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Refractories Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4703418
  • Report
  • 135 pages
  • Mordor Intelligence
until Jul 01st 2019
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  • IFGL Refractories Ltd
  • Imerys Group
  • Magnezit Group
  • Morgan Advanced Materials
  • Refratechnik
  • Resco Products Inc.
  • MORE
Market Overview

The market for refractories is anticipated to register a CAGR of 4.94% during the forecast period (2019-2024). The growing production of non-ferrous materials, increasing construction activities in emerging markets, and demand coming from the glass industry are the factors driving the market growth.
  • Emerging countries, like China, Russia, Mexico, and South Africa, are investing heavily in large-scale infrastructure projects, which are expected to significantly boost the growth of the iron and steel industry.
  • The increasing environmental awareness, government agencies, and environmental agencies, across the world, are laying down the guidelines regarding the usage and disposal of refractories. This is likely to hinder the market growth.
Key Market Trends

Increasing Demand from the Iron & Steel Industry
  • The iron and steel industry is the major end-user sector of refractories, which accounts for more than 70% of the market. These materials can withstand high temperatures, ranging from 260°C (500°F) to 1850°C (3400°F), without any major change in their physical properties.
  • The major applications of refractories in the iron and steel industry include usage in internal linings of furnaces to make iron and steel, in furnaces for heating steel before further processing, in vessels for holding and transporting metal and slag, in the flues or stacks through which hot gases are conducted, and others.
  • In terms of consumption, Asia-Pacific is currently the largest consumer of refractories in the iron and steel industry, followed by Europe and North America. In North America, the United States is expected to witness the highest growth rate in the consumption of refractories in this industry, during the forecast period.
  • In the European Union, a mild recovery in the demand for steel continues, while improving the economic sentiments and investment conditions. However, uncertainties in the political landscape, related to the refugee crisis and Brexit, are some of the risks to the economic condition. The demand for steel in the region is anticipated to grow at a slow pace, over the forecast period.
  • All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market

China dominates the refractories market in terms of consumption and production, due to the local availability of raw materials, such as magnesite and alumni. Additionally, they are available at cheaper costs, as compared to other producers. The iron and steel industry consumes the largest portion of refractories, globally, as well as in China. Industrial restructuring and the decreased consumption rate of refractories for per ton of steel have impacted the demand for refractories in China, between 2013-2015. However, the steady growth in the production of iron and steel in the country has been driving the growth of the refractories market, in the recent times. Owing to the encouraging government initiatives and a vast consumer base, the chemical manufacturing sector in China is expected to increase at a consistent rate, during the forecast period. The increasing production of chemicals is expected to create an opportunity for the growth of the refractories market in the country, in the near future.

Competitive Landscape

The refractories market is highly fragmented, with the top five players accounting for less than 25% of the market. Key players in the refractories market include Chosun Refractories Co. Ltd, IFGL Refractories Ltd, Imerys, Magnezit Group, Refratechnik, Resco Products Inc., Shinagawa Refractories Co. Ltd, and Morgan Advanced Materials, among others.

As part of this package, any purchases made up to 30th June will receive the following:

1) Free update of the report in 6 months on request 

2) Free Market Estimate sheet excel data sheet
Note: Product cover images may vary from those shown
2 of 5


  • IFGL Refractories Ltd
  • Imerys Group
  • Magnezit Group
  • Morgan Advanced Materials
  • Refratechnik
  • Resco Products Inc.
  • MORE
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study



4.1 Drivers
4.1.1 Strong Growth of Iron and Steel Production in the Emerging Countries
4.1.2 Increase in the Production of Non-ferrous Materials
4.1.3 High Demand from the Glass Industry
4.2 Restraints
4.2.1 Environmental Concerns, and Health and Safety Issues
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5.1 Product Type
5.1.1 Non-clay Refractory Magnesite Brick Zirconia Brick Silica Brick Chromite Brick Others
5.1.2 Clay Refractory High Alumina Fireclay Insulating
5.2 End-user Industry
5.2.1 Iron & Steel
5.2.2 Energy & Chemicals
5.2.3 Non-ferrous Metals
5.2.4 Cement
5.2.5 Ceramic
5.2.6 Glass
5.2.7 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Chosun Refractories Co. Ltd
6.4.2 Harbisonwalker International
6.4.3 IFGL Refractories Ltd
6.4.4 Imerys Group
6.4.5 Krosaki Harima Corporation
6.4.6 Magnezit Group
6.4.7 Minerals Technologies Inc.
6.4.8 Morgan Advanced Materials
6.4.9 Refratechnik
6.4.10 Resco Products Inc.
6.4.11 RHI Magnesita
6.4.12 Shinagawa Refractories Co. Ltd
6.4.13 Vesuvius

7.1 Growth Potential of the Indian Steel Industry
7.2 Other Opportunities
Note: Product cover images may vary from those shown
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4 of 5
  • Chosun Refractories Co. Ltd
  • Harbisonwalker International
  • IFGL Refractories Ltd
  • Imerys Group
  • Krosaki Harima Corporation
  • Magnezit Group
  • Minerals Technologies Inc.
  • Morgan Advanced Materials
  • Refratechnik
  • Resco Products Inc.
  • RHI Magnesita
  • Shinagawa Refractories Co. Ltd
  • Vesuvius
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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