HOME › Press Releases › Refractories Market worth 33.7 Billion USD by 2020
Refractories Market worth 33.7 Billion USD by 2020
The report "Refractories Market by Type (Shaped and Unshaped Refractories), by Chemical Composition (Acidic & Neutral and Basic Refractories), by End-Use Industry (Iron & Steel, Cement, Glass, Non-Ferrous Metals), by Region - Trends & Forecasts to 2020", the global refractories market is projected to reach USD 33.7 Billion by 2020. This growth is fueled by the high potential from non-metallic minerals industry, increasing global demand for high grades of refractories, and increasing infrastructure development in emerging economies.
Browse 81 market data tables with 60 figures spread through 155 pages and in-depth TOC on "Refractories Market by Type (Shaped and Unshaped Refractories), by Chemical Composition (Acidic & Neutral and Basic Refractories), by End-Use Industry (Iron & Steel, Cement, Glass, Non-Ferrous Metals), by Region - Trends & Forecasts to 2020"
Early buyers will receive 10% customization on reports.
The Global Refractories Market is projected to reach USD 33.7 Billion by 2020, registering a CAGR of 3.9% between 2015 and 2020.
Shaped refractories: The largest form of refractories
Owing to the ability to withstand high temperatures, high mechanical strength, high abrasion resistance, and sensible porosity, shaped refractories are used in various industries, majorly in glass, iron & steel, and cement industries. The major applications of these refractories are, as linings in high temperature furnaces, boilers, nuclear reactors, cement kilns, and rotators used in various manufacturing industries such as iron & steel, glass, cement and many more among others, which are expected to drive the market. The growing infrastructural development all across the globe is expected to significantly boost the consumption of shaped refractories in coming future.
Iron & Steel: The largest end-use industry for refractories
The iron & steel industry is the largest end-use industry of refractories globally. As refractories are characterized with lightweight, high temperature sustainability, and robustness, therefore they are ideal for linings and insulation of the high temperature furnaces used in iron & steel industry. Additionally, 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.
Asia-Pacific: The largest market for refractories
Asia-Pacific is the global forerunner in refractories market, in terms of value and volume, and the trend is expected to continue till 2020. The countries in this region such as China and India are the fastest-growing markets for refractories, due to significantly increasing usage of refractories in iron & steel, cement, glass, non-ferrous metals, and other industries. South East Asia, with countries including Indonesia, Malaysia, Thailand, and Vietnam, is also a rapidly growing market for refractories. This growth is mainly due to the increasing demand for cement, iron & steel, cement and glass mainly in construction, automotive and other manufacturing sectors in Asia-Pacific.
Major players such as Corning Incorporated (U.S.), CoorsTek Incorporated (U.S.), Magnesita Refratarios S.A (Brazil), Morgan Advanced Materials Plc (U.K.), RHI AG (Austria), Saint-Gobain S.A. (France), Shinagawa Refractories Co. Ltd (Japan), and Vesuvius Plc. (U.K.) have been profiled in the research report.
This report covers the market by value and volume for refractories and forecasts the market size till 2020. The report includes the market segmentation by form, by chemical composition, by application, and by region. It also includes company profiles and competitive strategies adopted by the major market players in the global refractories market.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India