The Latest Refractories Industry Statistics Explained
Global refractories market size was over USD 30 Billion in 2018.
The statistic “Global refractories market size was over USD 30 Billion in 2018” indicates the total value of the market for refractory materials worldwide in the year 2018 exceeded $30 billion. Refractories are materials that are heat-resistant and are used in high-temperature industrial processes such as steelmaking, cement production, and glass manufacturing. This statistic highlights the significant economic importance of refractories in various industries and suggests a substantial demand for these materials globally in 2018, likely driven by growth in industrial activities and infrastructure development.
Asia Pacific dominated the global refractories market by accounting for more than half of the total market share in 2018.
The statistic “Asia Pacific dominated the global refractories market by accounting for more than half of the total market share in 2018” indicates that Asia Pacific region had the largest market presence in the refractories industry compared to other regions worldwide in 2018. This suggests that a significant portion of refractories products were consumed or produced in countries within the Asia Pacific region, reflecting strong demand and production capabilities in this area. The dominance of Asia Pacific in the global refractories market may be influenced by factors such as rapid industrialization, infrastructural development, and increased construction activities in the region during that period. This statistic highlights the importance of the Asia Pacific region as a key player in the global refractories market landscape.
The global refractory market is expected to grow at a compound annual growth rate of 3.4% from 2021 to 2028.
This statistic indicates that the global refractory market is projected to experience a steady growth rate of 3.4% on an annual basis from the year 2021 to 2028. In essence, this forecast suggests that the demand for refractory materials, which are used in high-heat industrial processes like steelmaking and cement production, is expected to increase gradually over the specified time frame. The compound annual growth rate serves as a measure of the consistent year-over-year growth anticipated in the market, signaling potential opportunities for industry players and investors operating in the refractory sector to capitalize on this upward trend and plan their strategies accordingly.
China is the largest producer and exporter of refractories worldwide.
This statistic indicates that China holds the top position as the leading producer and exporter of refractories on a global scale, demonstrating its dominant presence in the refractories industry. Refractories are heat-resistant materials used in various applications, such as metallurgy, ceramics, and construction, where high temperatures are involved. China’s significant role in the production and export of refractories suggests that the country has a competitive advantage in terms of manufacturing capabilities, resources, and possibly lower production costs. This statistic highlights China’s pivotal position in the global refractories market and underscores its influence on the industry’s dynamics and trade flows.
59% of all refractories worldwide are used in the iron and steel industry.
This statistic means that the iron and steel industry is the largest consumer of refractories globally, accounting for 59% of all refractory material used. Refractories are heat-resistant materials essential for lining high-temperature industrial processes like furnaces and kilns, providing protection against extreme heat, corrosion, and abrasion. The high percentage indicates the significant reliance of the iron and steel industry on refractories, highlighting the importance of these materials in maintaining efficient and safe production processes within the sector. This statistic underscores the crucial role of refractories in facilitating the production of iron and steel, demonstrating their indispensable nature in enabling the functioning of this vital industry.
Unshaped refractory materials are predicted to hold 30% market share by 2027.
The statistic suggests that unshaped refractory materials are expected to capture 30% of the market by the year 2027. This prediction indicates that unshaped refractory materials, which are characterized by their ability to be molded and shaped at the site of use, are projected to gain significant traction and market acceptance within the refractory industry over the next few years. This could be attributed to factors such as their versatility, ease of application, and potential advantages in various industrial applications. As such, companies operating in the refractory materials sector may need to consider the growing demand for unshaped materials and adjust their strategies accordingly to capitalize on this market trend.
The refractory ceramics market size is projected to reach USD 6.43 billion by 2026.
The statistic indicates that the refractory ceramics market is expected to experience significant growth and reach a total value of USD 6.43 billion by the year 2026. This projection suggests an increasing demand for refractory ceramics, which are materials designed to withstand high temperatures and harsh conditions, making them essential components in various industries such as manufacturing, metallurgy, and energy production. The anticipated market size increase reflects potential expansions in these sectors and could be influenced by factors like technological advancements, infrastructure development, and global economic trends. Overall, the statistic highlights a positive outlook for the refractory ceramics industry in the coming years.
The demand for refractories from the steel industry is expected to rise at a CAGR of 3.5% from 2019 to 2025.
This statistic indicates that the demand for refractories, which are materials that can withstand high temperatures and are crucial for various processes in the steel industry, is projected to increase at a Compound Annual Growth Rate (CAGR) of 3.5% from 2019 to 2025. This forecast suggests a gradual but steady growth trend in the demand for refractories within the steel sector over the specified period. The CAGR metric is used to measure the average annual growth rate of a specific variable, in this case, the demand for refractories, providing a simplified way to understand the overall trend and trajectory of this market dynamic over time.
In 2020, North America used a total of 5.25 million tons of refractories.
The statistic “In 2020, North America used a total of 5.25 million tons of refractories” indicates the amount of refractory materials, such as bricks and ceramics, consumed in North America over the course of the year. Refractories are essential in high-temperature industrial processes like metal smelting, glassmaking, and cement production, as they can withstand extreme heat and prevent equipment damage. The substantial quantity of 5.25 million tons points to the significant industrial activity in North America that relies on refractories for operations. This statistic may reflect economic trends, technological advancements, and overall industrial output in the region, highlighting the importance of refractories in sustaining these operations.
Europe refractory market is expected to exceed USD 4.7 billion by 2025.
The statistic “Europe refractory market is expected to exceed USD 4.7 billion by 2025” indicates a projected growth in the market value of refractory materials in Europe over the next few years. Refractory materials are essential in industries such as steel, cement, and glass manufacturing, as they are able to withstand high temperatures and harsh conditions. The expected increase in market value suggests a growing demand for these materials, likely driven by expanding industrial activities and infrastructure developments in Europe. This statistic provides valuable insight for companies operating in the refractory industry, informing them of potential opportunities for growth and investment in the European market.
Latin America refractory market size is forecast to achieve 3% CAGR in future years.
This statistic indicates that the Latin America refractory market is expected to experience a Compound Annual Growth Rate (CAGR) of 3% in the coming years. This forecast suggests that the market for refractory materials in Latin America is projected to expand steadily at an average annual rate of 3%. This growth rate implies that there is expected to be a gradual increase in the demand for refractory products in the region over the forecast period. Factors such as infrastructure development, industrial expansion, and economic growth within Latin America may be driving this projected growth in the refractory market.
The Japanese refractories industry generated over 179 billion yen in 2019.
The statistic stating that the Japanese refractories industry generated over 179 billion yen in 2019 represents the total sales revenue generated by companies within the refractories sector in Japan for that specific year. Refractories are materials that can withstand high temperatures and are used in various industries such as steel, cement, and glass manufacturing. This statistic indicates the economic contribution of the refractories industry to the Japanese economy in terms of value generated from sales. It is a key metric for evaluating the performance and scale of the industry within the country, highlighting its significance and impact on the overall industrial landscape in Japan during that period.
In 2020, Brazil used a total of 1.45 million tons of refractories.
The statistic stating that Brazil used a total of 1.45 million tons of refractories in 2020 provides valuable insight into the scale of industrial activity in the country. Refractories are heat-resistant materials essential for various industries such as steel, cement, glass, and petrochemicals. The high quantity of refractories consumed highlights the significant level of production and manufacturing processes in Brazil during that year. This statistic can be used to assess the demand for materials in the industrial sector, understand the economic activity levels, and make comparisons with previous years or other countries’ industrial outputs.
The iron and steel industry in India consumes about 70-75% of the total refractories manufactured in India.
The statistic that the iron and steel industry in India consumes about 70-75% of the total refractories manufactured in the country suggests a significant dependency of the iron and steel sector on refractory materials for its operations. Refractories are materials that can withstand high temperatures and are essential for lining furnaces and other equipment used in metal production. The high consumption rate by the iron and steel industry indicates the critical role that refractories play in enabling the industry to carry out its production processes efficiently and effectively. This statistic highlights the close relationship between the refractory and iron and steel sectors in India, emphasizing the importance of the former in supporting the latter’s manufacturing activities.
In 2020, India accounted for 7% of the total global production of refractories.
In 2020, India contributed 7% to the total global production of refractories, which are heat-resistant materials used in various industries like steel, glass, and cement manufacturing. This statistic indicates that India plays a significant role in the global refractories market, highlighting its manufacturing capacity and importance in supplying these essential materials worldwide. The 7% share suggests that India’s production output is substantial compared to other countries, showcasing the country’s competitiveness in this industry and its potential for further growth and influence in the global market.
The German refractory industry produced around 4 million tons of refractory products in 2018.
The statistic that the German refractory industry produced around 4 million tons of refractory products in 2018 indicates the substantial scale and output of this sector within the country. Refractory products play a crucial role in high-temperature industrial processes like steel manufacturing, cement production, and chemical refining, making them essential for various industries. The production of such a large quantity of refractory materials suggests a strong demand for these products both domestically and potentially internationally, underscoring Germany’s expertise and competitiveness in this specialized industry. This statistic could also serve as a key indicator of economic activity and industrial growth within the country during the specified time period.
References
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