Refractories Market, By Product Type (Non-clay Refractory, Clay Refractory), By End-User Industry (Iron and Steel, Energy and Chemicals, Nonferrous Metals, Cement, Ceramics, Glass, and Other End-user Industries), By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Those materials that have a high resistance to pressure and decomposition due to heat are called refractories. They are materials that are used in the field of materials science. Various types of refractories are used for various purposes. For instance, the iron and steel industry requires refractories for their various industrial processes. Moreover, the power generation industry and the aluminum industry also require refractories. Besides these industries, the refractory industry is also used for construction purposes. Refractories are used to protect metal and other materials from chemical attack and thermal shock. The most common materials used in the production of refractories are alumina and oxides of aluminum. Other examples include zirconia, magnesium oxide, and chrome-magnesia. Refractories are also used as processing aids in various industries.
Market Dynamics:
Increasing demand for steel, cement and glass is driving the growth of the global refractories market. Besides, the growing need for improving health and environment is driving the demand for high performance refractories. The market has witnessed high growth in the other end-use industries as well, which has balanced the overall consumption of the market.
However, the market has been affected by the outbreak of COVID-19. This outbreak was a major cause for the temporary suspension of production in the refractory industry. Moreover, increasing environmental concerns restricting use of refractories is also expected to hamper the market growth.
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