(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "Dry Ramming Mass Market by Type (Alumina Ramming Mass, Silica Ramming Mass, Magnesia Based Ramming Mass), Application (Foundries, Steel, Electric Arc Furnace, Blast Furnace, Non-Steel), Function, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets's offering.
The Dry ramming mass Market is projected to reach USD 3.2 billion by 2028, at a CAGR of 6.8% from USD 2.3 billion in 2023
This report segments the market for the dry ramming mass market on the basis of type, application, function and region. It provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for the thermoplastic polyolefin material market.
The global dry ramming mass market is experiencing rapid growth due to several key factors. One of the main drivers of growth is the increasing demand for refractory materials in various industrial applications. Refractory materials are essential for lining furnaces, ladles, and other industrial vessels that operate at high temperatures. Dry ramming mass is a pre-mixed refractory material that is gaining popularity due to its ease of application, reduced curing time, and improved performance compared to traditional refractory lining methods.
Another factor driving the growth of the dry ramming mass market is the growing demand for energy-efficient refractory materials. As industries strive to reduce their energy consumption and associated costs, they are increasingly turning to dry ramming mass, which offers superior thermal conductivity and insulation properties. Additionally, the emerging applications of dry ramming mass in non-traditional industries, such as cement, petrochemical, and glass manufacturing, are further expanding the market's scope.
The key players in this market are Saint-Gobain (France), Dense Refractories Co., Ltd. (China), Imperial World Trade Private Limited (India), Vishva Vishal Refractory Limited (India), Refcast Corporation (India), Henan Xinmi Changxing Refractory Material Co., Ltd. (China), Casco Specialty Products, Inc.(US), Gita Refractories Private Limited (India), Shenghe Refractories (China), RHI Magnesita N.V. (Austria) etc. Research Coverage
Repairing, by function, accounts for the second-largest market share in 2022.
Repairing and maintenance of furnaces, ladles, and other industrial vessels is the second-largest function for the dry ramming mass market globally due to its versatility, durability, and ability to prevent costly downtime. Dry ramming mass's ease of application and reduced curing time make it a cost-effective and efficient solution for repairing refractory linings, further contributing to its popularity in this market.
Magnesia based ramming mass is expected to be the fastest growing at CAGR 6.9% for the dry ramming mass market during the forecast period, in terms of value.
Magnesia-based ramming mass is the fastest-growing segment of the dry ramming mass market globally due to its superior properties and performance compared to traditional ramming mass materials. Magnesia-based ramming mass is characterized by its high refractoriness, excellent chemical resistance, and resistance to slag penetration. These properties make it well-suited for use in high-temperature applications and in environments where chemical attack is a concern. In addition, magnesia-based ramming mass is relatively easy to apply and has a shorter curing time compared to traditional ramming mass materials.
Based on region, North America was the second-largest market for the dry ramming mass market in 2022.
North America is the second-largest market for dry ramming mass materials after Asia-Pacific due to its rapid industrial growth, particularly in the steel industry.
The region's strong presence of global and regional players, coupled with its growing adoption of energy-efficient refractory materials and aging industrial infrastructure, is further driving the demand for dry ramming mass. As North American industries continue to embrace sustainability and environmental consciousness, dry ramming mass is poised to play an increasingly important role in the region's industrial landscape.
The report provides insights on the following pointers:
Analysis of key drivers: Global expansion of the steel industry, enhanced cost and operational efficiency along with continuous technological advancements. Market Penetration: Comprehensive information on the dry ramming mass market offered by top players in the global dry ramming mass market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the dry ramming mass market. Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for the dry ramming mass market across regions. Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global dry ramming mass market. Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the dry ramming mass market.
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