influenced by the use of refractories in a diverse range of industries involved in the manufacture of steel, cement, nonferrous metals, glass and others. The steel segment accounts for a high market share in terms of value as compared to other end-use industries, on account of the higher demand in terms of volume for refractory products. Moreover, growth in the steel and cement industries is expected to influence the refractories market positively, marking high market shares of the applications, although the growth rate for the glass segment is the highest.
The developments in various end-use industries are expected to create strong growth opportunities for the refractories market. Geographical expansions in new regions in the form of creating sales & distribution networks and establishing local manufacturing infrastructure could provide stability as well as growth opportunities for manufacturers in terms of revenue generation.
However, the global refractories market is expected to face some challenges. Factors such as high dependency of refractory manufacturers across the globe on raw material imports from China, and the subsequently volatile scenario of the Chinese refractory raw material producing industry could adversely impact the operations of refractory producers, thereby restricting revenue growth of the global refractories market.
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Segmentation Analysis
The refractories market is segmented on the basis of product form, such as monolithic & other unshaped, and bricks & other shapes. It is also segmented on the basis of refractory mineral used, such as bauxite, alumina, kaolin, magnesia, graphite & zircon. It is further segmented on the basis of end-use industry, such as steel, cement, nonferrous metals, glass and others.
Regional Market Projections
China is the leading market for refractories estimated to account for around 31.9% market share in terms of revenue in the global refractories market by the end of 2018. The Latin America and Middle East & Africa (LAMEA) region is anticipated to expand at a moderate CAGR in the refractories market through 2026. The China refractories market is projected to consistently hold significant market share in terms of value in the global refractories market during the assessment period, exhibiting a growth rate of 7.7%. Consumption of refractories in China is expected to increase to 2,043 tons by 2026 end.
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Company Profiles
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About us:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
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The post Research Delivers Insight Into The Refractories Market Poised To Expand At 4.2% CAGR By 2018- 2026 appeared first on Lake Shore Gazette.
Persistence Market Research delivers key insights on the global refractories market in its latest publication. The long-term outlook on the global refractories market remains positive, with market value expected to increase at a CAGR of 4.2% over the forecast period (2018 – 2026). Among product forms, the monolithic & other unshaped segment is expected to expand at a higher CAGR in terms of value over the forecast period.
Global sales of refractories is estimated to be valued at US$ 29,467.3 Mn by the end of 2018. China is estimated to account for a value share of 53.6% in the global refractories market by 2018 end and is anticipated to retain its dominance throughout the forecast period. In this report, Persistence Market Research throws light on the drivers and restraints likely to impact growth of the refractories market during the forecast period.
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/3510
Market Dynamics
The global refractories market is greatly influenced by the use of refractories in a diverse range of industries involved in the manufacture of steel, cement, nonferrous metals, glass and others. The steel segment accounts for a high market share in terms of value as compared to other end-use industries, on account of the higher demand in terms of volume for refractory products. Moreover, growth in the steel and cement industries is expected to influence the refractories market positively, marking high market shares of the applications, although the growth rate for the glass segment is the highest.
The developments in various end-use industries are expected to create strong growth opportunities for the refractories market. Geographical expansions in new regions in the form of creating sales & distribution networks and establishing local manufacturing infrastructure could provide stability as well as growth opportunities for manufacturers in terms of revenue generation.
However, the global refractories market is expected to face some challenges. Factors such as high dependency of refractory manufacturers across the globe on raw material imports from China, and the subsequently volatile scenario of the Chinese refractory raw material producing industry could adversely impact the operations of refractory producers, thereby restricting revenue growth of the global refractories market.
Request Report Methodology@ https://www.persistencemarketresearch.com/methodology/3510
Segmentation Analysis
The refractories market is segmented on the basis of product form, such as monolithic & other unshaped, and bricks & other shapes. It is also segmented on the basis of refractory mineral used, such as bauxite, alumina, kaolin, magnesia, graphite & zircon. It is further segmented on the basis of end-use industry, such as steel, cement, nonferrous metals, glass and others.
Regional Market Projections
China is the leading market for refractories estimated to account for around 31.9% market share in terms of revenue in the global refractories market by the end of 2018. The Latin America and Middle East & Africa (LAMEA) region is anticipated to expand at a moderate CAGR in the refractories market through 2026. The China refractories market is projected to consistently hold significant market share in terms of value in the global refractories market during the assessment period, exhibiting a growth rate of 7.7%. Consumption of refractories in China is expected to increase to 2,043 tons by 2026 end.
For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/3510
Company Profiles
Read More Trending “PMR Exclusive Article”-
About us:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact us:
Persistence Market Research
305 Broadway, 7th Floor
New York City, NY 10007
United States
Ph.no. +1-646-568-7751
E-mail id- sales@persistencemarketresearch.com
The post Research Delivers Insight Into The Refractories Market Poised To Expand At 4.2% CAGR By 2018- 2026 appeared first on Lake Shore Gazette.
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