Press release
Refractories Market 2020 by top key players Saint-Gobain, Morgan Advanced Materials, Imerys, Mineral Technologies Inc.
Refractories Market
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.
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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.
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.
Growth Drivers are -
o Steel industry growth in Asia Pacific
o Rising nonmetallic (cement, glass, ceramic) material demand from several industries in APAC
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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.
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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Market Insights
Refractories market is estimated to grow at the growth rate of 4.13% for the forecast period of 2020 to 2027. Demand for electrical, automotive, aerospace, glass, cement industries will drive the growth of the market.
Refractories are heat resistant than other metals, they are used for lining hot surfaces and found inside many industrial processes. They are available in different shapes and sizes, are pressed, molded or produced in interlocking…
