According to Data Bridge Market Research the market for refractories is growing due to the accelerating infrastructural advancement in developing nations and expanding recycling of refractory substances. Furthermore, huge germination pace beheld by the non-metallic minerals business and expanding requirement for high-grade refractories from the steel and iron industry is defining the growth of refractories market during the forecast period of 2017 to 2025.
During the period of market upsurge, some of the factors may act as restraints such as constraints on the application of refractories due to the expanding environmental impact and patent of China over crude material stocks.
Now the question is which are the other regions intuitive is targeting? Data Bridge Market Research has forecasted a large growth in the China which is the most extensive business ground for refractories in the Asia-Pacific (APAC) province and considered for a dominant share of the market in expressions of benefit. The burgeoning trade for steel and iron and glass-based goods from the automotive and construction industries is catering a good scope for the market growth both in terms of revenue and volume.
North America Refractories Market is expected to reach USD 6,226.43 million by 2025 from USD 4,781.99 million in 2017, at a CAGR of 3.5% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Key Drivers: North America Refractories Market
Some of the major factors driving the market for North America refractories market are increasing prevalence for non-metallic minerals industry, growing infrastructure in emerging countries and demand of refractories from iron & steel industry.
On the other hand, the environmental issues due to refractories are hampering the growth of the market.
Market Segmentation: North America Refractories Market
- The North America refractories market is segmented based on alkalinity into three notable segments; acidic & neutral refractories and basic refractories. Acidic & neutral refractories segment is sub segmented into fireclay, silica, alumina, chromite, zirconia and carbon. Basic refractories are further sub segmented into magnesite and dolomite. In 2018, acidic & neutral refractories market is likely to dominate market with 70.1% shares and is estimated to reach USD 4,431.97 million by 2025. It is growing at the highest CAGR of 3.7% in the forecast period.
- The North America refractories market is segmented based on form type into three notable segments; bricks, monolithic and others. Monolithic segment is sub segmented into castable, plastic, ramming, patching, coating, refractory mortars and insulating castables. In 2018, the bricks market is estimated to dominate market with 52.2% market share and will collect around USD 3,199.39 million by 2025, rising with a CAGR of 3.2%. However, the monolithic market is growing ath the highest CAGR of 3.9% and is expected to reach USD million 2,490.04 by 2025 from USD 1,851.60 million in 2017.
- The North America refractories market is segmented based on product type into two notable segments; clay and non-clay. Non-clay segment is sub segmented into silica bricks, magnesite bricks, chromite bricks, zirconia bricks and others. Clay segment is sub segmented into fire clay, high alumina and insulating. In 2018, the clay market is estimated to dominate market with 59.2% shares and will collect around USD 3,776.22 million by 2025, rising with the highest CAGR of 3.8%.
- The North America refractories market is segmented based on fusion temperature into three notable segments; Normal Refractory (1580-1780°C), High Refractory (1780-2000 °C) and Super Refractory (>2000 °C). In 2018, the normal refractory (1580-1780°C) market is estimated to dominate market with 46.8%shares and will collect around USD 3,020.49 million by 2025, rising with the highest CAGR of 4.0%.
- The North America refractories market is segmented based on end user into six notable segments; iron & steel, cement & lime, energy & chemicals, glass, non-ferrous metal and others. In 2018, the iron & steel market is estimated to dominate market with 72.7% shares and will collect around USD 4,612.08 million by 2025, rising with the highest CAGR of 3.7%.
Key Points: North America Refractories Market
Vesuvias is going to dominate the North America refractories market followed by RHI Magnesita and Saint Gobain S.A. Some of the major players operating in this market are Shinagawa Refractories Co., Ltd., and others.
- The form type segment is dominating the North America refractories screening market.
- The fusion temperature segment is expected to grow with the highest CAGR of 3.5% in the forecast period 2018 to 2025.
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