The demand in the usage of customized insulating bricks is predicted to grow by 5.6% CAGR during the forecast period and the growth per market capital is expected to reach it peak by 2026.
The demand drivers for customized insulating bricks.
The customized insulating bricks are used globally in the construction of refractories and the global market analysis for refractories was estimated to be 23 billion USD at the year 2020.
Also, the iron and steel industry share an estimate amount of 60% market growth in the demand for customized insulating bricks used for manufacturing of refractories.
Therefore, the growth in the steel production, glass ceramic and power generation demand are the driving factors for the growth of the market at the predicted period.
The growth in the metal production and hot working industries are causing the demand for refractories construction worldwide, the government ensures the development of refractories are done to maintain a safe environment in the industry which leads to the reasons why authorities recommends customized insulating bricks for construction of refractories.
The recommendations was made because the customized insulating bricks provides proper insulation to the refractories and also provides resistance to fuel ash oil corrosion than any other refractory materials.
Improper refractory materials will definitely leads to loss of money and leading to double cost for repairing the refractory.
The demand in the customized insulating bricks has increased in the market due to the rapid growth of the following industries such as chemical, petrochemical, steel, aluminum, cement and ceramics industry.
Factors that cause restraints in the growth of the customized insulating bricks.
The increase in the usage of the refractory in the industry leads to the demand for automated usage rather than manual method or direct contact of hazardous effluent with workers.
Industrial Automation ensures that no-one comes in contact with the effluent released from the refractory thereby ensuring the safety of the personnel or workers without the need for high insulating materials.
This industrial automation will hinder the growth of customized insulating bricks in the market as predicted.
Nevertheless, the demand for oil industry is increasing the rate at which oil exploration and crude oil processing activities grow, which is then creating an opportunity for the growth of customized insulating bricks again.
COVID-19 impact on the growth of the customized insulating bricks.
The pandemic period in the world leads to an increase in the prices of raw material, causes a reduction in the production, lockdown in several countries reduces the growth of the customized insulating bricks in the market.
Segmentation of customized insulating bricks
Segmentation by Applications
• Steel Industry
• Ceramic Industry
• Power Generation
• Petrochemical Industry
• Other Application
Segmentation by Product type
• 91% Silica
• 93% Silica
• Other Product type
Segmentation by Region
• Asia Pacific
• North America
• Europe
• South America
• Middle East Africa
Partner with us for standard insulating bricks
As a leading brand in the design and manufacturer of various types of standard insulating bricks and other building materials, we offer the best and excellent products that will give your desired results.
In case you need a credible manufacturer and distributor of cables and connectors, kindly click here to see our various designs, we give you the quality and best offer.
