The Global Refractories Market accounted for USD 28.6billion in 2016 and is projected to grow at a CAGR of 3.8% during the forecast period of 2017 to 2024. Also the Global Refractories Market Research, By Material Type(Clay, Non-clay); By Form factor(bricks and shapes, monolithic and others), By End Use( Iron & Steel, Cement, Ceramics & Glass and others), By Alkalinity (Acidic & Neutral Refractories, Basic Refractories )By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024.
Refractories are inorganic non-metallic materials which include ceramics and superalloys that are used in the heat insulation of jet and rocket engines and furnaces. Refractories are also used in the manufacturing of crucibles and moulds for the casting glass and metals. Iron and steel, cement,glass and ceramic manufacturers are major consumers of refractories.
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Major Market Drivers:
- Infrastructure growth in developing countries
- Growing non-metallic minerals industry
- Increasing demand for high performance furnaces
- Growing concerns related to environment
Market Segmentation: Global Refractories Market
The refractories market is segmented on the basis of material typeinto clay and non-clay.Clay refractories segment is expected to grow at the highest CAGR over the forecast period.
On the basis of form factor, the market is segmented into bricks and shapes, monolithic and others. Bricks and shapes segment is expected to grow at the highest CAGR over the forecast period.
On the basis of end use the market is segmented into Iron & Steel, Cement, Ceramics & Glass and others.
On the basis of alkalinity, the market is segmented into Acidic & Neutral Refractories, Basic Refractories. Acidic & neutral refractories are further segmented into silica refractories, fireclay refractories, alumina refractories, zirconia refractories, chromite refractories, and carbon refractories. Basic Refractoriesare further segmented intoMagnesite Refractories and Dolomite Refractories.
On the basis of geography, the refractoriesmarket report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, Asia-Pacificis expected to dominate the market.
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Competitive Landscape: Global Refractories Market
The global refractories market is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Refractories Market
Some of the major players in the refractories market include RHI AG, Saint-Gobain S.A., Corning Incorporated, Morgan Advanced Materials PLC, MagnesitaRefratários S.A., Shinagawa Refractories Co.,Ltd, Vesuvius PLC, Krosaki Harima Corporation, Coorstek Incorporated, Harbisonwalker International (HWI) Inc., Imerys SA, Puyang Refractories Group Co., Ltd., Chosun Refractories Co., Ltd., IFGL Refractories Ltd., Resco Products, Inc.,Refratechnik Holding GmbH, Minteq International Inc, Magnezit Group Ltd, Cerco LLC, Almatis GmbH, Alteo Holding, Aluchem, Inc., Kerneos SA, Lhoist S.A, Allied Mineral Products, Inc and many more.
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