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Shibuya-ku, Tokyo, Japan, Japan, Jan 24, 2022, 07:03 /Comserve / -- Andalusite Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The market for andalusite is expected to grow at a CAGR of over 4% during the forecast period. The major factor driving the growth of the market includes the high consumption of andalusite in the manufacturing of refractory products. On the other side, the unexpected flare-up of the COVID-19 is anticipated to thwart market development during the forecast timeline.
- The refractories application is expected to dominate the market for andalusite during the forecast timeframe.
- Asia-Pacific region is predicted to hold largest share in the andalusite market globally owing to the high demand for steel and iron consumption in the region.
Key Market Trends
Demand from Refractories Segment to Boost the Andalusite Market
- Andalusite is an alumino-silicate raw material utilized widely in the production of refractory linings. Refractory material ought to be truly and synthetically stable at high temperatures, impervious to thermal shocks. Andalusite has low porosity, stable volume, high virtue, and high thermal shock resistance, mking it suitable for refractory application.
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- Thus, refractories made with andalusite can be utilized viably under rough conditions. For the most part, andalusite shapes under low tension and high temperature and changes over to sillimanite or kyanite at the diverse temperature-pressure system.
- The increasing utilization of andalusite in refractories inferable from end-use industries like metallurgy is driving the market growth. Developing application of steel in automotive industry is also relied upon refractories. Andalusite-based products are very popular in Europe and Asia-Pcific region for the production of fired and unfired refractories.
- All the aforementioned factors are expected to drive the andalusite market during the forecast period.
Asia-Pacific to be the Largest Market for Andalusite
- Steel is a significant material utilized in shipbuilding and vehicle producing as well as building & construction. Thus, the increasing demand of andalusite from steel industry is expected to be a result of the development and framework improvement in these end-user industries.
- It is assessed that the total demand for overall steel products from the Asia-Pacific region was about 1,248.1 million metric tons.
- Moreover, with the development in the tourism sector in the region, there is a growing demand for hotels, shopping centers, better infrastructure, and arenas, subsequently, boosting the construction business in Asia-Pacific region.
- In 2020, Asia-Pacific is anticipated to lead the construction spending representing about 46% of the global with nations like China, India, Indonesia making a significant commitment to the business.
- Thus, the above-mentioned sectors are the major end-user industries of the product. Rising demand from various industries is expected to drive the market studied in the region during the forecast period.
Competitive Landscape
The andalusite market is concentrated. Some of the players in the market include Andalucita S.A., LKAB Minerals, Andalusite Resources, Resco Products, and RECURSOS LATINOS S.A.
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Demand from Refractories to Boost the Andalusite Market
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Sudden Outbreak of COVID-19
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Refractories
5.1.2 Foundry
5.1.3 Kiln Furniture
5.1.4 Others
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 France
5.2.3.4 Italy
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Andalucita S.A.
6.4.2 Imerys Refractory Minerals
6.4.3 Andalusite Resources
6.4.4 LKAB Minerals
6.4.5 Resco Products
6.4.6 RECURSOS LATINOS S.A
6.4.7 Picobello Andalucita
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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