Study On Industrial Refractory Materials Market

Date6/30/2020 9:29:19 AM

The industrial refractory materials market is expected to surge with a CAGR of 3.45% to achieve a market size of US$27.593 billion by 2025, from US$22.507 billion
in 2019.The market is expected to propel in the forecast period owing to the immense utilization of refractory materials in various end-use industries. The major
industries include steel and foundry industry, glass, and cement among others. The growing iron and steel industry is driving the growth of the global industrial
refractory materials market in the forecast period. Refractory materials are resistant to heat and are used in providing linings for high-temperature furnace,
reactors, and other processing units. The increasing construction activities worldwide along with the growing urbanization is further providing an impetus in
fueling the demand for refractory materials driving the market growth.

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