Global Refractories Industry
2020-09-09
Global Refractories Market to Reach $25.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Refractories estimated at US$23.1 Billion in the year 2020, is projected to reach a revised size of US$25.2 Billion by 2027, growing at aCAGR of 1.3% over the period 2020-2027. Bricks & Shapes, one of the segments analyzed in the report, is projected to record 0.9% CAGR and reach US$14 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Monolithics & Others segment is readjusted to a revised 1.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.3 Billion, While China is Forecast to Grow at 2.6% CAGR
The Refractories market in the U.S. is estimated at US$6.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.7 Billion by the year 2027 trailing a CAGR of 2.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0% and 0.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.3% CAGR.We bring years of research experience to this 18th edition of our report. The 336-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
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