Press release
Refractories Market Demand, Trends, Strategies, Opportunities For 2022-2030
Market SynopsisThe global refractories market is projected to witness healthy growth during the forecast period, 2022-2030. The market was valued at USD 37,020.24 million in 2021 and is projected to register a CAGR of 5.11% to reach USD 57,387.40 million by the end of 2030. In terms of volume, the market was sized at 44,569.24 kilotons in 2021 and is likely to exhibit a CAGR of 3.92% to reach 61,703.35 kilotons by the end of 2030.
Refractories are materials that can withstand high temperature up to 3000°C or more without degrading or softening. Refractories are produced from natural and synthetic materials, usually non-metallic, or combinations of compounds and minerals such as alumina, fireclays, bauxite, chromite, dolomite, magnesite, silicon carbide, and zirconia. They are widely used in heat insulation of furnaces, jet and rocket engines, and parts of space vehicles. Refractories are commonly used to line the insides of pressure vessels, piping, furnaces, flue gas ducting, and other process equipment.
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Competitive Landscape
The competitive landscape offers an analysis of the key developments by the companies operating in the global market in the last years. The global refractories market is projected to register a healthy CAGR during the forecast period. The growth of the global refractories market is attributed to the rising demand for refractories in cement production. The growth of the global construction industry owing to rapid industrialization and urbanization in emerging economies of Asia-Pacific is also expected to drive the growth of the global market. Other factors propelling the demand for refractories are the increasing demand for non-ferrous metals and growing glass production. However, adverse effects associated with exposure to HAPs are likely to hamper the global market growth.
RHI Magnesita GmbH (Austria), Saint-Gobain (France), Vesuvius (England), Morgan Advanced Materials (UK), Shinagawa Refractories Co., Ltd. (Japan), CoorsTek Inc. (US), Krosaki Harima Corporation (Japan), HarbisonWalker International (US), Calderys (France), and Chosun Refractories Eng. Co. Ltd. (South Korea) are the prominent players operating in the global refractories market. The global refractories market is highly fragmented, and the prominent players are expanding their presence to other developing economies such as India, China, and other countries.
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Segmentation
By Alkalinity
• Acidic &Neutral: The acidic refractories are attacked by basic slags. They are used in areas where slag and atmosphere are acidic. Some of the examples of acid refractories include silica, semi-silica, and aluminosilicate refractories. The growth of the segment is attributed to its low cost and ability to resist slag erosion at a high temperature.
• Basic : Basic refractories are those which are attacked by acid slags but stable to alkaline slags. Since they do not react with the alkaline slags, they are used for furnace linings where the environment is alkaline, for instance, in non-ferrous metallurgical operations. The properties of basic refractory include good hydration resistance, vacuum resistance, purifying molten steel function, high thermal expansion rate, high thermal conductivity, and high heat capacity.
By Form
• Shaped : Shaped refractories are known as refractory bricks, which are further divided into two types-standard shapes and special shapes. Shaped refractories are generally machine-pressed and thus offer high uniformity. Special shapes are most often hand-moulded and are expected to exhibit slight variations in properties.
• Unshaped: The unshaped refractories do not have a definite shape and are generally called monolithic refractories. They are categorized as plastic refractories, ramming mixes, castable, gunning mixes, fettling mixes, and mortars. These refractories are loose materials that can be used to form joint-free lining. They are used as a replacement of the traditional brick refractories owing to the advantages of the monolithic linings such as elimination of joints, which may break the brick lining, greater volume stability, better spalling tendency, easier transportation and handling, and requirement of low skilled measures.
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By Application
• Iron & Steel: The declining adoption of steel in end-use industries such as automotive, aerospace, building and construction, and marine owing to its high weight is likely to hamper the growth of the segment. Nevertheless, the use of stainless steel as cutlery material and other kitchen equipment such as chef knives and cast-iron pans is expected to drive the demand for steel, thereby driving the demand for refractories.
• Cement: The interior of the kilns is a critical component in ensuring process efficiency and prolonging the life of a rotary kiln. The rotary kiln is primarily used in the production of Portland cement, which is an excellent building material as it offers superior binding properties and high strength to the structural elements. Portland cement is used either in the form of cement mortar or cement concrete. The rising infrastructural development across the globe is a major factor driving the demand for cement, which in turn drives the growth of the global refractories market.
• Non-Ferrous metals: Refractories are widely used during the production of non-ferrous metals such as aluminum, titanium, magnesium, beryllium, copper, zinc, lead, tin, tungsten, nickel, silver, and platinum. These metals offer excellent mechanical properties and material characteristics and are specifically used for structural applications requiring reduced weight, higher strength, non-magnetic properties, higher melting points, and resistance to chemical and atmospheric corrosion. The extensive use of these metals in the automotive, aerospace, building and construction, electronics, and healthcare industries are fuelling the demand for refractories.
• Glass: Molten glass is highly corrosive, and refractories resist degradation by corrosive gases, liquids, or solids at elevated temperatures. The use of glass in various end-use industries such as building and construction, automotive, and consumer electronics is expected to drive the growth of the global refractories market. The rising disposable income of the consumers has resulted in increased production and sale of glass-based products, which is projected to fuel the demand for refractories.
• Others: The others segment includes chemical, petrochemicals, and power generation. The refractories are used in petrochemical refining to resist chemical attack, withstand molten metal and slag erosion, thermal shock, catalytic heat, and similar adverse conditions. For instance, refractories are used in the fluid catalytic cracking unit due to their abrasion and heat resistant properties.
By Region
• North America: North America Refractories Market currently holds prominent positions in cement and steel productions. The major factors driving this market are the strong growth of iron and steel production as well as the increase in the production of non-ferrous materials.
• Europe: The countries covered in Europe refractories market report are Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Luxemburg, Netherlands, and Rest of Europe.Germany is expected to dominate the market due to increase in prevalence for non-metallic minerals industry and growing infrastructure in the country.
• Asia-Pacific: Factors such as the rapidly increasing consumption of refractories in the iron & steel, power generation cement, and glass industries in countries such as China, Japan, India, South korea and Australia have led to an increased demand for Refractories in the Asia Pacific region.
• Latin America: The increasing demand for travelling requires constant development of roadways and railways. This has also boosted the automotive industry in developing countries. Due to this, it also drives the market growth for the iron & steel, cement and glass industry.
• Middle East & Africa: The countries covered in Middle East and Africa Refractories market report are South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa.South Africa is dominating the refractories market due to the large supply base.
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