According to the business intelligence report titled ‘Global Steel Refractory Materials Market - Analysis By Product Type, Manufacturing Process, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global steel refractory materials market was worth USD 22110.32 million in 2019 and is expected to amass substantial returns during 2020-2025.
 

Lucrative growth of global steel refractory materials market can largely be attributed to increasing investments in commercial and residential building projects, in consort with growing urbanization and industrialization, predominantly in India and China.
 

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Escalating demand for steel from various end-user applications including furniture, microwave ovens, dishwashers, cutlery, and washing machines, and overhaul of railway infrastructure are positively swaying global steel refractory materials market dynamics.
 

The research literature on global steel refractory materials industry imparts a clear understanding of the various growth propellers, restraints, limitations, and other expansion trends prevailing in this business space. It also includes an comparative assessment based on current developments as well as past records so as to derive the annual growth rate of this industry during the stipulated period of 2020-2025.
 

With that being said, the report also expounds on the various market segmentations including product landscape, manufacturing process, and geographic scope.
 

Based on product landscape, the industry vertical is split into monolithic, bricks & shapes, and others. With regards to manufacturing process, the market is categorized into electric arc furnace, and blast oxygen furnace among others.
 

From a regional frame of reference, steel refractory materials market in Asia-Pacific is predicted to grow tremendously during the analysis timeframe. Increasing production of steel and iron in India and Japan, prevalence of manufacturing facilities, abundance of raw materials, and affordable labor costs are fostering the regional market expansion.
 

RHI Magnesita N.V., Calderys, Morgan Advanced Materials, CoorsTek Inc., Orient Refractories Ltd., Shinagawa Refractories Co. Ltd., Vesuvius plc, Magnezit Group Ltd., IFGL Refractories Ltd., and Refratechnik Holding GmbH are the leading firms which influence worldwide steel refractory materials market trends.