Refractories Market Report

Market Insights

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.

Segments' Analysis

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Refractories Market Share: By Form Type

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.

Refractories Market Share: By Composition Type

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.

Refractories Market Share: By Type

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.

Refractories Market Share: By Manufacturing Process Type

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.

Refractories Market Share: By End-User Type

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.

Refractories Market Share: By Region

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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Market Scope & Segmentation

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.

The refractories market is segmented into the following categories. 

Refractories Market Size, Share, & Forecast, by Form Type:

• Bricks & Shapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Monolithic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Refractories Market Size, Share, & Forecast, by Composition Type:

• Clay-based (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Nonclay-based (Regional Analysis: North America, Europe, Asia-Pacific, and RoW) 

Refractories Market Size, Share, & Forecast, by Type:

• Acidic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Basic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Neutral (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Refractories Market Size, Share, & Forecast, by Manufacturing Process Type:

• Dry Press Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fused Cast (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Hand Molded (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Formed (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Unformed (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Refractories Market Size, Share, & Forecast, by End-User Type:

• Iron & Steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Non-metallic Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Non-ferrous Metals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Refractories Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the key players in the refractories market are-

• 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.
• Vesuvius PLC.

Research Methodology

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.

Report Features

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:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the form types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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 sales@stratviewresearch.com.