Refractories Market Scope
Refractory is the material which is resistant to decomposition by heat, pressure, or chemical attack, and retains strength and form at high temperatures. They are inorganic, nonmetallic, porous, and heterogeneous. The materials are typically composed of oxides of the materials such as silicon, aluminum, magnesium, calcium, and zirconium. According to American Society of Testing and Materials, refectories consist of physical and chemical properties which make them applicable for structures or components of system. They are used in furnaces, kilns, incinerators, and reactors. In addition they are also used for making crucibles and molds for casting glass and metals and for surfacing flame deflector systems for rocket launch structures
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Refractories market throughout the predicted period.
RHI Magnesita (Austria), Vesuvius (United Kingdom), Krosaki Harima (Japan), Shinagawa Refractories (Japan), Saint-Gobain (France), Corning Incorporated (United States), Morgan Advanced Materials (United Kingdom), CoorsTek, Inc. (United States), HarbisonWalker International, Inc. (United States) and IMERYS (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Chosun Refractories (South Korea), Puyang Refractories (China), IFGL Refractories (India), Resco Products, Inc. (United States) and Refractechnik Holding GmbH (Germany).
Segmentation Overview
The study have segmented the market of Global Refractories market and Region with country level break-up.
On the basis of geography, the market of Refractories has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Demand of Energy Efficient Technique in Steel Making
Market Growth Drivers:
Rising Infrastructural Developments in Developing Economies and Growing Iron and Steel Industry across the World
Challenges:
Emission of Volatile Organic Compounds may hamper the Market
Restraints:
Environmental Concerns and Health and Safety Issues
Opportunities:
Recycling of Refractories Materials is Boosting the Market and Increasing Growth Rate of Non-Metallic Material Industry
Market Leaders and their Expansionary Development Strategies
August 2018, Saint- Gobain has acquired German company HKO Group which provides a complete range of very high temperature thermal insulation and fire protection solutions. With this acquisition, Saint Gobain entered the high temperature thermal insulation markets.
In August 2018, Harbison Walker International has inaugurated its new manufacturing plant in South Point, Ohio. This plant is especially dedicated to the manufacturing of monolithic refractories.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.