Refractories Market: Latest Industry Trends and Forecast Analysis

Market Scenario
Globally, the market for Refractories is growing at a CAGR of 4.02% during forecasted period (2016-2022). Refectories is a material that is heat resistant, it provides linings for the heat temperature furnace, reactors and other processing units. Refractories are made of natural and manmade materials, usually nonmetallic or combinations of other compound and minerals.
Refractories material which can resist high temperature without undergoing physical and chemical changes while remaining in contact with molten slag, metal and gases. It is necessary to produce range of refractory materials with different properties to meet range of processing conditions. The refractory range incorporates fired, chemically and carbon bonded materials that are made in different combinations and shapes for diversified applications
Application sector is segmented into steel, cement, glass, non-ferrous and others. The steel industry is the largest application of refractories globally. Refractories has the characteristics which are lightweight, high temperature sustainability, and robustness, therefore they are ideal for linings and insulation of the high temperature furnaces used in steel industry. In-addition, the increasing infrastructure and construction activities in the developing economies such as India, Brazil, Mexico, Russia, and other economies worldwide are contributing abundantly to the steel consumption and henceforth increasing refractories usage.

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Study Objective of Refractories Market
• To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Global Refractories Market.
• To provide insights about factors affecting the market growth.
• To Analyze the Refractories Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment by type, by applications and sub-segments.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Refractories market.

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Key Players:
The key players in market includes:
• Magnesita Refratarios S.A.
• Saint-Gobain S.A
• RHI AG
• Shinagawa Refractories Co. Ltd
• Krosaki Harima Corporation
• Corning Incorporated, Vesuvius PLC
• Harbisonwalker International (HWI) Inc
• Coorstek Incorporated
• Morgan Advanced Materials PLC

Competitive Analysis:
The major players of the market have certain challenges such as various companies do not have their manufacturing located where the region is growing the most in order to prevent this the major players are expanding their business with a focus on growing region. Due to high price raw material the competitors are facing certain challenges various companies are focusing in house supply of raw materials in order to reduce the burden of high cost of raw materials.

Intended Audience
• Manufacturers and distributors of Refractories
• Suppliers and traders of Refractories
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts.

Regional Analysis of Refractories Market:
Geographically, Asia Pacific dominates the market segment followed by Europe and North America.
Asia-Pacific region represents largest market share in the global refractories market. Rise in population drives construction industry which further drives the refractories market in emerging economies. In North America, U.S market is largest consumer of refractories over the forecasted period. Growing production of steel and cement in U.S especially for construction purpose across the globe has increased the need of refractories. After recovery from recession companies are focusing more on profits by reducing material composites of high prices. These has boosted therefractories market growth in U.S.

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Akash Anand,
Market Research Future
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