Refractories find large application in heavy industries like automotive, aerospace, construction and industrial machinery. They are used to manage and control heat output and dissipation during power generation. Boilers that are used for extracting energy from coal are coated withrefractories to provide resistance against thermal shock.
With the rapid transition towards power plants fired by natural gas, the demand for refractories that offer high levels of heat-resistant is expected to witness considerable growth in the years to come.Market Dynamics
The Global market for refractories, in terms of revenue is expected to be valued at $42 billion and in terms of volume, is expected to grow at a rate of about 3.3%, surpassing 45,000 KT by 2022.
The market for refractories is heavily influenced by trends in economy and other macro & micro factors, where trends in industries like iron & steel, metals and ferrous makes the most impact.
Since iron and steel are crucial for industries like aerospace, automotive, construction and industrial machinery, development in these industries have fuelled the growth of refractories market as well.Market Segmentation
The global industry for refractories can be segmented as follows:
By Product type
It can be classified as Clay and Non-Clay type, where currently, the clay products segment dominates the global market and it is expected to witness rapid growth over the forecasted period as well.
Refractories find large application in Iron & Steel, Non-metallic materials and Non-ferrous materials industry. Out of these, the largest end-user industry is the iron and steel industry.
Asia Pacific region is one of the most important and largest markets for refractories globally. The demand and production for refractories in this region are mostly concentrated in China. Followed by China, India is another key market in this industry, but it is facing headwinds due to the increase in raw material prices.
North America & European Union forms another major markets. But due to low cost imports from China, these 2 markets are facing stiff competition. These 2 markets are mainly driven by the technological innovation and complex projects.
In Middle East region, the refractories industry is expected to witness an impetus on account of increasing emphasis on reducing oil exports dependence.Key Players
Some of the leading players operating in the global market for refractories include companies like-Magnezit Group Ltd., Vesuvius plc, Krosaki Harima Corporation,RHI Magnesita N.V., Morgan Advanced Materials plc, Shinagawa Refractories Co. Ltd., Chosun Refractories Co,Ltd., Resco Products, Inc., IFGL Refractories Limited, Alsey Refractories Co, Luossavaara-Kiirunavaara AB, The Christy Refractories Company,Steel Authority of India Limited, Minerals Technologies Inc., Allied Mineral Products, Puyang Refractory Materials Co. Ltd., Compagnie de Saint-Gobain SA, and others.Report Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus