Refractory Equipment Market: Introduction
Refractory equipment, also referred to as the ‘Backbone of Industries’, are used in chemical and heat processing of most of the commodities, such as transport infrastructure, utilities and buildings, etc. Refractory equipment are used to line burners and chimneys to improve their resistance against high temperatures.
Refractory equipment are machines used for lining inner walls of a kiln, boiler, furnace or a reactor with refractory materials having heat resistance properties. Refractory equipment are used for various processes/functions, such as separating, grinding, rolling, mixing and applying refractory materials. Roller and ring mills, grinding mills, lump crushers, shaft mixers, wet/dry mills (edge runner mills), pan mixers, air separators and impact mills are some of the refectory equipment majorly used in steel, oil refining, petroleum, petrochemicals, plaster, cement, concrete pumping and fire proofing industries.
Refractory Equipment Market: Dynamics
Refractory equipment are extensively used in petrochemical, oil and nuclear industries for lining the inner walls of petrochemical containers and nuclear reactors. Hence, expanding industries in such sectors will drive the market of refractory equipment during the forecasted period.
Governments of various countries are collaborating with private investors to build smart cities. Rising investments will propel the demand for construction materials, such as bricks and cements for structural purposes. This in turn, will increase the demand of refractory equipment, such as refractory mixers, within the cement industry.
Ring and Roller Mill Refractory Equipment own a major share of the refractory equipment market. They are the trending equipment as they consumer lesser power and offer increased operational efficiency. This segment will continue to contribute to the growth of Refractory Equipment Market.
Integration of refractory equipment and three-dimensional (3D) technology will be another key factor driving the market of refractory equipment in future as precise pictures can be taken and improved investigation of the inner linings for any failure, uneven thickness or defects can be done through the use of 3D scanners fitted in refractory equipment. Also, 3D technology reduces the turnaround time of projects & aid in quality inspection.
The Refractory market is dependent on raw materials, such as alumina, silica, etc., which is available in abundance and thus, the cost of these refractory materials keep fluctuating. Hence, increasing variable cost becomes a challenge for the refractory material market, which in turn, shrinks the global market growth of the refractory equipment as well.
Refractory Equipment Market: Segmentation
On the Basis of Product type, the Refractory Equipment Market is segmented as follows:
On the Basis of Temperature, the Refractory Equipment Market is segmented as follows:
On the Basis of Refractory material, the Refractory Equipment Market is segmented as follows:
On the Basis of Application, the Refractory Equipment Market is segmented as follows:
Refractory Equipment Market: Regional Outlook
Asia pacific owns a major share in the Refractory Equipment market owing to growing smart cities and oil refinery industry in developing countries, such as China and India. China and India are anticipated to account for maximum energy consumption over the forecast period. The market will continue to maintain its position in the coming years. It will also be home to key manufacturers and suppliers. In North America, the market of Refractory Equipment is expanding due to huge investments and collaborations between the government and private sector. In Europe, the Refractory Equipment market is expected to see sizeable growth due to the implementation of energy efficient programs and legislations.
Refractory Equipment Market: Key Players
Some of the key players identified across the value chain of the Refractory Equipment market are: