Refractories Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2028

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Furthermore, the report discusses some major challenges, imminent threats, unfavorable government policies, and stringent regulatory frameworks in the market that are likely to negatively impact its growth in the years to come.

Reports and Data’s latest industry analysis report is a reliable source of information on the global Refractories Market  and its key segments. The report lays stress on the current market size, market share and key market dynamics including drivers, restraints, opportunities, supply demand ratios, upcoming market trends, technological innovations, and value chain analysis. The accurate market projections contained in the report are predicated on historical and present market data and effective research methodologies. The report presents quantitative and qualitative industry insights, along with vital information related to market revenue growth rate, industry annual sales, regional outlook, product type application ranges, and key industry statistics. 

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According to the report, the global Refractories Market is projected to reach a whopping market .The Refractories Market research report highlights the major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. It elaborates on various aspects these regional markets, such as shifting consumer tastes preferences, fluctuations in supply demand, changing production consumption patterns, and revenue growth rate of each market. In addition, the report analyzes the current position of each player in the Refractories Market leveraging various analytical tools such as Porter’s Five Forces analysis, SWOT analysis, and Capacity Utilization analysis.  

The materials chemicals industry consists of companies that engage in the manufacture of a wide range of industrial and commercial products using various chemicals and raw materials such as oil, natural gas, metals, and minerals. Growing demand for consumer products such as soaps, perfumes, detergents, extensive usage of chemicals and raw materials in industries including buildings construction, food beverage, and agriculture, and increasing demand for environmentally sustainable raw materials and chemicals are among the key drivers for the industry growth. Rising environmental awareness, technological advancements in various chemical products, development of organic chemicals and materials, growing use of high-performance agrochemicals and specialty chemicals are other major factors bolstering the growth of this industry.

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Top Companies Profiled in the Report: Imerys, Vesuvius, Krosaki Harima Corporation, RHI Magnesita GmbH, Saint-Gobain, Corning Incorporated, Shinagawa Refractories, Coorstek Incorporated, Chosun Refractories, and Calderys Refractories Limited. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.

 

Market Dynamics:
Drivers:

ASTM International defines refractories as non-metallic materials with chemical and physical properties that make the products applicable for structures or as components of systems that are exposed to environments above 538°C. In the production of steel, demand for more energy-efficient approaches is expected to support market growth during the forecast period. The product comprises of an ability to tolerate extreme temperature, which a requirement nowadays for modern and technologically advanced engineering, and due to the prerequisite for considerable measures of long-lasting, corrosion-resistant coated steel an intensification in the number of large-scale renewable energy developments is further driving market growth. Refractories are used for coating hot exteriors found inside several industrial procedures, owing to their better heat-resistance in assessment to other metals.

Existing players in the market are investing in research and development to stay ahead of the competition. Companies are also engaging in strategic activities including mergers and acquisitions, partnerships, product developments, business expansions, to expand customer base and generate revenue.

Market

Insights:
Chemical Composition Outlook:

The basic type segment is expected to account for the second-largest revenue share in the global refractories market in 2020. This is due to its applicability in wide range of applications in open hearth, oxygen converters, electric furnace and non-ferrous metal smelting equipment among other heating equipment. Magnesia, dolomite and limestone are the main components of basic refractory. Magnesite brick, because of its robust resistance to alkaline slag and iron slag, is the most frequently used basic refractory brick. Basic refractory material possess capability of high refractoriness and strong alkaline slag resistance and is used for open hearth, oxygen converter, electric furnace, non-ferrous metal smelting equipment and other heating equipment.

The acidic segment is projected to register moderately steady revenue growth rate during the forecast period. The principal raw materials employed in the production process of refractories include aluminum, oxides of silicon, zirconium, magnesium and calcium among other raw materials. These also include non-refractory raw materials such as carbides, silicates, graphite, nitrides and borides. Refractories have an ability to be physically and chemically be stable in extreme high temperatures. Silica is the main component of the acidic refractories, and have the ability to resist acid slag erosion and can easily react to alkaline slag erosion at high temperature environment. Acidic refractories often finds applicability in open hearth regenerators, coke ovens, furnace roofs, refractory firing kiln and glass tank furnaces in metallurgical industry.

Form Outlook:

The monolithic segment is expected to register the highest CAGR during the forecast period. This is because of increasing preference for monolithic type over conventional brick products due to benefits offered by monolithic linings such as better spalling tendency, elimination of joints, greater volume stability, easier transportation and handling, and requirement of low skilled workforce. In addition, monolithic refractors are replacing traditional type fired refractories in countless applications including those of industrial furnaces. Additionally, shielding refractories with low conductivity and decent automated strength are used to condense heat loss in areas where abrasion by aggressive slag and molten metal are not severe. These materials aid manufacturers to save cost of fuel and control rapid heat-up.

Region Outlook (Revenue, USD Million; 2018 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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