Refractories Market is expected to grow at a CAGR of 4.02% during forecast period

MRFR Press Release/- Market Research Future Published a Half Cooked Research “Global Refractories Market Research Report – Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.

RHI AG (Austria), Saint Gobain SA (France), Orient Refractories Ltd. (India), Morgan Refractories Materials plc (U.K), Corning Incorporated (U.S.), Magnesita Refratarios S.A (Brazil), Krosaki Harima Corporation (Japan), Calderys SA, Wugang Refractory Company Limited and HarbisonWalker International Inc. (U.S.)., Tata refractories Ltd.

Refractories Market – Market Overview
Global Refractories Market demand is witnessing a steady growth owing to rising demand of high performance refractories along with the increasing production of steel, cement, and glass materials across the globe. All the high temperature indutry the prominenent end-use industries of the refractories include, iron & steel, nonferrous metals, and non-metallic minerals namely, glass & ceramic. Among the aforementioned types, steel & iron is the most dominating end-use industry accounting for more than 70% of the overall consumption in 2016. The global steel production has reduced significantly which has hampered the global refractory consumption across the globe.

However, growth in other end-use industries namely, ceramic, lime, glass has balanced the overall market comnsumptuion. Moreover, the growing Construction Industry across the globe has led to significant growth in demand for Glass and Ceramic Industry. Also, glass industry is the most promising end use industry for the refractory manufacturers. This in turn is expected to positively infuence the global refractory consumption.

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Unshaped refractory product type of the Refractory Market is expected to witness higher growth rates in near future. This is due to the availability of the unshaped refractories according to the requirements of end-use industries. As unshaped refractories are able to fullfil the range of processing conditions from the end use industries, the leading manufacturers in the refractory market are actively spending in R&D of the unshaped refractories.

Geographically, Asia-Pacific is estimated to be the fastest growing region with China being the top producer & consumer of refractories in global market. China is followed by India as the second largest refractory consumer in Asia-Pacific. The increasing production of automotive & construction industries, and ease of availibility of raw materials are the factors facilitiitng production & consumption of refractories in China.

Refractories Market – Competitive Analysis
The Global Refractories Market is dominated by Chinese manufacturers. The chinese manufacturers are benefitted by easy avalibility of raw materials and proximity to market. As the demand for high performance high quality products in growing in the market, leading manufactures are investing in research & development to offer high quality and application specific products to the end-users. Moreover manufacturers are focusing on technological advancements, in order to remain cost competitieve in the global market. In addition to this, with the competition in the market the manufacturers are focusing on securing the constant supply of the raw materials. Thus manufactuerrs are consolidating with the raw material suppliers.

Industry/ Innovation/ Related News
Nov 2017: RHI Magnesita acquired & owned 100% shares of the Agelis AB. By this move, the company extended ints product range for ferrous & non-ferrous end-use industries. The development is expected to help compnay to improve the product quality, increase production efficiency, and increase safety for the refractory production. This was an high step towards technology advancemnet by RHI Magnesita.

Oct 2017: RHI AG & Magnesita enetered into an agreement to merge their business to form a leading supplier of high performance refractories. The combined company will be named as RHI Magnesita. With this dvelopment, the company aoimed at vertical integration of refractory industry in order to exist across value chain from raw materials to end products.

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Oct 2017: Calderys UK Ltd, a European refractory producer acquired N.G. Johnson Northern Ltd. N. G. Johnson is a n refractory installation, engineering services company. This is another development in the global market that highlights the trend of increasing focus towards technological advancemnet and efficient installations by the manufacturers.

Oct 2017: Allied Minerals Products Inc., an U.S. based global monolithic refractory manufacturer has announced acqusition of Riverside Refractories Inc. The company aims to extend its product portfolio of the advanced refractories. The company will supply products of Riverside Refracrories Inc. to the entire U.S. and global markets.

Feb 2015: Magnezit Group enetered into a cooperation agreement with Vamtec S.A. vamtec S.A. is a producer and trader of the refractory product of for various end use industries. The agreement includes program for development of the new product for metallurgical industry. This is another developmentb of the market towards qualitative enhancemnet.

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