Refractories Market to grow at 4% CAGR by 2025 | Key players RHI Magnesita, Krosaki Harima Corporation, Vesuvius PLC, Shinagawa refractories Co. Ltd., Saint-Gobain, Morgan Advanced Materials

European refractories market will see a growth more than 2.5% till 2025. This is due to moderate growth in non-metallic industry in the region which will boost demand for glass, cement and lime from several end-users such as automotive, aerospace, solar panels, etc.

End-user for refractories market is divided into non-ferrous metals, non-metallic, iron & steel and others. Refractories for non-ferrous metals are anticipated to gain more than 3.9% by 2025. Non-ferrous metals usually include aluminum and copper which require large quantity of refractory materials for its production.

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Refractories are materials that maintains its shape & chemical identity when subjected to extreme temperature and is used for applications requiring high resistance to heat, such as furnace lining. Cement industry utilizes approximately 15% of global refractories production. Refractories performance is the most crucial parameters in cement industry due to its impact on production capacity & speed.

In Asian countries, government are focusing on infrastructure and are investing significant sums into fixed assets such as roads, ports, airports, energy and power. On the other hand, the outlook for property and commercial real estate is slightly positive. A healthy spread of construction related projects is supporting the stability in Asia Pacific.

For instance, Thailand has recently launched 2016-2020 infrastructure plan which will benefit from stable government as well as high public and private sector participation in the region. The nation is projected to see the highest increase in constructional spending in ASEAN over the next few years which is expected to reach USD 58.5 billion by 2025.

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Refractories production produces silica dust known as respirable crystalline silica (RCS). RCS is responsible for the risk of developing silicosis. This disease makes breathing more difficult and the risk of lung infection is high. However, use of fabric filters and baghouse can limit the exposure of RCS and can minimize the risk of developing lung infection.

Refractories market is classified into monolithic, brick & shapes and others. Other refractories products is expected to gain close to 3% by 2025. Other refractory products include ceramic fibers and refractories raw materials used for manufacturing refractories inhouse. Ceramic fibers are lightweight, has high temperature stability and are thermal shock resistant.

Refractories market is segmented into non-clay and clay based refractories. The market for non-clay refractories is expected to gain more than 4% by 2025. Non-clay based refractory is usually produced as pressed shape or bricks. However, in some case alumina and magnesite-chrome materials fused into molds. Raw materials used for producing non-clay based refractories are carbonates and oxides of metals such as zirconium or magnesium.

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Refractories market is segmented into neutral, basic and acidic based on type. The acidic refractories is anticipated to gain more than 3% by 2025. Acidic refractories are attacked by basic slag. They are preferred where slag and atmosphere is acidic.

According to manufacturing process, refractories market is divided into formed, dry press process, fused cast, hand molded, formed and unformed. In terms of revenue, hand molded refractories was valued over USD 1.5 billion in 2018. These refractories are handmade due to which they do not have smooth surface as compared to machine made refractories.

Some of the key players in refractories market are Imerys, HarbisonWalker International, RHI Magnesita, Morgan Advanced Materials, Vesuvius PLC, CoorsTek Inc., Krosaki Harima Corp., Resco Products, IFGL refractories ltd., Seven Refractories, etc.

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