Kenneth Research, in its repository of market research reports, has recently added a report on Refractories Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Refractories Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Refractories Market products.
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A report on Refractories Market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021.
On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
In its database of market research reports, Kenneth Research has recently added a report on ‘Refractories Market’ that focuses on the key strategies developed by the key players operating in the market, along the growth factors, opportunities and the challenges associated with the growth of the market for the projected period of 2021 2025. The report also provides a full assessment of the micro- and macro-environmental factors by utilizing tools such as PESTEL and Porter’s five forces analysis to analyze the market growth. Additionally, the report consists of the numerical data in terms of value and volume, and also includes detailed analysis on the impact of COVID-19 on the Refractories Market during the forecast period.
Refractories can be defined as ceramic materials developed to tolerate high temperatures faced in contemporary manufacturing. Refractories are considered to be more heat-resistant as compared to metals, they are used to line the hot surfaces found inside many industrial processes. Refractory materials are used in furnaces, kilns, incinerators, and reactors.
Global Refractories Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Rising demands for high end refractories and growing and growing infrastructural development is driving the global refractories market. The market could hamper its growth due to rising restrictions on the use of refractories by the government authorities.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Refractories Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Refractories Market Competitive Landscape
The “Refractories Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as RHI Magnesita, Vesuvius, Krosaki Harima, Shinagawa Refractories, Saint-Gobain, Corning Incorporated and Morgan Advanced Materials. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Refractories Market, By Form
Global Refractories Market, By End-Use Industry
Iron & Steel
Global Refractories Market Geographic Scope
• North America
o Rest of Europe
o Rest of Asia Pacific
Rest of the World
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Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
Provides insight into the market through Value Chain
Market dynamics scenario, along with growth opportunities of the market in the years to come
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