Report updated on 11th September, 2021: Global Refractories Market 2021 (Includes Business Impact of COVID-19)
Global Refractories Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global refractories market report has been segmented on the basis of form, alkalinity, end-use industry, and region.
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The global Refractories market size was valued at USD$18.55 billion in 2020 and is projected to reach USD $26.81 billion by 2030, and is anticipated to expand at a CAGR of 2.47% over the forecast period from 2020 to 2030.
Global Refractories Market: Overview
Refractories or refractory materials are porous, nonmetallic, inorganic, and heterogeneous materials, or combination of minerals and compounds such as bauxite, alumina, zirconia, silicon carbide, chromite, dolomite, magnesite, and fireclays. Refractories have ability to retain its chemical identity and physical shape when subjected to elevated temperatures and are resistant to corrosion, heat, and pressure. Refractories are classified as acidic refractories, basic refractories, and neutral refractories based on chemical composition. Refractory materials are used to make moulds and crucibles for casting of metals, glass, and in rocket launch structures for flame deflector systems. In addition,these materials are used in kilns, furnaces, boilers, reactors, incinerators, and others.
Global Refractories Market: Dynamics
Rising demand for refractories of high grade from iron & steel industry owing to increase the production rate is a major factor expected to drive growth of the global refractories market. Increasing adoption of the end products in various applications such construction, automotive, and others in developed and developing economies, which in turn support growth of the refractories market to a certain extent. Moreover, rising demand for refractories in various end-use industries owing to its physical, chemical, and thermal properties is another factor anticipated to support revenue growth of the refractories market over the long run.
However, stringent regulations pertaining to environmental concerns is a factor which may hamper growth of the target market over the years. In addition, high cost of raw materials is expected to be another factor restraining growth of the potential market.
Increasing number of R&D activities and production facilities of various end-use industries are expected to create lucrative opportunities for the prominent players, which in turn expected to support revenue growth of the target market in the next coming years.
Global Refractories Market: Segment Analysis
On the basis of form, the unshaped refractories segment is estimated to account for major revenue share contribution in the target market. Among alkalinity, basic refractories segment is projected to register for considerable share in terms of revenue in the target market. Among end-use industry, the iron & steel segment is anticipated to register significant revenue share and is projected to witness fastest growth in the potential market in the next coming years.
Global Refractories Market: Regional Analysis
Asia Pacific refractories market is estimated to account for highest revenue share and is expected to dominate the global refractories market over the forecast period. Increasing use of refractories in production and research & development facilities of various industries such as iron & steel, glass, cement, and others, is among some other factors expected to fuel growth of the Asia Pacific refractories market. The market in Asia Pacific is projected to register fastest growth rate in the target market, owing to growing demand for refractories in end use industries such as construction, automotive, industrial, and others. Europe refractories market is expected to register for moderate share in the target market, followed by the market in North America.
Global Refractories Market Segmentation:
Segmentation on the Basis of Form:
- Shaped Refractories
- Unshaped Refractories
Segmentation on the Basis of Alkalinity:
- Acidic & Neutral Refractories
- Basic Refractories
Segmentation on the Basis of End-use Industry:
- Iron & Steel
- Power Generation
- Non-ferrous Metal
- Cement
- Glass
- Others (Chemical and Aerospace)
Key Market Players included in the report:
- Allied Mineral Products Inc.
- Almatis Gmbh
- ALTEO
- AluChem
- CerCo Corporation
- Coorstek
- HARBISONWALKER INTERNATIONAL
- IFGL Refractories Ltd.
- Krosaki Harima Corporation
- Lhoist,
- Magnesita Refratarios S.A.
- Magnezit Group
- Minerals Technologies Inc.
- Morgan Advanced Materials
- Puyang Refractories Group Co.,Ltd
- Refratechnic
- RHI Magnesita GmbH
- Saint-Gobain S.A.
- SHINAGAWA REFRACTORIES CO.,LTD.
- TYK CORPORATION
- Vesuvius Plc.
- Wuxi Nanfang Refractories Co.,Ltd.
Below are the key development related to Refractories Market in 2020 and 2021.
July 2021: RHI Magnesita and Calix Limited sign agreement to advance carbon emissions reduction in the refractory industry. RHI Magnesita, a global supplier of high-grade refractory products, systems and solutions, has announced that it has executed a Memorandum of Understanding with Australian technology company Calix Limited. The MOU covers the development of a Calix Flash Calciner for use in the production of refractory materials, which will enable CO2 separation for either utilisation or storage.
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July 2021: Calix (ASX:CXL) and RHI Magnesita sign MOU for carbon dioxide reduction. Calix (CXL) and global refractory company, RHI Magnesita, sign a memorandum of understanding (MoU)
The companies will develop Calixs technology to produce refractory materials thatll enable carbon dioxide separation either for use or storage. Separation, storage or reuse of carbon dioxide is an important part of decarbonising the refractory industry. Calix and RHI will also undertake studies, including basic front-end engineering and design for a commercial-scale demonstration facility
Calix ended the day 6.54 per cent in the green to close at $2.77. Calix (CXL) and RHI Magnesita have signed a memorandum of understanding (MoU) to develop a commercial-scale demonstration facility.
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March 2021: Refratechnik and HOganAs Borgestad start strategic agreement for supply of refractory products to Nordic countries. Germany/Sweden: Refratechnik Group and Sweden-based HOganAs Borgestad Group have started a strategic agreement for the supply of refractory products to customers in Nordic countries. HOganAs Borgestad customers will now have direct access to the product range and application knowledge of the Refratechnik Group.
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January 2021: Fosbel acquires Wahl Refractory Solutions LLC. Fosbel has acquired Wahl Refractory Solutions LLC. Wahl Refractory Solutions, Fremont, Ohio, will now conduct business under the name Wahl Refractory Solutions, a Fosbel company. The integration of Fosbel and Wahl Refractory secures a future of continued growth through strengthened products and services to a broader customer base. By making a commitment to ensure Wahl’s continuing business under the Fosbel umbrella, capital investments are being made at Wahl’s manufacturing plant. Fosbel will utilise Wahls manufacturing and production capabilities, which will result in shortened supply chains and increased inventory capacities. This will result in improved products and services for Wahl and Fosbel customers.
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January 2020: Imerys seeks to reduce raw materials costs with Hysil acquisition. France-based Imerys has announced the acquisition of calcium silicate producer Hysil by its subsidiary Calderys Indian Refractories from CK Birla Group for Euro10.1m. SeeNews has reported that the expansion to Imerys’ Indian operations is aimed at securing lower prices for raw materials for use in high temperature insulation in various industries, especially the cement sector.
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