Refractories - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Refractories Market is accounted for $23.71 billion in 2018 and is expected to reach $34.63 billion by 2027 growing at a CAGR of 4.3% during the forecast period. Factors such as the increase in infrastructural development in emerging countries, growing demand for high-grade refractories from the iron & steel industry and increase in the production of non-ferrous materials are fuelling the market growth. However, environmental concerns and health and safety issues are hampering the market.
Refractories or refractory materials are resistant to high temperatures which are used in making moulds or crucibles. They are produced from natural and synthetic materials, generally non-metallic, or combinations of compounds and minerals. These materials must be chemically and physically stable at high temperatures.
Amongst form, the growth of the Unshaped Refractories segment is mainly attributed to the demand from the cement, glass, and ceramic industries. Unshaped refractories are mostly preferred by manufacturers than shaped refractories. These are widely used by manufacturers as the unshaped refractories are easy to use and have applications in various end-use industries.
By Geography, APAC is likely to have a huge demand due to increasing production and R&D facilities in this region. China, India, and Japan are the major contributors to the growth of iron & steel, glass, and non-ferrous metals industries in the region. These industries are witnessing growth owing to the increasing per capita expenditure and growing urbanization.
Some of the key players in global Refractories market are Vesuvius, Harbisonwalker International, Saint-Gobain, Shinagawa Refractories, Chosun Refractories Co. Ltd, Coorstek Incorporated, RHI Magnesita, Morgan Advanced Materials, Corning Incorporated, Krosaki Harima, Imerys, Harbisonwalker International, IFGL Refractories Ltd, Minerals Technologies Inc. and Magnezit Group.
• Basic Refractories
• Acidic & Neutral Refractories
Manufacturing Processes Covered:
• Fused Cast
• Dry Press Process
• Hand Moulded
• Unshaped Refractories
• Shaped Refractories
• Other Forms
End Users Covered:
• Power Generation
• Cement & Lime
• Iron & Steel
• Non-Ferrous Metal
• Energy & Chemicals
• Non-Metallic Materials
• Chemical Manufacturing Plants
• Petrochemical Refineries
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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