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.
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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.
– 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.
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