Global Silica Insulation Bricks Market holds the potential to reach US$ xx billion by 2027, driven by multiple factors, including demand and supply-side drivers.
• Demand Side Drivers:
• The Silica Insulation Bricks are used in the construction of refractories, the global refractories market is estimated to be at US$ 23.XX Bn in the year 2020. The region-wise growth of the market is covered in detail in the report.
• The iron and steel industry accounts for about 60% of the refractory market share in 2019 in terms of value. The other segment growth and market share are analyzed and covered in the report.
• Utah Refractories Corp., is the sole domestic producer of silica insulation bricks in the United States. The consumption of silica insulation bricks totaled US$XX Mn in 2019. The shipments of silica insulated bricks are totaled US$XX Mn in 2019. The industrial impact on the region in
terms of value and volume are covered separately.
• Supply Side Drivers:
• The growth of OEM, raw material supplier and regional market, import, export volume analysis shows that China has a major impact on domestic silica insulation bricks market, the report covers the micro factors affecting the supply side driver and effect on countries’ economy is analyzed.
• The (antidumping duty) AD investigations found that China sold silica bricks and shapes in the United States at dumping margins ranging from 84.89% to 91.16%. To protect the domestic industry in the fair price of the product will acquire by applying anti-dumping duty.
Drivers: The growth in steel production, glass & ceramic, Power generation demand arethe driving factor expected to propel the market at xx% CAGR in the forecast period.
Strict guidelines are issued by governments and agencies all over the world for the use of insulation bricks in the construction of refractories and furnace.
The growth in metal production and hot working driving the demand for refractories construction. The development in refractories leading to concern for authorities to maintain a safe environment in the industry. The authorities recommend using silica bricks to provide proper insulation to the refractories. The silica insulation bricks provide resistance to fuel oil ash corrosion better than other insulation materials. Incorrect choice of refractory material will lead to millions of dollars repairs in a large installation. The silica insulation bricks are gaining market as the demand in industries like chemical,petrochemical, steel, aluminum, copper, glass, cement, ceramics, and others are propelling the silica insulating bricks market.
Restraints: Increasing automation in hazardous areas like metal processing and manufacturing industries.
The increasing incidents in the industries are leading to the use of automation in the industrial process, the increasing use of automation reduces the manual intervention or direct person contact with the hazardous area. Industrial automation ensures the non-person contact increases safety without the need for high insulating material, which will hinder the growth of the silica insulating brick market in the forecast period. Industrial automation is growing at xx% CAGR in the forecast period. The other restraints in the market growth are covered in report.
Opportunities: The demand for oil pushed up by about 1.2 percent per year.
The oil industry demand is growing at xx% CAGR in the forecast period. The increasing demand is leading to grow the oil exploration and crude oil processing activities, which is creating new opportunities in silica insulating bricks application in oil processing. Design and development of insulating material will drive the market.
Covid-19 Impact on the Silica Insulation Bricks market:
• The pandemic condition in the world created high volatility in raw material prices, the reduction in production and lockdown in several areas heavily affected to the growth of market.
• Slight decline in sales has been analyzed due to raw material driven price on the back of the global pandemic crisis the impact on regional volume is covered in report.
• Drop-in sales results partly from significantly irregular raw material prices, further decline in steel manufacturing demand.The regional covid 19 impact is covered in report.
Silica Insulation Bricks market
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Global Silica Insulation Bricks Market Segment Analysis
By Product type, the 93% silica is expected to grow at xx% CAGR in the forecast period.
The 93% silica is used for applications that require insulation and a superior radiant barrier. Silica brick has 93% of silica and the remaining 7% includes tridymite, cristobalite, residual quartz, and glass phases. It is used in the area where acid slag corrosion resistance and high-temperature strength are needed. The 93% silica bricks do not deform in long-term use at high temperatures. These are the factors driving the growth of the silica insulation bricks market in the forecast period.
By application, the steel industry is expected to dominate the market in the forecast period.
The increasing number of steel industries are driving the growth silica insulation bricks market in the forecast period. The estimated growth of steel industries will be over xx Mn in 2027 from US$ xx Mn in 2020. The global demand for finished steel was about XXXX million tonnes in 2019. The demand for refractories is driving the growth of the market. The other applications are covered with their driving factors in the report.
Global Silica Insulation Bricks Market Regional Insights:
Silica Insulation Bricks market1
The Asia Pacific is expected to be the leading market in the forecasted period.
The Asia Pacific is expected to grow at xx% CAGR in the forecast period. Increasing steel and aluminum manufacturing industries are driving the growth of the silica insulation bricks market. The steel and aluminum industries are expected to grow at xx% and xx% CAGR in the forecast period.
Industrial development in the developing region like India and China are expected to fuel the market growth in the forecast period. India is the second-largest producer of aluminum in the globe and is expected to double its production capacity in 2021, JSW Steel, the second-largest producer of steel in the world. Jindal Steel Ltd sold 625 thousand tonnes of steel in the Indian market. The report covers the analysis of the Asia Pacific market country-wise manufacturing, import, export, and supply chain conditions.
North America market is expected to grow at significant growth rate xx% over the forecasted period.
North America market is growing at xx% CAGR in the forecast period and is expected to reach xx Mn by the end of 2027. The stringent industrial safety norms and domestic industry growth policies are driving the market. Themajority of silica imports bricks in the U.S. comes from China. The US market is highly lucrative for the key manufacturers and several OEMs are providing services in the market. The report covers the manufacturers operating on the market along with the import and export condition of North America provided country wise in the report.
The objective of the report is to provide the following:
• To provide market size, forecast data for global, regional and market segments
• To provide strategic developments, benchmarking and market share analysis of 10 players operating in the global Silica Insulation Bricks market
• Detailed insights on drivers, restraints, opportunities, and challenges in the Silica Insulation Bricks industry
• Impact of technological advancements in the Silica Insulation Bricks market and its future outlook
• High level insights on the regional and country level analysis along with regional attractiveness
• Market intelligence on the growth trends and opportunity analysis in the Silica Insulation Bricks market at the segmental and overall market levels
• In-depth coverage of SWOT, PORTER, PEST and VALUE & SUPPLY CHAIN
Scope of the Global Silica Insulation Bricks Market: Inquire before buying
Global Silica Insulation Bricks Market, By Applications
• Steel Industry
• Ceramic Industry
• Power Generation
• Petrochemical Industry
• Other Application
Global Silica Insulation Bricks Market, By Product type
• 91% Silica
• 93% Silica
• Other Product type
Global Silica Insulation Bricks Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in Global Silica Insulation Bricks Market
• P-D Refractories
• LONTTO GROUP
• Reliable Refractories
• HENAN CUNSE REFRACTORY
• BNZ Materials
• Zhengzhou Rongsheng Kiln Refractory Materials
• Shree Tirupati Refractories & Minerals
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.