The Global Refractories Market is estimated to reach USD 37.3 Billion by 2024 at a CAGR of 4.3 %.
Refractories are the material that possess ability to withstand extremely high temperature i.e. around 3000°C without degrading. The refractory materials encompass of ceramics, minerals, and some super alloys which are used in modern manufacturing. These materials have higher capacity to resist heat than that of metals and thus can be used in various industrial application. Apart from high resistance to thermal stress, these materials have high capability to withstand the physical wear and corrosion caused by chemical agents. Owing to high ability to withstand high temperature condition, it is widely used in furnaces, ovens, kilns, and jet and rocket engines.
Market Drivers:
The refractories play vital role in manufacturing sector, especially for production of glass, cement, and mineral processing, lime, etc. which can be further used for multiple application. The market growth is fueled by rising demand for temperature resistant, stiff, durable, cost effective materials to cater the booming manufacturing sector. The growing demand for various automotive vehicle, industrial equipment, cement, metals to carry out different purpose in anticipated to boost the market in the following years.
Cement industry and metal especially steel industry operates in close proximity in order to minimize the production cost and imports of the respective country. The growth of the refractories market is projected to grow at a substantial pace owing to soaring demand for metals and cement. According to World Steel Association, demand for steel worldwide is anticipated to grow by 1.7% in 2020. The rising construction spending, increasing demand for residential apartments owing to ongoing urbanization is projected to gain promising market growth in the years to follow.
Market Restraints:
Stringent environmental regulation imposed on emission of Hazardous Air Pollution (HAP) is projected to hinder the growth of this market. For instance, U.S Environment Protection Agency (EPA) has imposed regulation to meet the HAP emission standards on the refractory products manufacturing in order to minimize the air pollution and promote public health. Some of hazardous air pollutant emitted through refractories includes ethylene glycol, formaldehyde, hydrogen fluoride, methanol, phenol, and polycyclic organic matter among others.
The report on the Refractories market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2017-2024 |
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Base Year for Market Calculation |
2018 |
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Forecasted Period |
2019-2024 (2019 estimated year, forecasted up to 2024) |
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Measured Units |
Value (USD Million) Volume (Million Metric Tons) |
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Segments Included |
Material, Chemical Composition, Application, End-Use |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa and South America |
For the scope of report, In-depth segmentation is offered by Forencis Research
Refractories Market, by Material
Refractories Market, by Chemical Composition
Refractories Market, by Application
Refractories Market, by End-Use
Refractories Market, by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction
4.2 Drivers
4.2.1. Growing Demand from the Manufacturing Sector
4.2.2. Soaring Demand for Metals and Cement
4.3 Restraints
4.3.1. Strict Environmental Regulation
4.4 Opportunities
4.4.1. Increasing Adoption of Digitization, Artificial Intelligence, And Automation in Refractories
4.5 Challenges
4.5.1 Fluctuation in Trading of Raw Material
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 REFRACTORIES MARKET BY MATERIAL, Market Size in USD Million and Million Metric Tons (2017—2024)
6.1 Introduction
6.2 Alumina
6.3 Fireclays
6.4 Bauxite
6.5 Chromite
6.6 Dolomite
6.7 Magnesite
6.8 Silicon Carbide
6.9 Zirconia
7 REFRACTORIES MARKET BY CHEMICAL COMPOSITION, Market Size in USD Million and Million Metric Tons (2017—2024)
7.1 Introduction
7.2 Acid Refractories
7.3 Basic Refractories
7.4 Neutral Refractories
8 REFRACTORIES MARKET BY APPLICATION, Market Size in USD Million and Million Metric Tons (2017—2024)
8.1 Introduction
8.2 Boilers
8.3 Furnaces
8.4 Kilns
8.5 Ovens
8.6 Others
9 REFRACTORIES MARKET BY END-USE, Market Size in USD Million and Million Metric Tons (2017—2024)
9.1 Introduction
9.2 Steel and Metal Industry
9.3 Energy Industry
9.4 Chemical Industry
9.5 Glass Industry
9.6 Cement Industry
9.7 Petrochemical Industry
9.8 Waste Management
9.9 Others (Pulp and Paper)
10 REFRACTORIES MARKET BY REGION, Market Size in USD Million (2017—2024)
10.1 North America
8.1.1. US
8.1.2. Canada
8.1.3. Mexico
10.2 Europe
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. UK
8.2.5. Spain
8.2.6. The Netherlands
8.2.7. Rest of Europe
10.3 Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. South Korea
8.3.5. Taiwan
8.3.6. Rest of Asia-Pacific
10.4 Middle East & Africa
8.4.1. Saudi Arabia
8.4.2. UAE
8.4.3. Rest of Middle East
10.5 South America
8.5.1. Brazil
8.5.2. Argentina
8.5.3. Rest of South America
11 COMPETITIVE LANDSCAPE
11.1 Introduction
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 RHI Magnesita N.V.
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 HarbisonWalker International
12.3 Morgan Advanced Materials PLC
12.4 Magnesita Refratários S.A
12.5 Compagnie de Saint-Gobain S.A.
12.6 Vesuvius plc
12.7 Shinagawa Refractories Co., Ltd.
12.8 Imerys S.A
12.9 Corning Incorporated
12.10 Coorstek Incorporated
12.11 Other Key Companies
13 APPENDIX
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain