Refractories Market Worth 36.17 Billion USD by 2022 - Seite 2

Iron & steel industry: The largest segment of the refractories market, by end-use industry 

Iron & steel industry was the largest segment of the global refractories market, by end-use industry in 2016. This large share is attributed to the increasing technological advancements and the need for specialized refractory materials and products. Additionally, increasing infrastructure and construction activities in developing economies, such as India, Brazil, Mexico, Russia, and others are contributing significantly to steel consumption, and consequently leading to an increase in the usage of refractories.

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Asia-Pacific: The largest refractories market, by region 

The Asia-Pacific region was the largest region for Refractories Market, in terms of value and volume, in 2016. The large market size of Asia-Pacific is due to the shifting of manufacturing facilities by large market players from mature markets such as Europe and North America to Asia-Pacific and Middle East & Africa. The large players prefer investing in these regions because they offer a wide range of market penetration opportunities due to the presence of mineral deposits such as magnesite, silica, and alumina, which are the key raw materials used to manufacture refractories, and the abundant availability of workforce and consumers.

Refractories manufacturers, such as RHI AG (Austria), Saint-Gobain S.A. (France), Vesuvius Plc. (U.K.), Morgan Advanced Materials Plc. (U.K.), Shinagawa Refractories Co., Ltd. (Japan), Corning Incorporated (U.S.), Coorstek Incorporated (U.S.), Magnesita Refratarios S.A. (Brazil), Krosaki Harima Corporation (Japan), and HarbisonWalker International Inc. (U.S.) are covered in the report.

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