Major companies in the clay products and refractories market include Dal-Tile; Gerber Plumbing Fixtures; RHI AG; Vesuvius and Kyocera. The global clay products and refractories market is expected to grow from $144.
New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Clay Products And Refractories Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009799/?utm_source=GNW
48 billion in 2020 to $157.85 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $196.72 billion in 2025 at a CAGR of 6%.
The clay products and refractories market consists of sales of clay and refractory products by entities (organizations, sole traders and partnerships) engaged in shaping, molding, glazing, and firing pottery, ceramics, plumbing fixtures, and electrical supplies made entirely or partly of clay or other ceramic materials, refractories, non-clay refractories, ceramic tiles, bricks, and other structural clay building materials. Clay is procured from mining or quarrying companies, loaded by truck or front-end loader into a primary crusher, transferred to grinding mills, and further processed using grinding, mixing, cutting, shaping, and honing. Refractory materials are heated and then formed into bricks or other shapes for use in industrial applications. Equipment and tools used in clay product manufacturing include crushers, grinders, wire cutters, high-pressure cylinders, rollers, dryers, and burners. Clay products find applications in the construction, steel making, cosmetics, and food industry. The clay products and refractories market is segmented into pottery, ceramics, and plumbing fixtures; and clay building material and refractories.
Asia Pacific was the largest region in the global clay products and refractories market, accounting for 46% of the market in 2020. Western Europe was the second largest region accounting for 29% of the global clay products and refractories market. Africa was the smallest region in the global clay products and refractories market.
Many clay product and refractory manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating rise in automation and robotics technology adoption to improve productivity and reduce production costs.
Major economies globally had a positive growth, due to which the interest rates are expected to gradually increase in the period 2018-2022. This will decrease the flow of cheap money that has been available for investment, making it difficult for companies to raise funds. In December 2017, the US Federal Reserve increased the interest rates by a quarter percentage point to a target range of 1.25% to 1.5%. The US Federal Reserve is expected to further increase the interest rates in 2018. China’s Central Bank also raised the interest rates to limit the flow of capital out of the country. These factors are expected to have a negative impact on the clay product and refractory manufacturing market.
The growth of the clay product and refractory manufacturing market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in end user markets, thereby driving the clay product and refractory manufacturing market during forecast period.
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