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Refractories Market worth $27.4 billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Sept. 18, 2020 /PRNewswire/ -- According to the new market research report "Refractories Market by Form (Shaped Refractories, Unshaped Refractories), Alkalinity (Acidic & Neutral. Basic), End-Use Industry (Iron & Steel, Power Generation, Non-Ferrous Metals, Cement, Glass), and Region - Global Forecast To 2025", published by MarketsandMarkets, the global Refractories Market size is expected to grow from USD 23.2 billion in 2020 to USD 27.4 billion by 2025, at a CAGR of 3.4% during the forecast period. Refractories are used across industries, such as Iron & Steel, Power generation, Non-Ferrous metals, Cement and Glass. In the Refractories Market, iron & steel is the key end-use industry owing to the wide applications of these refractories.

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Download PDF Download: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=222632393

Browse in-depth TOC on "Refractories Market"

253 - Market Data Tables
20 - Figures
240 - Pages

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/refractories-market-222632393.html

The iron & steel end-use industry is expected to register the highest CAGR in the global Refractories Market during the forecast period.

The iron & steel industry will continue to lead the Refractories Market. This was due to the increasing demand for infrastructure development and mounting demand for consumer goods such as automobiles. The increasing preference for high-cost, high-performance refractories is driven by the need to improve the quality of life, health & environment, and shift to clean, alternative sources of manufacturing. Furthermore, iron & steel end-use will also have the largest market share in the global Refractories Market as Refractories are widely used for linings and insulation of the high-temperature furnaces in this industry. As refractories are characterized by low weight, high temperature sustainability, and robustness, they are an ideal material for manufacturing precast shapes, refractory bricks, binders, and nozzles.

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APAC is expected to hold the largest market share in the global Refractories Market during the forecast period.

Asia Pacific accounted for the largest share of the Refractories Market in 2020. Factors such as the rapidly increasing consumption of refractories in the iron & steel, power generation cement, and glass industries in countries such as China, Japan, India, South Korea and Australia have led to an increased demand for Refractories in the Asia Pacific region.

Saint-Gobain (France), RHI Magnesita (Austria), Corning Incorporated (US), Morgan Advanced Materials (UK), and Shinagawa Refractories (Japan) are the leading refractories manufacturers, globally.

Browse Adjacent Markets: Ceramics and Glass Market Research Reports & Consulting

Related Report:

Thermal Ceramics Market by Type (Ceramic Fibers and Insulation Bricks), End-Use Industry(Mining & Metal Processing, Chemical & Petrochemical, Manufacturing, Power Generation),Temperature Range, and Region

https://www.marketsandmarkets.com/Market-Reports/thermal-ceramic-market-65223549.html

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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