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Global Clay Products And Refractories Market Report 2024, Forecast To 2033

25 Sep, 2024

The clay products and refractories market has exhibited strong growth in recent years, escalating from $156.63 billion in 2023 to $166.72 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.4%. This growth in the historical period is attributed to the demand from steel and metal industries, prevailing global manufacturing trends, mining and extraction activities, as well as infrastructure development and energy production requirements. Looking ahead, the market anticipates robust growth, projected to reach $206.41 billion by 2028, with a CAGR of 5.5%. The forthcoming expansion is underpinned by a focus on sustainable refractory materials, increased demand from renewable energy sectors, a surge in specialty refractories, advancements in manufacturing techniques, and the growing need for infrastructure resilience. Key trends in the forecast period encompass the digitization of manufacturing processes, technological advancements in refractory production, the emergence of advanced refractory materials, the demand for lightweight refractories, and the adoption of energy-efficient kiln technologies.

Major Driver In The Clay Products And Refractories Market

The growth trajectory of the clay product and refractory manufacturing market is bolstered by the anticipation of stable economic growth in numerous developed and developing nations. The International Monetary Fund (IMF) forecasts a global GDP growth rate of 3.4% in 2021, with developed economies expected to sustain stable growth throughout the forecast period. Furthermore, emerging markets are projected to outpace developed markets in terms of growth during this period. This stable economic outlook is poised to stimulate investments in end-user markets, consequently propelling the clay product and refractory manufacturing market forward. In 2023, the clay product and refractory manufacturing market stood at $X billion and is expected to reach $Y billion by 2024, further ascending to $Z billion by 2028.

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Clay Products And Refractories Market Competitive Landscape

Shinagawa Refractories Co. Ltd., Compagnie de Saint-Gobain S.A., LIXIL Group, Kyocera Corporation, The Siam Cement Group Public Company Limited, Corning Incorporated., Internacional De Cerámica S.A.B. De C.V., Mohawk Industries Inc., Saint-Gobain Ceramic Materials, Imerys S.A., RHI Magnesita N.V., Vesuvius plc, Krosaki Harima Corporation, Orient Refractories Limited, CoorsTek Inc., Puyang Refractories Group Co. Ltd., Morgan Advanced Materials plc, Chosun Refractories Co. Ltd., IFGL Refractories Ltd., Ceradyne Inc., HarbisonWalker International, Refratechnik Holding GmbH, P-D Refractories GmbH, Rath Group, Resco Products Inc., Magnesia Refractories Group, Calderys India Refractories Limited, Allied Mineral Products Inc., Refractarios Especiales S.A., Dalmia Refractories Limited

Key Clay Products And Refractories Market Trend

Major companies in the clay products and refractories market are developing new products such as 3D modeling applications to reach a larger customer base, increase sales, and boost revenue. These applications, also known as 3D modeling software or 3D design software, allow users to create, manipulate, and visualize three-dimensional objects or scenes. For instance, in August 2023, WASP, an Italy-based producer of 3D printers, launched Clay 3D printers, a new parametric 3D modeling application for printing clay. This product offers users free web access to experiment, export geodes, and test them on their 3D printers using Version 0.2, enhancing the client experience in 3D modeling through a simple yet effective interface.

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Clay Products And Refractories Market Segmentation

The clay products and refractories market covered in this report is segmented –
1) By Type: Pottery, Ceramics, and Plumbing Fixtures, Clay Building Material and Refractories
2) By Process: Grinding, Cutting, Mixing, Shaping, Honing
3) By Material: Quartz, Chamatte, Sand, Sawdust, Slag, Pulverized Coal
4) By End User Vertical: Construction, Automobiles, Steel Making, Cosmetics, Food Industry, Other End Use Verticals
By Geography:The regions covered in the clay products and refractories market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa. The Asia-Pacific was the largest region in the clay products and refractories market in 2023.

The Clay Products And Refractories Global Market Report 2024 furnishes information about the global clay products and refractories market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.