The global refractories
market is expected to reach USD 29.97 Billion by 2026, according to a
new report by Reports and Data. Increasing demand for the product from the iron
& steel industry is estimated to stimulate market demand in the forecast
period. These are the key materials used by the steel industry in the internal
linings of furnaces for the production of iron and steel, in vessels for
holding and carrying metal and slag, in furnaces for heating steel prior to
further processing, and in the stacks through which hot gases are conducted.
Refractories are also essential for the safe operation of the processes.
Increasing demand for
refractories in cement production is anticipated to fuel product demand in the
upcoming years. Refractories play an instrumental role in both the lining of
the high volume static equipment areas, which includes a modern pre-calciner
kiln system and the rotary kiln lining. The robustness of the rotary kiln brick
lining usually determines the operating duration of a kiln.
Additionally, growing demand for
non-ferrous metals that are used for producing castings for the automotive,
aerospace, construction, medical, and electrical industries are expected to
boost the global product demand.
The laying of stringent
regulations regarding the usage and disposal of the product, owing to the
emission of volatile organic compounds gas may hamper the market growth in the
upcoming years.
Further key findings from
the report suggest
- By form, bricks & shapes contributed to a larger
market share in 2018 and are expected to grow at a rate of 2.8% in the
forecast period. Bricks and shapes allow optimization of physical
properties of the material, and this results in homogeneous lining,
uniform in nature, and extremely reliable. A cost-intensive and
time-consuming aspect of refractory repair is the initial bake-out, where
the application of precast refractory shapes aid to reduce or eliminate
the necessity for an extensive bake-out.
- By chemical composition, neutral type dominated the
market in 2018 and is expected to grow at a rate of 2.9% in the forecast
period. Neutral refractories are chemically stable to both acid and base
attacks and find applications in areas where slag and atmosphere are
either acidic or basic.
To identify the key trends in
the industry, click on the link below:
- The Asia Pacific region dominated the market in 2018
and is projected to grow at the fastest rate of 3.7% in the forecast
period. The dominance of the Asia Pacific region is owing to the rapid
urbanization and industrialization in the developing countries that
resulted in an increase in residential and commercial construction
activities, which has increased the demand for steel and cement and in
turn the product demand.
- Key participants include Imerys, Vesuvius, Krosaki
Harima Corporation, RHI Magnesita GmbH, Saint-Gobain, Corning
Incorporated, Shinagawa Refractories, Coorstek Incorporated, Chosun
Refractories, and Calderys Refractories Limited, among others.
- In February 2018, Imerys, a leading player in the
market, reorganized its Kerneos and Imerys Refractory Minerals businesses
into Imerys Aluminates. Imerys Aluminates is anticipated to generate an
annual turnover of around USD 794.0 Million.
For the purpose of this report,
Reports and Data have segmented the global refractories market on the basis of
chemical composition, form, industry vertical, and region:
Make an Inquiry at: https://www.reportsanddata.com/sample-enquiry-form/417
Chemical Composition Outlook
(Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Basic
- Acidic
- Neutral
Form Outlook (Volume,
Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Bricks & Shapes
- Monolithics & Others
Industry Vertical Outlook
(Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Metallurgy
- Energy & Chemicals
- Glass & Ceramic
- Cement
- Others
No comments:
Post a Comment