High usage of andalusite in refractories is the primary driver of the global andalusite market, says a market analysis by RationalStat

2023-03-10 10:07:02 UTC | Chemicals & Advanced Materials
High usage of andalusite in refractories is the primary driver of the global andalusite market, says a market analysis by RationalStat

The report titled "Global Andalusite Market Analysis and Forecast, 2019-2028" analyzes the market in both regional and global terms by type, application, and region. A thorough report offers a detailed historical and projected market size along with a comprehensive market trend analysis. The market share analysis, innovations, and products offered by leading companies, a summary of the competition, strategic imperatives, the most important customers, possible growth areas, and competitive analysis of the key players are analyzed as part of the global andalusite market research.

Market Overview and Dynamics: The expanding construction industry coupled with the explosive steel industry is driving the demand for andalusite globally.

The global market for andalusite is expected to experience moderate growth of around 5.5% over the next few years. Refractories are extensively used in blast furnaces during the manufacturing of steel because of their distinctive properties such as their ability to withstand high temperatures and thermal conductivity. Furthermore, the extraordinary properties of andalusite like low volume stability, porosity, creep and chemical resistance, and high thermal shock along with the high level of purity makes it suitable for use in the manufacturing of refractories.

High utilization of andalusite in refractories, growing demand, and expansion of the construction sector, and the increasing demand for andalusite in the iron and steel industry are just a few of the major factors that are expected to drive the demand for andalusite all across the globe. Furthermore, the rising vehicle production is predicted to boost the demand for items like glass, steel, aluminum, copper, and plastics, which, in turn, is anticipated to boost the need for refractories and so the increasing demand for andalusite.

Asia Pacific is dominating the global andalusite market in 2021 and is predicted to maintain the same pattern over the period of 2022-2028. Steel is an important material used in vehicle production and shipbuilding in addition to construction and building. Additionally, China is the major producer of steel, and also the biggest importer of andalusite, second only to Germany. Furthermore, the market in Europe is expected to grow significantly due to the increasing construction industry where the use of refractories is used to make cement.

Segmental Analysis

Competition Analysis

The global andalusite market is fragmented in nature with the presence of various players in the market. These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global andalusite market.

Some of the prominent players operating in the global andalusite market include Andalucita S.A, LKAB Minerals, Andalusite Resources, Resco Products, Recursos Latinos S.A, Rhino Minerals Pty Ltd, Samrec Pty Ltd, Damrec, Picobello Andalucita, Imerys Minerals Refractory Glomel, and Latin Resources Ltd among others.

RationalStat has segmented the global andalusite market on the basis of type, application, and region.

For more information about this report: https://store.rationalstat.com/store/global-andalusite-market/

About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.



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