Refractories Market by Forecast to 2022 to 2031 with Covid-19 Impact Analysis and Future Business Opportunities

“Increase in infrastructural developments in developing countries such as China, India, and Brazil and high growth rate witnessed by the non-metallic minerals industry is driving the growth of the Global Refractories Market

The global refractories market is projected to reach USD 36.17 billion by 2031, at a CAGR of 3.89% between 2022 and 2031.

By volume, it is projected to reach 56.83 million tons by 2031, at a CAGR of 3.45% between 2022 and 2031. The market is witnessing growth due to high paced infrastructural developments in emerging economies such as China, India, and Brazil and high growth rate witnessed by the non-metallic minerals industry. Growing demand for high-grade refractories from iron & steel industries is also an important factor driving the refractories market. Restrictions on the use of refractories due to growing environment concerns, monopoly of China over raw material supply, and fluctuating iron ore prices are the key factors restraining and challenging the growth of the global refractories market.

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“Unshaped refractories: The fastest-growing segment of refractories market, by form”

Unshaped refractories is estimated to be the fastest-growing form segment during the forecast period (2022-2031). The rapid growth of unshaped refractories segment is attributed to the continuous R&D activities taking place in this segment. Moreover, availability of unshaped refractories in different compositions according to the requirements of different end-use industries makes it the most preferred and fastest growing form segment of refractories.

“Acidic & Neutral refractories: The fastest-growing segment of refractories market, by alkalinity”

The acidic & neutral refractories segment is estimated to be the fastest-growing segment, by alkalinity during the forecast period. Their low cost and ability to withstand high temperatures with super quality thermal shock resistance boosts the growth of this segment. Owing to the growing automotive and construction industries, the demand for acidic & neutral refractories is also expected to escalate during the forecast period.

“Glass: The fastest-growing segment of refractories market, by end-use industry”

Glass is projected to be the fastest-growing application segment of the global refractories market, by end-use industry during the forecast period. Extensive use of refractories such as high-purity alumina and zirconia based refractory materials in the glass industry, especially in furnaces, is estimated to drive its market. The increasing use of high-quality glass in residential and commercial construction especially in Asia-Pacific region and high growth rate witnessed by automotive industries in countries such as Germany, the U.S., Japan, and China is expected to drive the glass industry worldwide.

“Asia-Pacific: The fastest-growing market for refractories, by region”

The Asia-Pacific region is the fastest-growing market for refractories, in terms of both value and volume during the forecast period. Massive economic expansion in some of the Asia-Pacific countries, such as China and India, increase in infrastructural development due to escalating population, and growing urbanization and industrialization are boosting refractory consumption across the region.

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This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.

• By Company Type: Tier 1 – 45%, Tier 2 – 22%, and Tier 3 – 33%

• By Designation: C Level – 50%, Director Level – 10%, and Others – 40%

• By Region: Western Europe – 33%, North America – 17%, Asia-Pacific – 17%, Middle East & Africa – 25%, and South America – 8%

The report also provides company profiles and competitive strategies adopted by the major market players, such as RHI AG (Austria), Saint-Gobain S.A. (France), Vesuvius Plc. (U.K.), Morgan Advanced Materials Plc. (U.K.), Shinagawa Refractories Co., Ltd. (Japan) Corning Incorporated (U.S.), Coorstek Incorporated (U.S.), Magnesita Refratarios S.A (Brazil), Krosaki Harima Corporation (Japan), and HarbisonWalker International Inc. (U.S.), among others.

Research Coverage:

The report covers refractories market and its use across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as form, alkalinity, and end-use industry. The report also includes an in-depth competitive analysis of the key market players along with their company profiles, DIVE (Dynamics, Innovators, Vanguards and Emerging) analysis, recent developments, and key growth strategies.

Reasons to buy this report:

From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the refractories market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on refractories offered by the top players in the global refractories market

• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global refractories market

• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for refractories across regions

• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global refractories market

• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global refractories market

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:Lauren Brown

Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 50 50509159

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