Refractories Market-Global Industry Analysis and Forecast (2022-2029)

Refractories Market size was valued at US$ 24.03 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 3.6% through 2021 to 2029, reaching nearly US$ 31.89 Bn.

Refractories Market Overview:

Refractories used in metallurgical processes should be able to withstand a variety of loads. As a result, refractory materials must have great mechanical strength, even at working temperatures, in order to withstand the maximum load without breaking. Furnaces, kilns, incinerators, and reactors all employ refractory materials. Crucibles and moulds for casting glass and metals, as well as surfacing flame deflector systems for rocket launch structures, are made of refractories. Fireclay refractories, high alumina refractories, silica brick, Magnesite refractories, insulating materials, and Monolithic refractories are some of the examples of common refractory materials. Global Refractories Market To know about the Research Methodology :- Request Free Sample Report

Global Refractories Market Dynamics:

Growing urbanisation and industrialisation, particularly in emerging economies like India and China, have resulted in enormous investment in residential and commercial construction. China is one of the world's fastest-growing economies, and rising travel demand necessitates continuous growth of the country's trains and highways. This has also aided China's car industry's growth. The increased pace of infrastructure development in these emerging countries has resulted in a surge in residential and commercial building construction, which is expected to enhance refractories demand in the iron and steel, and cement industries. Organic particulate matter (PM) and hazardous gases like as sulphur dioxide (SO2), nitrogen oxides (NOx), carbon monoxide (CO), carbon dioxide (CO2), fluorides, and volatile organic compounds are released throughout the refractory manufacturing process (VOCs). PM is emitted by processes such as crushing, grinding, calcining, and drying, whereas gases and VOCs are emitted by burning and tar & pitch operations, respectively. Refractory waste disposal legislation and guidelines in the United States support the recycling of chrome-based refractories, which are widely used in the iron and steel industries. In Europe, efforts like ReStaR (Review and Improvement of Testing Standards for Refractory Products) have been established to guarantee the region's current refractory testing standards are reliable and precise. Environmental laws and restrictions on the usage of refractory materials are the major restraints to the refractories market's growth. Refractory grogs are spent refractory materials that are then recycled to create secondary raw materials. High-quality refractories and low-quality refractories are the two categories of refractories. The need for refractory product recycling has increased as the cost of raw materials and freight has risen, and environmental restrictions have driven enterprises to seek out more sustainable alternatives.

Global Refractories Market Segment Analysis:

The Global Refractories Market is segmented by Alkalinity, Form, End-Use Industry, and Material. Based on the Form, the market is segmented into Unshaped Refractories, and Shaped Refractories. The unshaped Refractories segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2029. Unshaped refractories are increasingly replacing traditional refractories in applications that demand high-temperature resistance. Monolithic linings, also known as unshaped refractories, reduce batch delays and enable extensive repairs with minimal downtime. The unshaped refractory has a high purity, compactness, and gradation that is reasonable. It can be produced into a monolithic refractory, which is a continuous lining and structure. Based on the End-Use Industry, the market is segmented into Iron & Steel, Power Generation, Non-Ferrous metals, Cement, Glass, and Others. The iron & Steel segment is expected to hold the largest market share of 65% by 2029. Internal linings of iron and steel furnaces, furnaces for heating steel before further processing, vessels for holding and transporting metal and slag, flues or stacks through which hot gases are conducted, and other applications are among the most common uses of refractories in the iron and steel industry. According to the World Steel Association, global steel demand reached 1.76 million metric tonnes in 2021 and is expected to rise to 1.81 million tonnes by 2029, representing a 1.7% increase. This reflects the global market's demand outlook, which is important in boosting steel output. These are the key drivers that boost the growth of this segment in the global refractories market during the forecast period 2021-2029.

Global Refractories Market Regional Insights:

The Asia Pacific dominates the global refractories market during the forecast period 2021-2029. The Asia Pacific is expected to hold the largest market share of xx% by 2029. China has the largest economy in the Asia-Pacific region in terms of GDP. Even with the economic disruption created by the country's trade war with the United States, the country's GDP grew by roughly 6.1% in 2021. In comparison to the previous year, China's economic growth rate in 2021 was expected to be mild. Due to the local availability of raw materials such as magnesite, China dominates the refractories industry in terms of consumption and production. In China, the building industry increased rapidly in 2021, but owing to the pandemic scenario, this growth was slowed. Whenever the country's economic growth has slowed, the construction sector has stepped in to support it. The country is the world's largest construction market, accounting for 20% of all worldwide construction investments. In the next five years, till 2025, the country would invest USD 1.43 trillion in significant development projects. The Shanghai Plan, according to the National Development and Reform Commission (NDRC), calls for a total investment of USD 38.7 billion over the next three years. Despite the fact that cement production has decreased over the last half-decade, the above-mentioned causes are expected to improve demand for metals, cement, and other market-related items, resulting in a positive outlook for refractories. Refractories Market The objective of the report is to present a comprehensive analysis of the Global Refractories Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Refractories Market dynamic, structure by analyzing the market segments and project the Global Refractories Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Refractories Market make the report investor’s guide.

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Global Refractories Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2021-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 24.03 Bn.
Forecast Period 2021 to 2029 CAGR: 3.6% Market Size in 2029: US $ 31.89 Bn.
Segments Covered: by Alkalinity • Acidic & neutral • Basic
by Form • Unshaped Refractories • Shaped Refractories
by End-Use Industry •  Iron & Steel • Power Generation • Non-Ferrous metals • Cement • Glass • Others
by Material •  Graphite • Magnesite • Chromite • Silica • High Alumina • Zirconia • Other

Global Refractories Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Global Refractories Market Key Players

• Magnesita Refratarios S.A. • Saint-Gobain S.A • RHI AG • Shinagawa Refractories Co. Ltd • Krosaki Harima Corporation • Corning Incorporated • Vesuvius PLC • Harbisonwalker International (HWI) Inc. • Coorstek Incorporated • Morgan Advanced Materials PLC • Lhoist • Imerys SA • Puyang Refractories Group Co., Ltd. • Chosun Refractories Co., Ltd. • IFGL Refractories Ltd. • Resco Products, Inc. Frequently Asked Questions: 1] What segments are covered in Global Refractories Market report? Ans. The segments covered in Global Refractories Market report are based on Alkalinity, Form, End-Use Industry, and Material. 2] Which region is expected to hold the highest share in the Global Refractories Market? Ans. Asia Pacific is expected to hold the highest share in the Global Refractories Market. 3] Who are the top key players in the Global Refractories Market? Ans. Magnesita Refratarios S.A., Saint-Gobain S.A, RHI AG, Shinagawa Refractories Co. Ltd, and Krosaki Harima Corporation are the top key players in the Global Refractories Market. 4] Which segment holds the largest market share in the Global Refractories market by 2029? Ans. Iron and Steel end-use industry segment hold the largest market share in the Global Refractories market by 2029. 5] What is the market size of the Global Refractories market by 2029? Ans. The market size of the Global Refractories market is US $31.89 Bn. by 2029. 6] What was the market size of the Global Refractories market in 2021? Ans. The market size of the Global Refractories maket was worth US $24.03 Bn. in 2021.
1. Global Refractories Market: Research Methodology 2. Global Refractories Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Refractories Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Refractories Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Refractories Market Segmentation 4.1 Global Refractories Market, by Alkalinity (2021-2029) • Acidic & neutral • Basic 4.2 Global Refractories Market, by Form (2021-2029) • Unshaped Refractories • Shaped Refractories 4.3 Global Refractories Market, by End-Use Industry (2021-2029) • Iron & Steel • Power Generation • Non-Ferrous metals • Cement • Glass • Others 4.4 Global Refractories Market, by Material (2021-2029) • Graphite • Magnesite • Chromite • Silica • High Alumina • Zirconia • Other 5. North America Refractories Market (2021-2029) 5.1 Global Refractories Market, by Alkalinity (2021-2029) • Acidic & neutral • Basic 5.2 Global Refractories Market, by Form (2021-2029) • Unshaped Refractories • Shaped Refractories 5.3 Global Refractories Market, by End-Use Industry (2021-2029) • Iron & Steel • Power Generation • Non-Ferrous metals • Cement • Glass • Others 5.4 Global Refractories Market, by Material (2021-2029) • Graphite • Magnesite • Chromite • Silica • High Alumina • Zirconia • Other 5.5 North America Refractories Market, by Country (2021-2029) • United States • Canada • Mexico 6. Asia Pacific Refractories Market (2021-2029) 6.1. Asia Pacific Refractories Market, by Alkalinity (2021-2029) 6.2. Asia Pacific Refractories Market, by Form (2021-2029) 6.3. Asia Pacific Refractories Market, by End-Use Industry (2021-2029) 6.4. Asia Pacific Refractories Market, by Material (2021-2029) 6.5. Asia Pacific Refractories Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Refractories Market (2021-2029) 7.1 Middle East and Africa Refractories Market, by Alkalinity (2021-2029) 7.2. Middle East and Africa Refractories Market, by Form (2021-2029) 7.3. Middle East and Africa Refractories Market, by End-Use Industry (2021-2029) 7.4. Middle East and Africa Refractories Market, by Material (2021-2029) 7.5. Middle East and Africa Refractories Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Refractories Market (2021-2029) 8.1. Latin America Refractories Market, by Alkalinity (2021-2029) 8.2. Latin America Refractories Market, by Form (2021-2029) 8.3. Latin America Refractories Market, by End-Use Industry (2021-2029) 8.4. Latin America Refractories Market, by Material (2021-2029) 8.5. Latin America Refractories Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 9. European Refractories Market (2021-2029) 9.1. European Refractories Market, by Alkalinity (2021-2029) 9.2. European Refractories Market, by Form (2021-2029) 9.3. European Refractories Market, by End-Use Industry (2021-2029) 9.4. European Refractories Market, by Material (2021-2029) 9.5. European Refractories Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Magnesita Refratarios S.A. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Saint-Gobain S.A 10.3. RHI AG 10.4. Shinagawa Refractories Co. Ltd 10.5. Krosaki Harima Corporation 10.6. Corning Incorporated 10.7. Vesuvius PLC 10.8. Harbisonwalker International (HWI) Inc. 10.9. Coorstek Incorporated 10.10. Morgan Advanced Materials PLC 10.11. Lhoist 10.12. Imerys SA 10.13. Puyang Refractories Group Co., Ltd. 10.14. Chosun Refractories Co., Ltd. 10.15. IFGL Refractories Ltd. 10.16. Resco Products, Inc.

About This Report

Report ID 26727
Category Material & Chemical
Published Date Feb 2019
Updated Date Sep 2022