Global Refractory Equipment Market 2017-2021
About Refractory Equipment
Refractory equipment refers to a machine that is used for lining the inner walls of a furnace, boiler, reactor, or kiln with heat-resistant refractory materials. This refractory equipment also performs functions such as grinding, mixing, rolling, separating, as well as applying the refractory material. The refractory equipment market comprises ring and roller mills, impact mills, and air separators, which find their major applications in the petroleum and petrochemical, cement, oil refining, plaster, fire proofing, concrete pumping, and steel industries.
Technavio’s analysts forecast the global refractory equipment market to grow at a CAGR of 4% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global refractory equipment market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Refractory Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global refractory equipment market: EZG Manufacturing, Hilman Rollers, NAO, Thermal Specialities, and WARE.
Other Prominent Vendors in the market are: Airplaco Equipment Company, BLASTCRETE EQUIPMENT COMPANY, Bricking Solutions, C&C Boiler Sales & Service, Davis Fabricators, Dewcon Instruments, Empire Refractory Sales, Han-Tek, HPC Manufacturing, MSE Supplies, Onex, REED, Refractories West, Refractory Anchors (RAI), RFI CONSTRUCTION PRODUCTS, Selas Heat Technology Company, and Walker Equipment Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is integration of IIoT. The industrial Internet of Things (IIoT) is transforming the way machines are manufactured, designed, connected, and optimized. The advent of IIoT has brought together innumerable industrial equipment, production facilities, plants, and machines, with a network consisting of high-speed routers, gateways, and switches and the cloud, which holds the software and analytics to arrive at decisions using data from the Internet-enabled devices.”
According to the report, one driver in the market is increasing demand for energy. Rising population and rapid urbanization are primarily responsible for the increasing energy demand globally. As per the EIA's estimates, global energy consumption is expected to grow by 48% during 2012-2040. Most of this growth will be from non-OECD Asia, where the demand for energy is driven by strong economic growth. India and China will account for more than half of the world's total increase in energy consumption during the forecast period.
Further, the report states that one challenge in the market is increase in variable costs. An industry grows successfully when its investments are in control and less than its generated revenue. The abundant availability of raw materials and low-cost labor are the key factors for the success of any manufacturing industry. The global refractory material market is highly dependent on raw materials such as silica, alumina, chromium, and steel. The prices of these raw materials keep fluctuating, thus having a negative impact on the market. This negative effect has in turn, an adverse impact on the global refractory equipment market as well.
EZG Manufacturing, Hilman Rollers, NAO, Thermal Specialities, and WARE, Airplaco Equipment Company, BLASTCRETE EQUIPMENT COMPANY, Bricking Solutions, C&C Boiler Sales & Service, Davis Fabricators, Dewcon Instruments, Empire Refractory Sales, Han-Tek, HPC Manufacturing, MSE Supplies, Onex, REED, Refractories West, Refractory Anchors (RAI), RFI CONSTRUCTION PRODUCTS, Selas Heat Technology Company, and Walker Equipment Company.