Refractories Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Refractories Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : March, 2020 | Chemical & Materials | PPT format

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Global Refractories Market: Snapshot

Essentially ceramic materials meant to withstand high temperatures – almost over 1000 degree Fahrenheit – refractories mainly find application in modern manufacturing. They are way more capable than metals when it comes to tolerating high temperatures and mechanical stress and strain. Such USPs are mainly fuelling their usage in numerous industrial and other applications thereby driving the global refractories market. Depending upon chemical composition, the products available in the global refractories market are silica, fireclay, alumina, carbides, dolomite, magnesia, and zirconia refractories.

At the forefront of driving the global refractories market is the surge in infrastructural projects all over the world. India, China, and Brazil, large developing economies, are seeing massive allocation towards such projects and this having a major positive impact on demand in the global refractories market. Building long lasting infrastructure requires hundreds of tons of steel, which in turn need refractories for manufacture. Other factors boosting growth in the global refractories market are proliferating non-metallic minerals industry and the increasing number of iron and steel industries that use high grade refractories.

The global refractories market is however running into headwinds owing to the high cost of purchasing and installing those. Failure in the refractories leads to massive loss in production time, equipment, and even the product at times. To avoid such losses, it is extremely important to choose the right kind of refractory for each application. The best way to do so is by factoring in the one that offers the best balance between initial installed cost and service performance. For example, zirconia is used for extremely high temperatures.

China’s monopoly over the raw materials, is another factor hobbling the global refractories market since it leads to skewed supply demand dynamics in the global refractories market since it means the entire iron and steel industry worldwide is dependent on it.

Global Refractories Market: Overview

Modern manufacturing methods frequently function under extremely high temperatures, at times in excess of 1,000°F, and that calls for ceramic materials that can withstand stronger heat than metals. Refractories are materials that can maintain their form at high temperature and are ideal for kilns, furnaces, reactors, and incinerators. In addition to being heat resistance, refractory materials are also able to deal with physical wear and tear as well as reflect corrosion caused by different chemical agents, making them ideal for the manufacturing of petrochemical products and gasoline refining. As per the findings of this business intelligence report, the demand in the global refractories market will multiply at a notable CAGR during the forecast period of 2017 to 2025.

This refractories market research report is an intelligence study compiled by experienced chemicals and materials analyst, with a solitary goal to act as a decision-aiding tool for its targeted audiences such as manufacturer associations of refractories, raw material manufacturers, traders and distributors of refractories, and research organizations. The report contains in-depth analysis of all factors that will determine the demand for refractories until 2025, segments it into smaller aspects and explores the potential of various important regions and countries. The report completes a thorough assessment of the refractories market by including a featured chapter on the competition matrix, profiling some of the notable players for their business overview, product portfolio, regional presence, and recent strategic decisions.

Global Refractories Market: Trends and Opportunities

Radically increasing development of infrastructure in various emerging economies, significant rise in the non-metallic materials industry, and growing demand for quality refractories from the steel and iron industries are some of the key drivers foreseen to augment the demand for refractories in the near future. Refractories are applied in structures as well as components that are exposed to high temperatures, thermal shock, and chemicals. Going forward, recycling of refractory materials is expected to open new opportunities for the vendors. On the other hand, growing environmental concerns, single-hand monopoly of China over the raw materials, and dependency on the iron and steel industry for a consistent supply of demand are a few restraints curtailing the progress of this market.

Global Refractories Market: Market Potential

The prosperity of end-use industries of refractories expected to reflect positively over its market in the near future. The cement and iron and steel industries are feeding off rapid infrastructural development across emerging economies, whereas glass, non-ferrous metal, and other end users are touching new peaks too.

Based on form, the refractories market can be segmented into unshaped and shaped, whereas alkalinity bifurcation can be done into basic refractories such as dolomite and magnesite and acidic and neutral refractories including alumina, fireclay, silica, carbon, chromite, and zirconia.

Global Refractories Market: Regional Analysis

The vastly populated and emerging economy of China is anticipated to sustain Asia Pacific as the region of most potential in the refractories market over the course of next eight years until 2025. In China as well as other APAC countries such as India, Malaysia, Indonesia, Vietnam, and Thailand, the end-use industries are gaining traction and driving the demand. The developed regions of North America and Europe are expected to offer slender percentage of the demand going forward.

Global Refractories Market: Competitive Landscape

Magnesita Refratários S.A. from Brazil, Calderys from France, Beijing LIRR from China, Refratechnik from Germany, RHI A.G. from Austria, and Vesuvius PLC from the U.K. are a few prominent companies currently ahead of the curve in the global refractories market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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