Global Refractories Market to Surpass $ 41 Bn by 2025

January 31, 2020


As per the report titled ‘Refractories Market Size By Form (Bricks & Shapes, Monolithic), By Composition (Clay-based, Nonclay-based), By Type (Acidic, Basic, Neutral), By Manufacturing Process (Dry Press Process, Fused Cast, Hand Molded, Formed, Unformed), By End-user (Iron & Steel, Non-metallic Materials, Non-ferrous Metals), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Turkey, China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Qatar, Iran), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2025’, available with Market Study Report LLC, the global refractories market is expected to cross USD 41 billion by the year 2025.
 

Refractories are materials which retain their shape and chemical properties when subjected to extreme temperature. They are used as furnace lining and for applications which require high heat resistance. Refractories are widely adopted in the cement industry as they held to improve production capacity and speed. Rising infrastructure development and numerous construction activities, especially across Asian countries are positively influencing the growth of refractories market.
 

On the downside, refractories production results in emission of respirable crystalline silica (RCS) dust which increases the risk of silicosis. It leads to difficulty in breathing and may cause lung infection. However, adoption of fabric filters and baghouse will reduce exposure of RCS and help negate silicosis, which in turn will propel the growth of refractories market.
 

Based on composition, non-clay refractories market segment is projected to grow by 4% through the year 2025. These refractories produced from oxides and carbonates of metals and are available in pressed shapes or bricks form.
 

Based on type, refractories market is segmented into neutral, acidic, and basic. As per the report, acidic refractories market segment is set to witness a growth rate of 3% by the year 2025, owing to their use in acidic environment and acidic slag conditions.  
 

Speaking of the manufacturing process, hand molded refractories segment was worth over USD 1.5 billion in 2018 and is expected to witness a steady growth during the analysis period. Handmade refractories do not have smooth surface as compared to the machine made ones.
 

As per the end-use spectrum, refractories market from non-ferrous metals segment is expected to register 3.9% growth by the year 2025, owing to increasing use of refractories for the production of non-ferrous metals like copper and aluminum.  
 

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Considering the geographical outlook, Europe refractories market is slated to grow by 2.5% during 2019-2025. The growth can be attributed to the modest demand from non-metallic industries across the region. Booming industries like aerospace, automotive, and solar panels will fuel the demand for lime, glass, and cement, which will further boost the Europe market.  
 

Key players operating in the refractories market are HarbisonWalker International, Imerys, RHI Magnesita, Vesuvius PLC, Morgan Advanced Materials, CoorsTek, Inc., Resco Products, Krosaki Harima Corp., Seven Refractories, and IFGL refractories Ltd. among others.


Frequently Asked Questions (FAQ) :

Refractories are materials which retain their shape and chemical properties when subjected to extreme temperature. They are used as furnace lining and for applications which require high heat resistance. Refractories are widely adopted in the cement industry as they held to improve production capacity and speed. Rising infrastructure development and numerous construction activities, especially across Asian countries are positively influencing the growth of refractories market.
Non-clay refractories market segment is projected to grow by 4% through the year 2025. These refractories produced from oxides and carbonates of metals and are available in pressed shapes or bricks form.
Europe refractories market is slated to grow by 2.5% during 2019-2025. The growth can be attributed to the modest demand from non-metallic industries across the region. Booming industries like aerospace, automotive, and solar panels will fuel the demand for lime, glass, and cement, which will further boost the Europe market.
The key players operating in the refractories market include HarbisonWalker International, Imerys, RHI Magnesita, Vesuvius PLC, Morgan Advanced Materials, CoorsTek, Inc., Resco Products, Krosaki Harima Corp., Seven Refractories, and IFGL refractories Ltd. among others.