DUBLIN, Jan. 24, 2019 /PRNewswire/ --
The "Refractories Market by Form (Shaped Refractories, Unshaped Refractories), Alkalinity (Acidic & Neutral. Basic), End-Use Industry (Iron & Steel, Power Generation, Non-Ferrous Metals, Cement, Glass), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global refractories market is estimated to be USD 23.3 billion in 2018 and is projected to reach USD 26.3 billion by 2023, at a CAGR of 2.5%.
The increase in demand from the iron & steel, glass, non-ferrous metals, and power generation industries fuel the refractories market. The increasing demand from APAC due to the growth of the construction and automotive industries is driving the refractories market growth. However, the downfall of the iron & steel industry in some areas can affect the refractories market.
Iron & Steel is estimated to be the largest whereas glass is projected to be the fastest-growing end-use industry for refractories.
The demand for refractories is driven by its use for applications in various end-use industries such as iron & steel, glass, and cement. Refractories are used in the linings of high-temperature furnaces, reactors, and other processing units. They act as a thermal barrier between a hot medium and the wall of the containing vessel and also provide a chemical protective barrier against corrosion.
The key drivers for the refractories market are the increasing infrastructural development in emerging countries, high growth of the non-metallic mineral industry, and the growing demand for high-grade refractories from the iron & steel industry. These factors have fueled the demand for refractories in countries such as China, India, and Japan.
Unshaped refractories is estimated to be the largest and projected to be the fastest-growing type by form.
Unshaped refractories are estimated to be the largest type of refractories by form. The segment is also expected to witness the highest growth between 2018 and 2023. The significant properties of these refractories such as their chemical inertness, mechanical integrity, abrasion and thermal shock resistance at high temperatures, and ease of use make them suitable for use in many applications in the iron & steel, cement, glass, and non-ferrous metal industries. Unshaped refractories are replacing the conventional type of refractories at a much faster rate in many applications that require high-temperature resistance.
Acidic & neutral refractories are estimated to be the largest type of refractories by alkalinity.
Acidic & neutral refractories are estimated to be the largest and projected to be the fastest-growing type of refractories by alkalinity. Acidic refractories are rich in silica and alumina content and are mainly used in the glass and ceramic industries, which is expected to drive the refractories market. Neutral refractories are resistant to acid as well as basic slags; it is rich in graphite and chromite. These refractories are extensively used in metallurgical furnaces.
APAC is estimated to be the largest refractories market.
APAC is estimated to be the largest market for refractories. The growth is mainly attributed to the presence of a large number of refractory manufacturers, rising foreign investments, and growing demand for refractories from the iron & steel, glass, non-ferrous metals, and other industries. China leads the market owing to the abundance of raw materials in the country, increasing use of refractories in the iron & steel, glass, non-ferrous metals, and power generation industries, and numerous developmental strategies adopted by the manufacturers.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Refractories Market
4.2 Refractories Market, By Major Country
4.3 Global Refractories Market, By End-Use Industry and Region
5 Market Overview
5.2 Market Dynamics
188.8.131.52 Increase in Infrastructural Development in Emerging Countries
184.108.40.206 High Growth Rate Witnessed By the Non-Metallic Minerals Industry
220.127.116.11 Growing Demand for High-Grade Refractories From the Iron & Steel Industry
18.104.22.168 Restrictions on the Use of Refractories Due to the Growing Environmental Concerns
22.214.171.124 Monopoly of China Over Raw Material Supply
126.96.36.199 Recycling of Refractory Materials
188.8.131.52 Consolidation of the Market
184.108.40.206 Overdependence on the Iron & Steel Industry
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
6 Refractories Market, By Form
6.1.1 Shaped Refractories
220.127.116.11 Increasing Demand From Boilers, Nuclear Reactors, and Cement Kilns is Driving the Demand for Shaped Refractories
6.1.2 Unshaped Refractories
18.104.22.168 Qualities Such as Ease-Of-Use and Better Volume Stability are Increasing the Demand for Unshaped Refractories
7 Refractories Market, By Alkalinity
7.1.1 Acidic & Neutral Refractories
22.214.171.124 Increasing Demand From Steel, Non-Ferrous Metal, and Cement Industries is Driving the Demand for Acidic & Neutral Refractories
126.96.36.199 Silica Refractories
188.8.131.52 Fireclay Refractories
184.108.40.206 Alumina Refractories
220.127.116.11 Zirconia Refractories
18.104.22.168 Chromite Refractories
22.214.171.124 Carbon Refractories
7.1.2 Basic Refractories
126.96.36.199 Increasing Demand From High-Temperature Furnaces, Boilers, and Cement Kilns is Driving the Basic Refractories Market
188.8.131.52 Magnesite Refractories
184.108.40.206 Dolomite Refractories
8 Refractories Market, By End-Use Industry
8.1.1 Iron & Steel
220.127.116.11 Demand From Major Steel Making Countries is Driving the Market for Refractories
8.1.2 Power Generation
18.104.22.168 Demand for Refractories From the Power Generation Industry is Witnessing Slow Growth
8.1.3 Non-Ferrous Metal
22.214.171.124 Increasing Demand From Automotive and Aviation Industries is Driving the Demand for Refractories for Non-Ferrous Metals
126.96.36.199 Infrastructural Developments in Emerging Economies are Driving the Demand for Refractories in the Cement Industry
188.8.131.52 Growing Residential and Commercial Construction in Emerging Economies is Driving the Demand for Refractories in the Glass Industry
8.1.6 Other Industries
184.108.40.206 Growing Chemical and Aerospace Industries are Driving the Demand for Refractories
9 Refractories Market, By Region
10 Competitive Landscape
10.2 Competitive Scenario
10.3 Ranking of Key Players, 2017
10.3.1 RHI Magnesita (Austria)
10.3.2 Vesuvius PLC (UK)
10.3.3 Imerys Sa (France)
10.3.4 Krosaki Harima Corporation (Japan)
10.3.5 Shinagawa Refractories (Japan)
10.3.6 Other Major Players
10.4 Competitive Situations & Trends
10.4.1 Mergers & Acquisitions
10.4.2 New Product Developments
11 Company Profiles
11.1 RHI Magnesita
11.3 Krosaki Harima
11.4 Shinagawa Refractories
11.6 Corning Incorporated
11.7 Morgan Advanced Materials
11.8 Coorstek Incorporated
11.9 Harbisonwalker International
11.11 Chosun Refractories
11.12 Additional Companies
11.12.1 Puyang Refractories Group
11.12.2 IFGL Refractories
11.12.3 Resco Products
11.12.4 Refractechnik Holding GmbH
11.12.5 Minteq International
11.12.6 Magnezit Group
11.12.8 Almatis GmbH
11.12.9 Alteo Holding
11.12.12 Allied Minerals Products
11.12.13 Zhejiang Zili Advanced Materials
11.12.14 Ruitai Materials Technology
11.12.15 Liaoning Qinghua Refractories Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/ctnkdz/global?w=5
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets