Refractories Market

Global Refractories Market: Overview

The products offered by the manufacturers and players functional within the global refractories market are used in various end use industry verticals, including power generation, cement, iron and steel, non-ferrous metal, and glass, among others. The products in the global refractories market can be classified based on their form into two major categories, i.e. unshaped refractories as well as shaped refractories. The novel coronavirus pandemic severely affected the global refractories market in the past couple of years, with a number of major suppliers and manufactures suspending their production owing to the low demand. Additionally, bottlenecks created in the disrupted supply chain also negatively impacted the landscape of the global refractories market in the last couple of years.

The research analysts offer the stakeholders in the relevant fields and industries with estimations and projections regarding the future performance of the global refractories market in 2021 to 2031 i.e. the forecast period. The research report methodically explains the present scenario of the global refractories market by providing market definition, scope, and a list of potential drivers as well as restraints. It throws light on crucial industry components that can stimulate high growth in the global refractories market over the forecast period. It also provides detailed account regarding the core demand dynamics and relevant consumer attitudes and behavior patterns in the global refractories market.

Global Refractories Market: Major Trends and Drivers

One of the most salient driving factors positively influencing the growth within the global refractories market is the rising demand from the global steel industry. Additionally, increasing demand from emerging economies rom South America as well as Asia Pacific regions is also expected to bolster the demand within the global refractories market in coming years. On the other hand, growing number of restrictions pertaining to the usage of refractories, due to rising environmental concerns may hinder the development in the global refractories market over the forecast period. However, rising construction activities as well as the growing infrastructural development in the developing economies around the world is anticipated to supplement the rising demand in the global refractories market over the forecast years.

Global Refractories Market: Key Players and Manufacturers

The business intelligent report on the global refractories market methodically assesses several key local as well as international manufacturers and vendors operational in the industry. It examines their performance, sales, product inventories, revenue, profit margins, pricing strategies, and financial overview over the forecast years. Some of the dominant and leading manufacturers and players functional in the global refractories market include Corning Incorporated, Shinagawa Refractories, Saint Gobain, RHI Magnesita, and Morgan Advanced Materials, among others.

Manufacturers and players functional in the global refractories market are adopting various development strategies, including acquisitions, increasing investments, and new product launches. For instance, Carbo San Luis, a player based in Buenos Aires in Argentina was acquired in June of 2020 by Morgan Advanced Materials. This move will help the Morgan Advanced Materials in expanding their network in Peru, Chile, and Argentina. Additionally, a new product called Kalpur was launched by the brand Foseco by Vesuvius in June of 2020. This product features direct pouring application on automatic high pressure green sand molding line.

Global Refractories Market: Regional Assessment

One of the leading regional industries in the global refractories market is anticipated to emerge as Asia Pacific over the forecast period. The regional refractories market of Asia Pacific amounted for a considerable share in the global refractories market in recent past. The strong positioning of the global refractories market in Asia Pacific can be attributed to fast growing consumption of refractories across various regional and local end users such as power generation plants, glass and cement manufacturing, and iron and steel industries, among others. Additionally, the rising demand from regional economies, such as Japan, South Korea, China, and India is also most likely to favor the expansion of the global refractories market in Asia Pacific in coming years.