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Refractories Market | Covid-19 Impact Analysis
The Refractories Market is Segmented by Form Type (Bricks & Shapes, Monolithic, and Others), by Composition Type (Clay-based, Nonclay-based), by Type (Acidic, Basic, and Neutral), by Manufacturing Process Type (Dry Press Process, Fused Cast, Hand Molded, Formed, and Unformed), by End-User Type (Iron & Steel, Non-metallic Materials, Non-ferrous Metals, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Refractories Market is likely to witness an impressive CAGR of 4.2% during the forecast period. Growing product demand from aerospace, automotive, electrical, glass, cement industries, growth in iron and steel industry, and rising demand for more energy efficient techniques in steel making are some of the major factors boosting the growth of the refractories market during the forecast period.
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Refractories Market - Snapshot |
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Growth |
4.2% for the next five years |
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Major Form Type |
Bricks & Shapes |
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Major Composition Type |
Clay-based |
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Largest Type |
Neutral |
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Dominant Manufacturing Process |
Fused Cast |
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Fastest End-User Type |
Iron & Steel |
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Region with the highest demand |
North America |
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Key Players |
Chosun Refractories, CoorsTek Incorporated, HarbisonWalker International, Inc., Imerys S.A., Krosaki Harima Corporation, Morgan Advanced Materials, RHI Magnesita N.V., Saint-Gobain, Shinagawa Refractories Co., Ltd., and Vesuvius PLC. |
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Based on the form type, the market is segmented as bricks & shapes, monolithic, and others. Bricks & shapes are estimated to hold the major share of the market during the forecast period. These refractories are also known as performed refractories and are utilized for forming floor tiles, aches and walls of various extreme temperature process equipment. The shape and production of refractories depends primarily on the size and structure of furnaces or other services where the utilization of refractories products can be done. Apart from iron blast furnace, other lining works are composed of standard refractories already available in the market as only iron blast furnace requires refractories brick of varied shapes and sizes.
Based on the composition type, the market is segmented as clay-based and nonclay-based. The clay-based refractories segment is estimated to account for the major share of the market during the forecast period. This clay-based refractory includes mullite ceramics, fire clays, etc. and are generally produced as monolithic, preformed bricks, and are also helpful in developing light weight refractories in the form of blankets, fiberboards, and vacuum cast shapes.
Based on the type, the market is segmented as acidic, basic, and neutral. Neutral type segment is anticipated to hold the largest share of the market during the forecast period as these refractories cannot be attacked by acid or basic slags and hence, this is the most preferred type of product. This refractory includes graphite, zirconium carbide, chromite, silicon carbides, etc.
Based on the manufacturing process type, the market is segmented as dry press process, fused cast, hand molded, formed, and unformed. Fused cast manufacturing process type is estimated to account for the major share of the market during the forecast period. The raw materials required for refractories in each manufacturing process are oxidized before melting by treating it with heat, so as to minimize the oxygen content needed for oxidizing molten refractories.
Based on the end-user type, the market is segmented as iron & steel, non-metallic materials, non-ferrous metals, and others. Iron & steel segment is projected to witness significant growth rate in the market during the forecast period. This refractory needs refractories to be used for various applications such as blast furnaces, process gas heaters, basic oxygen making steel vessels, troughs, electric arc furnace, and torpedo ladles. Further, China has well developed iron and steel market, representing as an important factor fueling the refractories production in the country which is having a positive impact on the overall market during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing region in the market owing to growing production and research and development centers with China, Japan, and India being the major countries as the leading contributors in iron & steel, non-ferrous and glass industries during the forecast period. Factors such as growing industries owing to increasing per capita expenditure of the population and increase in urbanization are the major factors fueling the regional market growth over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Some of the key players in the refractories market are-
Refractories are materials which are resistant to decomposition by heat, pressure, or chemical attack and have high melting point, capable of maintaining structural properties at very high temperature. These are inorganic, porous, non-metallic, and heterogeneous, and are available in various forms such as bricks & shapes, monolithic, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Refractories Market Research Report - Features |
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Market Segmentation |
6 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The refractories market is segmented into the following categories.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The refractories market is expected to witness an impressive growth of 4.2% CAGR in the foreseeable future.
Chosun Refractories, CoorsTek Incorporated, HarbisonWalker International, Inc., Imerys S.A., Krosaki Harima Corporation, Morgan Advanced Materials, RHI Magnesita N.V., Saint-Gobain, Shinagawa Refractories Co., Ltd., and Vesuvius PLC are among the key players in the refractories market.
Asia-pacific is expected to be the largest refractories market during the next five years.
Iron & steel segment is expected to witness significant growth rate in the refractories market in the coming years.
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