Refractories Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Market Overview

In 2023, the refractories industry generated USD 25.1 billion in revenue, and it is estimated to experience a CAGR of 5.0% over the projection period, attaining USD 35.3 billion by 2030. The reason is that the demand for these kinds of materials is forwarded from different industries and also the technological advancement is creating as well the energy efficiency concerns.

Refractories are insensitive to heat, chemicals, and pressures, and, what is more, they keep their shape and strength at high temperatures. Their faculty to withstand high temperatures sets them apart as one of the key components in processes that center around high temperatures.

A vital consumer of these steel scraps is the steel-making sector via the use of them in electric arc furnaces, tundishes, steel ladles, and blast furnaces. Refractories are indispensable for obtaining the required level of temperatures (up to 1,500 °C or higher) for melting the iron ore to its molten state.

Cement plants require the use of rotary kilns which involve sintering limestone at temperatures as high as 1,450°C. The raw silica sand is heated to a temperature of 1700 Celsius degrees or higher in the process of making glass.

The primary factor behind refractory growth is the global increase in industrial output. Europe's diverse and fast-growing industrial sector, which may include construction, manufacturing of heavy equipment, aircraft manufacture, and automotive factories, is increasingly utilizing refractories in large quantities.

Key Insights

In 2023, the clay category held the largest industry share, of more than 50%, credited to its robustness, affordability, and capacity to bear rapid thermal cycling.

Industries functioning in extreme temps, including cement, non-ferrous metal, glass, and steel & iron, are propelling the growing demand for clay.

Non-clay materials are estimated to witness a higher CAGR of 5.3% from 2024 to 2030 because of their excellent resistance to high temps and versatility across different applications.

In 2023, the acidic & neutral category had a substantial industry share of around 55%, driven by improvements in manufacturing technologies that have advanced the performance and cost-effectiveness of these refractories.

Basic refractories are experiencing rapid growth, with a CAGR of 5.3% from 2024 to 2030, attributed to their high resistance to basic substances. This quality makes them ideal for applications where the refractory material is exposed to basic slags, fluxes, or dust.

Bricks and shapes are projected to have a faster growth rate with a CAGR of 5.4% from 2024 to 2030 due to increased demand and formulation enhancements.

Monolithic refractories prevailed over 50% of the market by the year 2023, largely because of their economic advantages, superior thermal performance, and versatility.

In 2023, the iron & steel category had a market share of 70% while being also the fastest-growing category, which is game-changing for the steel production process.

APAC is the largest region in the world with 70% of the market in the year 2023 and is predicted to grow at the highest CAGR of 5.2% during the forecast period. These industries - such as glass, cement, power generation, and iron & steel - stimulated by the fast urbanization and industrialization in India and China, are the main factors for such growth.

Product Code: 12329

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit

1.4.1 Volume

1.4.2 Value

1.5 Market Size Breakdown by Segment

1.5.1 Market Segmentation by Product

1.5.2 Market Segmentation by Alkalinity

1.5.3 Market Segmentation by Form

1.5.4 Market Segmentation by End User

1.5.5 Market Segmentation by Region

1.5.6 Market Segment Analysis of Countries

1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.1.1 Paid

2.1.2 Unpaid

2.1.3 P&S Intelligence Database

2.2 Primary Research

2.2.1 Breakdown of Primary Research, by Region

2.2.2 Breakdown of Primary Research, by Industry Participant

2.2.3 Breakdown of Primary Research, by Designation

2.2.5 Breakdown of Primary Research, by Company Type

2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Voice of Industry Experts/KOLs

Chapter 5. Market Indicators

5.1 Production of Iron & Steel in Major Countries
5.2 Production of Cement in Major Countries
5.3 Production of Non-Ferrous Metals in Major Countries

Chapter 6. Definition of Market Segments

6.1 By Product

6.1.1 Clay Refractory

6.1.2 Non-Clay Refractory

6.2 By Alkalinity

6.2.1 Basic

6.2.2 Acidic & Neutral

6.3 By Form

6.3.1 Bricks & Shapes

6.3.2 Monolithic

6.4 By End User

6.4.1 Iron and Steel

6.4.2 Energy and Chemicals

6.4.3 Non-Ferrous Metals

6.4.4 Cement

6.4.5 Glass

6.4.6 Others

Chapter 7. Industry Outlook

7.1 Market Dynamics

7.1.1 Trends

7.1.1.1 Increasing demand in high-temperature industrial processes
7.1.1.2 Advancements in refractory technology

7.1.2 Drivers

7.1.2.1 Increasing rate of industrial production
7.1.2.2 Increasing construction activities due to government initiatives for infrastructure development
7.1.2.3 Rising investments in steel industry

7.1.3 Impact Analysis of Drivers on Market Forecast

7.1.4 Restraints

7.1.4.1 Environmental, health, and safety concerns
7.1.4.2 High energy consumption
7.1.4.3 Fluctuating raw material prices

7.1.5 Impact Analysis of Restraints on Market Forecast

7.2 Impact of COVID-19
7.3 Porter's Five Forces Analysis

7.3.1 Bargaining Power of Buyers

7.3.2 Bargaining Power of Suppliers

7.3.3 Intensity of Rivalry

7.3.4 Threat of New Entrants

7.3.5 Threat of Substitutes

7.4 Growth Opportunities in Refractories Market

7.4.1 Recycling and Waste Management

7.4.2 Investments for Production of Green Steel

7.4.3 Economic Growth in Developing Countries

7.5 Macroeconomic Indicators

7.5.1 U.S.

7.5.2 Germany

7.5.3 France

7.5.4 U.K.

7.5.5 Italy

7.5.6 Spain

7.5.7 Japan

7.5.8 China

7.5.9 India

7.6 Latest Technological Advancements

7.6.1 High-Performance Refractories

7.6.2 Sustainable Manufacturing Practices

7.6.3 Recycling of Refractory Materials

7.6.4 Smart Refractories

7.6.5 Examples of Recent Developments

7.7 Insight on Regulatory Scenario

7.7.1 North America

7.7.1.1 Environmental compliance
7.7.1.2 Safety and health compliance
7.7.1.3 Product standards and certification

7.7.2 Europe

7.7.2.1 Declaration of conformity (DoC) and technical file
7.7.2.2 Environmental and safety regulations
7.7.2.3 Specific product regulations
7.7.2.4 Workplace safety and health regulations
7.7.2.5 Product certification and testing

7.7.3 APAC

7.7.3.1 Environmental compliance
7.7.3.2 Safety regulations
7.7.3.3 Industry-specific standards

7.7.4 LATAM

7.7.4.1 Environmental regulations
7.7.4.2 Safety regulations
7.7.4.3 Industry-specific standards

7.7.5 MEA

7.7.5.1 Environmental regulations
7.7.5.2 Safety regulations
7.7.5.3 Industry standards

7.8 Impact of Key Regulations on the Market

7.8.1 North America

7.8.1.1 Environmental compliance
7.8.1.2 Safety and health compliance
7.8.1.3 Product standards and certification

7.8.2 Europe

7.8.2.1 DoC and technical file
7.8.2.2 Environmental and safety regulations
7.8.2.3 Specific product regulations
7.8.2.4 Workplace safety and health regulations
7.8.2.5 Product certification and testing

7.8.3 APAC

7.8.3.1 Environmental compliance
7.8.3.2 Safety regulations
7.8.3.3 Industry-specific standards

7.8.4 LATAM

7.8.4.1 Environmental regulations
7.8.4.2 Safety regulations
7.8.4.3 Industry-specific standards

7.8.5 MEA

7.8.5.1 Environmental regulations
7.8.5.2 Safety regulations
7.8.5.3 Industry standards

7.9 Value Chain Analysis

7.9.1 Raw Material Extraction and Procurement

7.9.2 Processing and Manufacturing

7.9.3 Distribution and Sales

7.9.4 Application in End-Use Industries

7.9.5 Services and Recycling

7.10 Pricing Analysis
7.11 Distributors of Refractory Products

Chapter 8. Competitive Landscape

8.1 List of Market Players and Their Offerings
8.2 Prices of Refractory Products
8.3 List of Other Key Players
8.4 Market Share Analysis of Key Players
8.5 Recent Strategic Developments of Key Players

8.5.1 Mergers & Acquisitions

8.5.2 Facility Expansions

8.5.3 Product Launches

8.5.4 Partnerships & Collaborations

8.5.5 Other Developments

Chapter 9. Global Market Size and Forecast

9.1 Overview
9.2 Market Volume, by Product (2017-2030)
9.3 Market Revenue, by Product (2017-2030)
9.4 Market Volume, by Alkalinity (2017-2030)
9.5 Market Revenue, by Alkalinity (2017-2030)
9.6 Market Volume, by Form (2017-2030)
9.7 Market Revenue, by Form (2017-2030)
9.8 Market Volume, by End User (2017-2030)
9.9 Market Revenue, by End User (2017-2030)
9.10 Market Volume, by Region (2017-2030)
9.11 Market Revenue, by Region (2017-2030)

Chapter 10. North America Market Size and Forecast

10.1 Overview
10.2 Market Volume, by Product (2017-2030)
10.3 Market Revenue, by Product (2017-2030)
10.4 Market Volume, by Alkalinity (2017-2030)
10.5 Market Revenue, by Alkalinity (2017-2030)
10.6 Market Volume, by Form (2017-2030)
10.7 Market Revenue, by Form (2017-2030)
10.8 Market Volume, by End User (2017-2030)
10.9 Market Revenue, by End User (2017-2030)
10.10 Market Volume, by Country (2017-2030)
10.11 Market Revenue, by Country (2017-2030)

Chapter 11. Europe Market Size and Forecast

11.1 Overview
11.2 Market Volume, by Product (2017-2030)
11.3 Market Revenue, by Product (2017-2030)
11.4 Market Volume, by Alkalinity (2017-2030)
11.5 Market Revenue, by Alkalinity (2017-2030)
11.6 Market Volume, by Form (2017-2030)
11.7 Market Revenue, by Form (2017-2030)
11.8 Market Volume, by End User (2017-2030)
11.9 Market Revenue, by End User (2017-2030)
11.10 Market Volume, by Country (2017-2030)
11.11 Market Revenue, by Country (2017-2030)

Chapter 12. APAC Market Size and Forecast

12.1 Overview
12.2 Market Volume, by Product (2017-2030)
12.3 Market Revenue, by Product (2017-2030)
12.4 Market Volume, by Alkalinity (2017-2030)
12.5 Market Revenue, by Alkalinity (2017-2030)
12.6 Market Volume, by Form (2017-2030)
12.7 Market Revenue, by Form (2017-2030)
12.8 Market Volume, by End User (2017-2030)
12.9 Market Revenue, by End User (2017-2030)
12.10 Market Volume, by Country (2017-2030)
12.11 Market Revenue, by Country (2017-2030)

Chapter 13. LATAM Market Size and Forecast

13.1 Overview
13.2 Market Volume, by Product (2017-2030)
13.3 Market Revenue, by Product (2017-2030)
13.4 Market Volume, by Alkalinity (2017-2030)
13.5 Market Revenue, by Alkalinity (2017-2030)
13.6 Market Volume, by Form (2017-2030)
13.7 Market Revenue, by Form (2017-2030)
13.8 Market Volume, by End User (2017-2030)
13.9 Market Revenue, by End User (2017-2030)
13.10 Market Volume, by Country (2017-2030)
13.11 Market Revenue, by Country (2017-2030)

Chapter 14. MEA Market Size and Forecast

14.1 Overview
14.2 Market Volume, by Product (2017-2030)
14.3 Market Revenue, by Product (2017-2030)
14.4 Market Volume, by Alkalinity (2017-2030)
14.5 Market Revenue, by Alkalinity (2017-2030)
14.6 Market Volume, by Form (2017-2030)
14.7 Market Revenue, by Form (2017-2030)
14.8 Market Volume, by End User (2017-2030)
14.9 Market Revenue, by End User (2017-2030)
14.10 Market Volume, by Country (2017-2030)
14.11 Market Revenue, by Country (2017-2030)

Chapter 15. U.S. Market Size and Forecast

15.1 Overview
15.2 Market Volume, by Product (2017-2030)
15.3 Market Revenue, by Product (2017-2030)
15.4 Market Volume, by Alkalinity (2017-2030)
15.5 Market Revenue, by Alkalinity (2017-2030)
15.6 Market Volume, by Form (2017-2030)
15.7 Market Revenue, by Form (2017-2030)
15.8 Market Volume, by End User (2017-2030)
15.9 Market Revenue, by End User (2017-2030)

Chapter 16. Canada Market Size and Forecast

16.1 Overview
16.2 Market Volume, by Product (2017-2030)
16.3 Market Revenue, by Product (2017-2030)
16.4 Market Volume, by Alkalinity (2017-2030)
16.5 Market Revenue, by Alkalinity (2017-2030)
16.6 Market Volume, by Form (2017-2030)
16.7 Market Revenue, by Form (2017-2030)
16.8 Market Volume, by End User (2017-2030)
16.9 Market Revenue, by End User (2017-2030)

Chapter 17. Germany Market Size and Forecast

17.1 Overview
17.2 Market Volume, by Product (2017-2030)
17.3 Market Revenue, by Product (2017-2030)
17.4 Market Volume, by Alkalinity (2017-2030)
17.5 Market Revenue, by Alkalinity (2017-2030)
17.6 Market Volume, by Form (2017-2030)
17.7 Market Revenue, by Form (2017-2030)
17.8 Market Volume, by End User (2017-2030)
17.9 Market Revenue, by End User (2017-2030)

Chapter 18. France Market Size and Forecast

18.1 Overview
18.2 Market Volume, by Product (2017-2030)
18.3 Market Revenue, by Product (2017-2030)
18.4 Market Volume, by Alkalinity (2017-2030)
18.5 Market Revenue, by Alkalinity (2017-2030)
18.6 Market Volume, by Form (2017-2030)
18.7 Market Revenue, by Form (2017-2030)
18.8 Market Volume, by End User (2017-2030)
18.9 Market Revenue, by End User (2017-2030)

Chapter 19. U.K. Market Size and Forecast

19.1 Overview
19.2 Market Volume, by Product (2017-2030)
19.3 Market Revenue, by Product (2017-2030)
19.4 Market Volume, by Alkalinity (2017-2030)
19.5 Market Revenue, by Alkalinity (2017-2030)
19.6 Market Volume, by Form (2017-2030)
19.7 Market Revenue, by Form (2017-2030)
19.8 Market Volume, by End User (2017-2030)
19.9 Market Revenue, by End User (2017-2030)

Chapter 20. Italy Market Size and Forecast

20.1 Overview
20.2 Market Volume, by Product (2017-2030)
20.3 Market Revenue, by Product (2017-2030)
20.4 Market Volume, by Alkalinity (2017-2030)
20.5 Market Revenue, by Alkalinity (2017-2030)
20.6 Market Volume, by Form (2017-2030)
20.7 Market Revenue, by Form (2017-2030)
20.8 Market Volume, by End User (2017-2030)
20.9 Market Revenue, by End User (2017-2030)

Chapter 21. Spain Market Size and Forecast

21.1 Overview
21.2 Market Volume, by Product (2017-2030)
21.3 Market Revenue, by Product (2017-2030)
21.4 Market Volume, by Alkalinity (2017-2030)
21.5 Market Revenue, by Alkalinity (2017-2030)
21.6 Market Volume, by Form (2017-2030)
21.7 Market Revenue, by Form (2017-2030)
21.8 Market Volume, by End User (2017-2030)
21.9 Market Revenue, by End User (2017-2030)

Chapter 22. China Market Size and Forecast

22.1 Overview
22.1 Market Volume, by Product (2017-2030)
22.2 Market Revenue, by Product (2017-2030)
22.3 Market Volume, by Alkalinity (2017-2030)
22.4 Market Revenue, by Alkalinity (2017-2030)
22.5 Market Volume, by Form (2017-2030)
22.6 Market Revenue, by Form (2017-2030)
22.7 Market Volume, by End User (2017-2030)
22.8 Market Revenue, by End User (2017-2030)

Chapter 23. Japan Market Size and Forecast

23.1 Overview
23.2 Market Volume, by Product (2017-2030)
23.3 Market Revenue, by Product (2017-2030)
23.4 Market Volume, by Alkalinity (2017-2030)
23.5 Market Revenue, by Alkalinity (2017-2030)
23.6 Market Volume, by Form (2017-2030)
23.7 Market Revenue, by Form (2017-2030)
23.8 Market Volume, by End User (2017-2030)
23.9 Market Revenue, by End User (2017-2030)

Chapter 24. India Market Size and Forecast

24.1 Overview
24.2 Market Volume, by Product (2017-2030)
24.3 Market Revenue, by Product (2017-2030)
24.4 Market Volume, by Alkalinity (2017-2030)
24.5 Market Revenue, by Alkalinity (2017-2030)
24.6 Market Volume, by Form (2017-2030)
24.7 Market Revenue, by Form (2017-2030)
24.8 Market Volume, by End User (2017-2030)
24.9 Market Revenue, by End User (2017-2030)

Chapter 25. Australia Market Size and Forecast

25.1 Overview
25.2 Market Volume, by Product (2017-2030)
25.3 Market Revenue, by Product (2017-2030)
25.4 Market Volume, by Alkalinity (2017-2030)
25.5 Market Revenue, by Alkalinity (2017-2030)
25.6 Market Volume, by Form (2017-2030)
25.7 Market Revenue, by Form (2017-2030)
25.8 Market Volume, by End User (2017-2030)
25.9 Market Revenue, by End User (2017-2030)

Chapter 26. South Korea Market Size and Forecast

26.1 Overview
26.2 Market Volume, by Product (2017-2030)
26.3 Market Revenue, by Product (2017-2030)
26.4 Market Volume, by Alkalinity (2017-2030)
26.5 Market Revenue, by Alkalinity (2017-2030)
26.6 Market Volume, by Form (2017-2030)
26.7 Market Revenue, by Form (2017-2030)
26.8 Market Volume, by End User (2017-2030)
26.9 Market Revenue, by End User (2017-2030)

Chapter 27. Brazil Market Size and Forecast

27.1 Overview
27.2 Market Volume, by Product (2017-2030)
27.3 Market Revenue, by Product (2017-2030)
27.4 Market Volume, by Alkalinity (2017-2030)
27.5 Market Revenue, by Alkalinity (2017-2030)
27.6 Market Volume, by Form (2017-2030)
27.7 Market Revenue, by Form (2017-2030)
27.8 Market Volume, by End User (2017-2030)
27.9 Market Revenue, by End User (2017-2030)

Chapter 28. Mexico Market Size and Forecast

28.1 Overview
28.2 Market Volume, by Product (2017-2030)
28.3 Market Revenue, by Product (2017-2030)
28.4 Market Volume, by Alkalinity (2017-2030)
28.5 Market Revenue, by Alkalinity (2017-2030)
28.6 Market Volume, by Form (2017-2030)
28.7 Market Revenue, by Form (2017-2030)
28.8 Market Volume, by End User (2017-2030)
28.9 Market Revenue, by End User (2017-2030)

Chapter 29. Saudi Arabia Market Size and Forecast

29.1 Overview
29.2 Market Volume, by Product (2017-2030)
29.3 Market Revenue, by Product (2017-2030)
29.4 Market Volume, by Alkalinity (2017-2030)
29.5 Market Revenue, by Alkalinity (2017-2030)
29.6 Market Volume, by Form (2017-2030)
29.7 Market Revenue, by Form (2017-2030)
29.8 Market Volume, by End User (2017-2030)
29.9 Market Revenue, by End User (2017-2030)

Chapter 30. South Africa Market Size and Forecast

30.1 Overview
30.2 Market Volume, by Product (2017-2030)
30.3 Market Revenue, by Product (2017-2030)
30.4 Market Volume, by Alkalinity (2017-2030)
30.5 Market Revenue, by Alkalinity (2017-2030)
30.6 Market Volume, by Form (2017-2030)
30.7 Market Revenue, by Form (2017-2030)
30.8 Market Volume, by End User (2017-2030)
30.9 Market Revenue, by End User (2017-2030)

Chapter 31. U.A.E. Market Size and Forecast

31.1 Overview
31.2 Market Volume, by Product (2017-2030)
31.3 Market Revenue, by Product (2017-2030)
31.4 Market Volume, by Alkalinity (2017-2030)
31.5 Market Revenue, by Alkalinity (2017-2030)
31.6 Market Volume, by Form (2017-2030)
31.7 Market Revenue, by Form (2017-2030)
31.8 Market Volume, by End User (2017-2030)
31.9 Market Revenue, by End User (2017-2030)

Chapter 32. Company Profiles

32.1 RHI Magnesita GmbH

32.1.1 Business Overview

32.1.2 Product and Service Offerings

32.1.3 Key Financial Summary

32.2 Ruitai Materials Technology Co. Ltd.

32.2.1 Business Overview

32.2.2 Product and Service Offerings

32.3 Compagnie de Saint-Gobain S.A.

32.3.1 Business Overview

32.3.2 Product and Service Offerings

32.3.3 Key Financial Summary

32.4 SHINAGAWA REFRACTORIES CO. LTD.

32.4.1 Business Overview

32.4.2 Product and Service Offerings

32.4.3 Key Financial Summary

32.5 Continental Refractories Private Limited

32.5.1 Business Overview

32.5.2 Product and Service Offerings

32.6 Vesuvius plc

32.6.1 Business Overview

32.6.2 Product and Service Offerings

32.6.3 Key Financial Summary

32.7 Zhejiang Zili Advanced Materials Co. Ltd.

32.7.1 Business Overview

32.7.2 Product and Service Offerings

32.8 SARVESH Refractory Private Limited

32.8.1 Business Overview

32.8.2 Product and Service Offerings

32.9 CALDERYS France S.A.S.

32.9.1 Business Overview

32.9.2 Product and Service Offerings

32.1 YINGKOU JINLONG REFRACTORIES GROUP

32.10.1 Business Overview

32.10.2 Product and Service Offerings

32.11 SINOSTEEL REFRACTORY CO. LTD.

32.11.1 Business Overview

32.11.2 Product and Service Offerings

32.12 Qinghua Group

32.12.1 Business Overview

32.12.2 Product and Service Offerings

32.13 POSCO FUTURE M Co. Ltd.

32.13.1 Business Overview

32.13.2 Product and Service Offerings

32.13.3 Key Financial Summary

32.14 Lhoist Group

32.14.1 Business Overview

32.14.2 Product and Service Offerings

32.15 Krosaki Harima Corporation

32.15.1 Business Overview

32.15.2 Product and Service Offerings

32.15.3 Key Financial Summary

32.16 Jainco Refractory Products Pvt. Ltd.

32.16.1 Business Overview

32.16.2 Product and Service Offerings

32.17 Puyang Refractories Group Co. Ltd.

32.17.1 Business Overview

32.17.2 Product and Service Offerings

32.18 Morgan Advanced Materials plc

32.18.1 Business Overview

32.18.2 Product and Service Offerings

32.18.3 Key Financial Summary

32.19 Minerals Technologies Inc.

32.19.1 Business Overview

32.19.2 Product and Service Offerings

32.19.3 Key Financial Summary

32.2 Magnezit Group

32.20.1 Business Overview

32.20.2 Product and Service Offerings

32.21 Alsey Refractories Company

32.21.1 Business Overview

32.21.2 Product and Service Offerings

32.22 HarbisonWalker International Inc.

32.22.1 Business Overview

32.22.2 Product and Service Offerings

32.23 Allied Mineral Products

32.23.1 Business Overview

32.23.2 Product and Service Offerings

32.24 Almatis GmbH

32.24.1 Business Overview

32.24.2 Product and Service Offerings

32.25 CerCo Corporation

32.25.1 Business Overview

32.25.2 Product and Service Offerings

32.26 CoorsTek Inc.

32.26.1 Business Overview

32.26.2 Product and Service Offerings

32.27 IFGL Refractories Limited

32.27.1 Business Overview

32.27.2 Product and Service Offerings

32.27.3 Key Financial Summary

32.28 Imerys S.A.

32.28.1 Business Overview

32.28.2 Product and Service Offerings

32.28.3 Key Financial Summary

32.29 TYK Corporation

32.29.1 Business Overview

32.29.2 Product and Service Offerings

32.30 Refratechnik Group

32.30.1 Business Overview

32.30.2 Product and Service Offerings

Chapter 33. Appendix

33.1 Sources and References
33.2 Related Reports

Refractories Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)