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Refractories Market Growth Pursuant to Construction and Steel Recovery in 2021: Study

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NEW YORK, March 3, 2021 /PRNewswire/ Recessionary pressures in steel industry in 2019 and sudden deceleration in 2020 will weigh down refractories activity in 2021, however, firm construction sector recovery will limit downward trend finds the new edition of Refractories Market Study by consulting firm Fact.MR. The new edition of the study recalibrates previous estimates for COVID-19 impact, in tune with broader developments in end-use industries.
The downward trend in refractories mimics the developments in macro-industries. World ex-China BF output was down 13% in 9m-20, whereas EU, US, Japan down about 20%. India BF output was down 14%, with Korea and CIS down 6% and 2% y-o-y according to data from World Steel Association. ....

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Refractories Market Status, Regional Trends and Comprehensive Research Study | By Kenneth Research

Market Dynamics
The Global market for refractories, in terms of revenue is expected to be valued at $42 billion and in terms of volume, is expected to grow at a rate of about 3.3%, surpassing 45,000 KT by 2022.
Refractories find large application in heavy industries like automotive, aerospace, construction and industrial machinery. They are used to manage and control heat output and dissipation during power generation. Boilers that are used for extracting energy from coal are coated with refractories to provide resistance against thermal shock.
With the rapid transition towards power plants fired by natural gas, the demand for refractories that offer high levels of heat-resistant is expected to witness considerable growth in the years to come. ....

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