Refractories Market Revenue to Cross US$ US$ 41.10 Bn by 2026 end at a CAGR of 4.2%

Refractories Market 2022

In terms of value, the global refractories market is expected to reach to US$ 41.10n by 2026 end, exhibiting a CAGR of 4.2% over the forecast period.

Global sale of refractories was pegged at 30,674.3 KT in 2017. In terms of volume, the global refractories market is projected to reach 43,676.9 KT by the end of 2026, expanding at a volume CAGR of 4.1% over the forecast period (2018-2026).

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Persistence Market Research delivers key insights on the global refractories market in its latest publication. The long-term outlook on the global refractories market remains positive, with market value expected to increase at a CAGR of 4.2% over the forecast period (2018 - 2026). Among product forms, the monolithic & other unshaped segment is expected to expand at a higher CAGR in terms of value over the forecast period.

Key Companies-

• RHI Magnesita
• Krosaki Harima Corporation
• Compagnie de Saint-Gobain S.A.
• Shinagawa Refractories
• Calderys Refractories Limited
• Morgan Advanced Materials plc
• Minerals Technologies Inc.
• Qinghua Refractories
• HarbisonWalker International
• IFGL Refractories Limited
• Chosun Refractories ENG Co., Ltd.
• Magnezit Group
• Refratechnik Holding GmbH
• Carboundum Universal Limited
• Sibelco
• Vesuvius plc
• Others.

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Market Dynamics

• The global refractories market is greatly influenced by the use of refractories in a diverse range of industries involved in the manufacture of steel, cement, nonferrous metals, glass and others. The steel segment accounts for a high market share in terms of value as compared to other end-use industries, on account of the higher demand in terms of volume for refractory products.

• Moreover, growth in the steel and cement industries is expected to influence the refractories market positively, marking high market shares of the applications, although the growth rate for the glass segment is the highest. The developments in various end-use industries are expected to create strong growth opportunities for the refractories market.

• Geographical expansions in new regions in the form of creating sales & distribution networks and establishing local manufacturing infrastructure could provide stability as well as growth opportunities for manufacturers in terms of revenue generation.

• However, the global refractories market is expected to face some challenges. Factors such as high dependency of refractory manufacturers across the globe on raw material imports from China, and the subsequently volatile scenario of the Chinese refractory raw material producing industry could adversely impact the operations of refractory producers, thereby restricting revenue growth of the global refractories market.

Segmentation Analysis

• The refractories market is segmented on the basis of product form, such as monolithic & other unshaped, and bricks & other shapes. It is also segmented on the basis of refractory mineral used, such as bauxite, alumina, kaolin, magnesia, graphite & zircon. It is further segmented on the basis of end-use industry, such as steel, cement, nonferrous metals, glass and others.

• On the basis of refractory mineral, bauxite is anticipated to continue to dominate the market in terms of value over the forecast period. Magnesia is estimated to grow at a CAGR of 5.7% over the forecast period and is expected to represent total incremental opportunity of US$ 277.9 Mn between 2018 and 2026

• The glass segment by end-use industry is projected to grow at a CAGR of 5.1% in terms of value. The steel segment is anticipated to continue its dominance in the global market in terms of value over the forecast period

Key geographies evaluated in this report are:

• North America - U.S, Canada
• Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
• APAC - China, India, Japan, Australia, Others
• Latin America - Argentina, Brazil, Others

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Key Questions Answered in Refractories Market Report -

• What will the Refractories Market growth rate in Future?
• What are the key factors driving the global Refractories Market?
• Who are the key manufacturers in Refractories Market space?
• What are the opportunities and threats faced by the vendors in the global Refractories industry?
• What are sales, revenue, and price analysis by regions of Refractories industry?

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