Increasing preference for more energy-efficient approaches in production of steel is a key factor driving market revenue growth.
Market Size - USD 24.71 Billion in 2020, Market Growth - CAGR of 3.1%, Market Trends - Rising focus on research and development of manufacturing process to reduce VOC emissions
The global refractories market size is expected to reach USD 31.77 Billion in 2028, and register a CAGR of 3.1% during the forecast period. Increasing adoption of refractories in various rapidly growing industries including iron & steel, glass, aerospace, automotive, cement, etc. globally.
However, manufacturing process of refractories results in emission of Particulate Matter (PM), as well as various hazardous gases including nitrogen oxides, sulfur dioxide, carbon monoxide and carbon dioxide, fluorides, etc., which could restrain adoption of refractories among end users, and hamper market growth to some extent.
Major players operating in the global market are investing in R&D of innovative and cost-effective products to stay ahead of the competition. In addition, companies are engaging in strategic activities such as mergers & acquisitions, product developments, partnerships, business expansions to expand customer base and generate higher revenue.
Some Key Findings From the Report:
For the purpose of this report, the global refractories market has been segmented on the basis of chemical composition, form, industry vertical, and region:
Chemical Composition Outlook
Form Outlook
Industry Vertical Outlook
Region Outlook
Reasons to Buy the Report
Market Size - USD 24.71 Billion in 2020, Market Growth - CAGR of 3.1%, Market Trends - Rising focus on research and development of manufacturing process to reduce VOC emissions
The global refractories market size is expected to reach USD 31.77 Billion in 2028, and register a CAGR of 3.1% during the forecast period. Increasing adoption of refractories in various rapidly growing industries including iron & steel, glass, aerospace, automotive, cement, etc. globally.
However, manufacturing process of refractories results in emission of Particulate Matter (PM), as well as various hazardous gases including nitrogen oxides, sulfur dioxide, carbon monoxide and carbon dioxide, fluorides, etc., which could restrain adoption of refractories among end users, and hamper market growth to some extent.
Major players operating in the global market are investing in R&D of innovative and cost-effective products to stay ahead of the competition. In addition, companies are engaging in strategic activities such as mergers & acquisitions, product developments, partnerships, business expansions to expand customer base and generate higher revenue.
Some Key Findings From the Report:
- Among the chemical composition segments, the basic type segment accounted for substantially large revenue share in 2020. The acidic segment is expected to register a robust revenue CAGR during the forecast period.
- Among the form segments, the monolithics segment is expected to register the highest revenue growth rate over the forecast period, due to increasing consumption of monolithic over other conventional brick products because of various product benefits offered such as excellent spalling tendency, volume stability, elimination of joints, easy transportation & handling, and no requirement of skilled work force.
- Asia Pacific refractories market accounted for major revenue share in 2020, due to growing consumption of refractories in various industries including power and utility, iron & steel, cement, glass, etc., in countries in the region.
- The North America market is expected to register a robust revenue CAGR during the forecast period. Europe market accounted for considerable revenue share and is expected to register relatively steady revenue growth rate during the forecast period.
- Major companies profiled in the report include Imerys, Vesuvius, Krosaki Harima Corporation, RHI Magnesita GmbH, Saint-Gobain, Corning Incorporated, Shinagawa Refractories, Coorstek Incorporated, Chosun Refractories, and Calderys Refractories Limited.
For the purpose of this report, the global refractories market has been segmented on the basis of chemical composition, form, industry vertical, and region:
Chemical Composition Outlook
- Basic
- Acidic
- Neutral
Form Outlook
- Bricks & Shapes
- Monolithics
- Others
Industry Vertical Outlook
- Metallurgy
- Energy & Chemicals
- Glass & Ceramic
- Cement
- Others
Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Refractories Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in Refractories Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Refractories Segmentation & Impact Analysis
Chapter 5. Refractories Market By Chemical Composition Insights & Trends
Chapter 6. Refractories Market By Form Insights & Trends
Chapter 7. Refractories Market By Industry Vertical Insights & Trends
Chapter 8. Refractories Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Imerys
- Vesuvius
- Krosaki Harima Corporation
- RHI Magnesita GmbH
- Saint-Gobain
- Corning Incorporated
- Shinagawa Refractories
- Coorstek Incorporated
- Chosun Refractories
- Calderys Refractories Limited.
