Global Market Study on Refractories: Monolithics & Other Unshaped to Remain Most Attractive Product Form Through 2026


Refractories  Market
  • Published On : Jun-2018 |
  • Pages : 238 Pages |
  • Format :

The Persistence Market Research report examines the global refractories market for the forecast period 2018–2026. The prime purpose of the report is to find opportunities and trends in the market and provide insights pertaining to segments of the global refractories market.

To understand the opportunities and trends in this market, the report is categorically divided into four sections on the basis of product form, refractory mineral, end-use industry and regions. The report analyzes the global refractories market in terms of value (US$) and volume (KT).

There has been an increasing demand from the steel industry at a global level, which has been driving the demand for refractories for various applications. There has been a rise in capital spending in the infrastructure, mining & metallurgy, steel, cement and other industrial sectors. Also, investments in major steel projects are expected to continue in developing countries in the near future, along with investments in the refractory products needed to serve these sectors. These factors are expected to drive the demand for refractories through 2026.

The global refractories market is expected to witness an attractive revenue growth over the forecast period. The global refractories market is booming due to significant applications in the steel, cement, nonferrous metals, glass and other industries. The diverse and large number of applications of different types of refractories have been the key to the growth of the global refractories market. As a result, major players in refractories have been focusing on strengthening their sales & distribution network across geographies to expand their business, and to cater to the rising product demand. However, 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. Manufacturers have also been preferring to grow inorganically through strategic acquisitions to gain competitive advantage.

The report starts with market overview and provides market definition and analysis about drivers, restraints, and key trends. The section that follows includes analysis of the global refractories market by product form, refractory mineral, end-use industry and regions. The four sections evaluate the global refractories market on the basis of various factors covering present scenario and future prospectus. The report also provides data of local and international companies, and key developments within the refractories industry.

The global refractories market is segmented as follows:

  • By Product Form
  • By Refractory Mineral
  • By End Use Industry
  • By Region

   On the basis of product form, the global refractories market is segmented into:

  • Monolithic & Other Unshaped
  • Bricks & Other Shapes

On the basis of refractory mineral, the global refractories market is segmented into:

  • Bauxite
  • Alumina
  • Kaolin
  • Magnesia
  • Graphite
  • Zircon

On the basis of end-use industry, the global refractories market is segmented into:

  • Steel
  • Cement
  • Nonferrous Metals
  • Glass
  • Others

Regions covered in the report are as follows:

  • North America
  • Latin America
  • Europe
  • China
  • India
  • Japan
  • South East Asia & Pacific (SEA & Pacific)
  • Middle East & Africa (MEA)

Examples of some of the key players included in this study on the global refractories manufacturers are Vesuvius plc, RHI Magnesita, Krosaki Harima Corporation, Chosun Refractories ENG Co., Ltd., Calderys Refractories Limited, Compagnie  de Saint-Gobain S.A., Refratechnik Holding GmbH, etc.

Our Research Methodology

The market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analyzed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of different products are deduced on the basis of different products, where the average price of each product is inferred across all the eight assessed regions. The market value of the global refractories market is thus calculated from the data provided by the average selling price and market volume.

For the 8-year forecast of the global refractories market, various macroeconomic factors and changing trends have been observed, giving an idea about future of the market. Other important factors considered to arrive at market forecast are the size of the current market, inputs from the demand side and the supply side and other dynamics shaping the scenario of the market.

In the compilation of the report, the forecast is conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the client with crystal clear insights and future opportunities as far as the global refractories market is concerned.

The 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). In terms of value, the global refractories market is expected to reach to US$ 41,102.9 Mn by 2026 end, exhibiting a CAGR of 4.2% over the forecast period. India is expected to exhibit promising growth in the global refractories market, registering a CAGR of 5.4% over the forecast period. Driven by sales growth of refractories across various applications, the India market is expected to witness a sustainable growth rate over the coming years.

Refractories applications have been witnessing considerable demand in Asian countries, such as China, Japan, India, Korea and ASEAN. The demand is fueled by rising capital investments in setting up of large-scale projects in the infrastructure, steel, mining (impacting metallurgy sector) and cement sectors and subsequent development of distribution & sales network of refractories in the region. Besides, large scale investments in other industries such as glass is also expected to drive the demand for refractories through 2026.

Refractories have been finding significant applications in the manufacturing processes for steel, iron, nonferrous metals, glass, cement and other industries. China and Europe are important regions in terms of the relevant end-use industries at a global level and these regional markets are expected to grow further in the near future, which in turn is expected to create significant opportunities for growth of the regional refractories market over the forecast period.

However, high dependency of refractory manufacturers across the globe on raw material imports from China is expected to pose a challenge to growth of the global refractories market.

refractories market

Performance Analysis of Segments

On the basis of product form, the refractories market is segmented into monolithic & other unshaped, and the bricks & other shapes segments. Both the segments are projected to account for an almost equal share of the global refractories market through 2026. The growth of the monolithic & other unshaped segment is estimated to remain relatively higher though, over the forecast period, and is expected to account for approximately 50.2% of the total market share in terms of volume by 2026. Expanding at a healthy growth rate, the monolithic & other unshaped segment is expected to create significant growth opportunities over the coming years.

Among the refractory mineral used, the bauxite segment is expected to consistently represent a dominant share over the forecast period. By value, it is expected to reach a market value of about US$ 30,031.7 Mn by the end of 2026. The demand for alumina refractory mineral type is also expected to remain high across different regions. The magnesia segment is estimated to exhibit a significant growth rate throughout the forecast period.

Market Analysis of Key Segments by End-use Industry

Steel: Expanding at a CAGR of 4.6% over the forecast period, the segment is expected to create an incremental $ opportunity of US$ 9,064.8 Mn by 2026 end.

Cement: This segment is expected to reach a market value of US$ 4,045.4 Mn by 2026 end, expanding at a CAGR of 3.1%.

Glass: This segment is expected to grow at a CAGR of 5.1% between 2018 and 2026.

Leading Players Dominating the Global Refractories Market

The report highlights some of the key companies operating in the global refractories market such as Vesuvius plc, RHI Magnesita, Krosaki Harima Corporation, Chosun Refractories ENG Co., Ltd., Calderys Refractories Limited, Compagnie de Saint-Gobain S.A., and Refratechnik Holding GmbH, among others. The key market players are focusing on strengthening their sales & distribution network in the refractories market. Some of the market players are also focusing on inorganic growth strategies such as strategic acquisitions supported by organic growth strategies such as manufacturing capacity expansions across regions to augment volume sales globally & cater to the local demand as well.

Company Profiles

  • 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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