Dry Ramming Mass Market worth $3.2 billion by 2028 Globally, at a CAGR of 6.8%, says MarketsandMarkets™
Chicago, Dec. 18, 2023 (GLOBE NEWSWIRE) -- *The Global **Dry Ramming Mass Market** is projected to grow from USD 2.3 billion in 2023 to USD 3.2 billion by 2028, at a CAGR of 6.8% from 2023 to 2028, **as per the recent study by MarketsandMarkets™.* The growth of the dry ramming mass market is primarily driven by global expansion of the steel industry, enhanced cost and operational efficiency coupled with ongoing technological advancements in dry ramming mass, further contributing to its expansion. Dry ramming mass is a refractory material used in the lining of induction furnaces, ladles, and other high-temperature applications. It is a mix of refractory aggregates and binders.
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*Browse In-Depth TOC On "Dry Ramming Mass Market”*
*201 - Market Data Tables
41 - Figures
221 - Pages *
*List of Key Players in Dry Ramming Mass Market**:*
1. Saint-Gobain (France)
2. Dense Refractories Co., Ltd. (China)
3. Imperial World Trade Private Limited (India)
4. Vishva Vishal Refractory Limited (India)
5. Refcast Corporation (India)
6. Henan Xinmi Changxing Refractory Material Co., Ltd. (China)
7. Casco Specialty Products, Inc. (US)
8. Gita Refractories Private Limited (India)
9. Shenghe Refractories (China)
10. RHI Magnesita N.V. (Austria)
*Drivers, Restraints, Opportunities and Challenges in Dry Ramming Mass Market:*
1. *Drivers: *Increasing Demand for Refractory Materials in Various Industrial Applications.
2. *Restraints:* Initial investments are too high thus prohibiting the new entrants in the market.
3. *Opportunity: *Growing Awareness of the Environmental Benefits of Dry Ramming Mass.
4. *Challenges: *High upfront costs.
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*Key Findings of the Study:*
1. Steel by application is projected to be the largest, in terms of value, during the forecast period.
2. Alumina ramming mass by type is projected to be the largest, in terms of value, during the forecast period.
3. Asia Pacific is expected to be the fastest growing market for dry ramming mass during the forecast period, in terms of value.
In the steel industry, dry ramming mass plays a crucial role. It finds diverse applications in various steelmaking processes, including lining ladles for the transportation and pouring of molten steel, constructing covers for ladles to retain heat during transportation, lining tundishes for the temporary holding and distribution of molten metal during continuous casting, and providing refractory lining in reheat furnaces used to bring steel ingots or slabs to desired temperatures. Additionally, dry ramming mass is utilized in the lining of steel crucibles for smaller-scale alloy production, in pouring channels and troughs to guide molten steel from furnaces to molds, ensuring a controlled and smooth flow during casting processes. Furthermore, it contributes to the thermal stability and wear resistance of mixer furnaces employed in blending different grades of steel or alloys. The versatility of dry ramming mass makes it an integral component in enhancing the efficiency, durability, and quality of various steel manufacturing applications.
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Based on application, the dry ramming mass market has been segmented into foundries, steel, electric arc furnaces, blast furnaces, non-steel, and others. Steel accounted for the largest share, in terms of value, of the global market in 2023.
In steelmaking, ladles are used to transport and pour molten steel. Dry ramming mass is often employed to line the ladles, providing thermal insulation and resistance to the corrosive effects of molten steel and slag. Dry ramming mass can be used to construct covers for steel ladles. These covers help retain heat during the transportation of molten steel, preventing excessive heat loss. Tundishes are vessels that temporarily hold and distribute molten metal during the continuous casting process. Dry ramming mass can be used to line tundishes, providing a refractory barrier that withstands high temperatures and ensures the quality of the cast steel.
Based on function, the dry ramming mass market has been segmented into lining, repairing, and patching among others. Lining accounted for the largest share, in terms of value, of the global market in 2023.
Most refractory materials are initially used for lining purposes during the construction and installation of furnaces, kilns, and other industrial equipment. When new facilities are built, they require extensive refractory linings to withstand high temperatures, corrosive environments, and mechanical stresses. Furnaces and industrial equipment have relatively long lifecycles. Once a refractory lining is installed, it can last for an extended period before significant repairs or replacements are needed. This results in a continuous demand for lining materials. Refractory linings play a critical role in maintaining the integrity of industrial processes. They protect against high temperatures, chemical reactions, and mechanical wear.
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