Refractories Market 2019 to 2025, key industry players & growth trends
Based on manufacturing
process, refractories market is segmented into dry press process, fused cast,
hand molded, formed, unformed. The dry press process segment was worth USD 7.5
Billion in 2018. This process is usually suitable for formation of simple solid
shapes. They are generally suited for clays with very low plasticity. As dry
press process is simple and requires low capital equipment costs, they are
widely used for high volume forming process for ceramics.
Based on end-user,
refractories market is segmented into iron & steel, non-metallic materials,
non-ferrous metals and others. The non-ferrous metals segment was worth USD 2.8
Billion in 2018. Middle East & Africa is estimated to grow at 3.6% by 2025.
Growing political stability along with massive infrastructure spending in the
Middle East & Africa will play a constructive role for the growth of steel
industry. This will have a positive impact on the overall refractories market.
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Refractories Market is poised
to surpass USD 41 billion by 2025; according to a new research report by Global
Market Insights, Inc. Refractories are materials which are composed from
thermally stable minerals and a binder phase. They are heterogenous and porous
in nature and can withstand extreme temperature in excess of 1,5000C, without
undergoing any structural changes while maintaining contact with molten slag
and metals.
Refractories are extensively
used for industrial processes, where they perform various functions such as a
barrier for molten slag and the containing medium. They provide physical
protection and reduce erosion of surface by keeping the medium circulated. They
prevent chemical corrosion and ensure heat retention.
Steel demand in China, which
accounts for around 45% of global steel demand, showed significant growth in
2016. In the ASEAN (Association of Southeast Asian Nations) region, steel
demand during 2017 recorded slight growth in steel production. Thailand and
Vietnam accounts for about 54% of steel demand in ASEAN. Growth in
infrastructure sector is likely to rise in Indonesia, the Philippines and
Vietnam due to state funded infrastructure projects. With growing
infrastructure industry, the demand for refractories will also grow due to
their indispensable usage in iron & steel furnace.
Emission of particulate matter
and volatile organic compounds have detrimental effect on health. This will
slow down the growth for refractories market size for the projected time
period. However, product recovery cyclone followed by wet scrubbers can
effectively limit the emission of particulate matter in the environment. Along
with this use of fabric filter and baghouses to control VOCs emission will
boost the refractories market for refractories.
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Monolithic refractories market
is expected to witness gain of 3.9% by 2025. Monolithic are generally called
unformed refractories which includes mortars, gunning mixes, castable
(refractory concrete), ramming mixes, and plastics. These products are cured in
place to form a monolithic, internal structure after application. They are
generally used in cement, glass and ceramic industries.
Based on composition,
refractories market is segmented into clay-based and nonclay-based. The market
size for nonclay-based refractories was over USD 14 billion in 2018. Nonclay
based refractories are starting material which includes carbonates or oxides of
metals such as zirconium, aluminum and magnesium. They are mostly produced as
brick and pressed shapes, though some magnesite-chrome and alumina materials
are fuse-cast into molds.
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Based on type, refractories
market is segmented into acidic, basic, and neutral. The basic segment for
refractories is anticipated to gain more than 3.5% by 2025. Basic refractories
are harmed by acidic slags, but are stable to dusts, fumes, and alkaline slags
at an elevated temperature. They are stable with alkaline slags and thus are
preferred for furnace linings in alkaline environment.
Some of the key players in
refractories market are RHI Magnesita, Krosaki Harima Corporation, Vesuvius
PLC, Shinagawa refractories Co., Ltd., Saint-Gobain, Morgan Advanced Materials,
CoorsTek Inc., HarbisonWalker International, Imerys, etc.
About Global Market Insights:
Global Market Insights, Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
service provider; offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research
reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Refractories Market 2019 to 2025, key industry players & growth trends
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July 08, 2019
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