Refractories Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis
The refractories market was estimated at USD 26.05 billion in 2022 and is likely to grow at a CAGR of 3.73% during 2023-2028 to reach USD 32.62 billion in 2028.
Market Drivers:
The refractories market is driven by a host of factors, some of which are noted below:
Growing product demand from aerospace, automotive, electrical, glass, and cement industries, growth in the iron and steel industry,
Rising demand for more energy-efficient techniques in steel making.
Increasing steel production: Steel is one of the primary end-users of refractories. The growth of the steel industry, especially in developing countries.