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

The market is segmented by Product Type (Non-clay Refractory and Clay Refractory), End-user Industry (Iron & Steel, Energy & Chemicals, Non-ferrous Metals, Cement, Ceramic, Glass, and Other End-user Industries), and Geography.

Market Snapshot

CAGR (new format
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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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.

Scope of the Report

The refractories market report includes:

Product Type
Non-clay Refractory
Magnesite Brick
Zirconia Brick
Silica Brick
Chromite Brick
Others
Clay Refractory
High Alumina
Fireclay
Insulating
End-user Industry
Iron & Steel
Energy & Chemicals
Non-ferrous Metals
Cement
Ceramic
Glass
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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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.
Segmentation (ne

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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.

Regional (new fo

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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.

Major Players

  1. Imerys
  2. SHINAGAWA REFRACTORIES CO. LTD
  3. Vesuvius
  4. Krosaki Harima Corporation
  5. RHI Magnesita GmbH

* Complete list of players covered available in the table of contents below

Market concentra

Download the market shares of key players in this industry.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Strong Growth of Iron and Steel Production in the Emerging Countries

      2. 4.1.2 Increase in the Production of Non-ferrous Materials

      3. 4.1.3 High Demand from the Glass Industry

    2. 4.2 Restraints

      1. 4.2.1 Environmental Concerns, and Health and Safety Issues

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Non-clay Refractory

        1. 5.1.1.1 Magnesite Brick

        2. 5.1.1.2 Zirconia Brick

        3. 5.1.1.3 Silica Brick

        4. 5.1.1.4 Chromite Brick

        5. 5.1.1.5 Others

      2. 5.1.2 Clay Refractory

        1. 5.1.2.1 High Alumina

        2. 5.1.2.2 Fireclay

        3. 5.1.2.3 Insulating

    2. 5.2 End-user Industry

      1. 5.2.1 Iron & Steel

      2. 5.2.2 Energy & Chemicals

      3. 5.2.3 Non-ferrous Metals

      4. 5.2.4 Cement

      5. 5.2.5 Ceramic

      6. 5.2.6 Glass

      7. 5.2.7 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Chosun Refractories Co. Ltd

      2. 6.4.2 Harbisonwalker International

      3. 6.4.3 IFGL Refractories Ltd

      4. 6.4.4 Imerys Group

      5. 6.4.5 Krosaki Harima Corporation

      6. 6.4.6 Magnezit Group

      7. 6.4.7 Minerals Technologies Inc.

      8. 6.4.8 Morgan Advanced Materials

      9. 6.4.9 Refratechnik

      10. 6.4.10 Resco Products Inc.

      11. 6.4.11 RHI Magnesita

      12. 6.4.12 Shinagawa Refractories Co. Ltd

      13. 6.4.13 Vesuvius

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growth Potential of the Indian Steel Industry

    2. 7.2 Other Opportunities

**Subject to Availability

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