Global Refractories Market is valued approximately at USD 22.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.4 % over the forecast period 2020-2027.
Refractories or refractory materials are resistant to the high temperatures used in mould or crucible construction. They are made from natural and synthetic materials, usually non-metallic, or alloy and mineral combinations such as alumina, fireclays, bauxite, chromite, dolomite, magnesite, silicon carbide, and zirconia. Refractory demand can be attributed to the growing development of infrastructure in developed and developing countries worldwide. Growing demand for non-ferrous metals used to produce castings for the aerospace, automotive, medical, building, and electrical industries is likely to drive the global market for refractories. Whereas, Recycling of refractory materials is expected to create significant growth opportunity in the market over the forecast period. The key players of global Refractories market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance,
Morgan Advanced Materials purchased Carbo San Luis (Buenos Aires, ARG) in June 2020 to support and extend the network in Argentina, Chile and Peru. In June 2020, Vesuvius released its latest product — KALPUR, under its brand Foseco.
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The regional analysis of global Refractories market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to due to the growing construction industry along with Increasing demand for non-ferrous metals in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapid industrialization and urbanization in the emerging economies such as India, Thailand, and Malaysia have resulted in an increased number of residential and commercial construction activities would create lucrative growth prospects for the Refractories market across Asia-Pacific region.
Major market player included in this report are:
Morgan Advanced Materials
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Acidic & Neutral Refractories
By End-Use Industry:
Iron & Steel
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Refractories Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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