Global Clay Products and Refractories Market Displays Robust Growth, Reaching $158.08 Billion in 2023

The Business Research Company's Clay Products and Refractories Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, December 5, 2023 /EINPresswire.com/ -- The global clay products and refractories market has demonstrated robust growth, surging from $146.68 billion in 2022 to $158.08 billion in 2023, marking a notable compound annual growth rate (CAGR) of 7.8%. the market is anticipated to continue its upward trajectory, with a projected size of $207.81 billion by 2027, at a CAGR of 7.1%.

Driving Factors: Stable Economic Growth and Investments
The growth of the clay product and refractory manufacturing market is underpinned by the forecasted stable economic growth in various developed and developing countries. Projections from the International Monetary Fund (IMF) indicate a global GDP growth of 3.3% in 2020 and 3.4% in 2021. Developed economies are poised for stable growth during the forecast period, with emerging markets expected to grow slightly faster than their developed counterparts. This stability in economic growth is set to drive investments in end-user markets, thereby fostering the expansion of the clay product and refractory manufacturing market.

Key Market Players Shaping the Landscape
Major companies contributing to the clay products and refractories market include LIXIL Group, Internacional De Cerámica, S.A.B. De C.V, Kyocera Corporation, Compagnie de Saint-Gobain S.A., Mohawk Industries, Inc., RHI Magnesita N.V, The Siam Cement Group Public Company Limited, Imerys S.A, Vesuvius plc, and Corning Incorporated. These key players play a crucial role in influencing market dynamics and steering the industry's growth trajectory.

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Technological Adoption: Robotics and Automation
Clay product and refractory manufacturing companies are increasingly leveraging robotics and automation to enhance plant efficiency and productivity. The deployment of sensors in various machines provides valuable data for improving efficiencies and minimizing potential breakdowns. According to a report by Boston Consulting Group (BCG), an estimated 1.2 million industrial robots are set to be deployed by 2025, indicating a rising trend in the adoption of automation and robotics technology to boost productivity and reduce production costs.

Regional Insights: Asia-Pacific Leads Market Share
In 2022, the Asia-Pacific region emerged as the largest market share holder in the clay products and refractories market. Following closely, Western Europe secured the second-largest position. The regions covered in the global clay products and refractories market analysis report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Market Segmentation: Varied Types and End-User Verticals

The global clay products and refractories market is segmented based on:

1. Type:
• Pottery, Ceramics, and Plumbing Fixtures
• Clay Building Material and Refractories
2. Process:
• Grinding
• Cutting
• Mixing
• Shaping
• Honing
3. Material:
• Quartz
• Chamotte
• Sand
• Sawdust
• Slag
• Pulverized Coal
4. End User Vertical:
• Construction
• Automobiles
• Steel Making
• Cosmetics
• Food Industry
• Other End-Use Verticals

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Clay Products And Refractories Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Clay Products And Refractories Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on clay products and refractories market size, clay products and refractories market drivers and trends, clay products and refractories market major players, competitors' revenues, market positioning, and market growth across geographies. The clay products and refractories market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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