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Refractories Market - Segmented by Product Type, End-User, and Geography - Growth, Trends and Forecast (2018 - 2023)

Refractories Market - Segmented by Product Type, End-User, and Geography - Growth, Trends and Forecast (2018 - 2023)

The global refractories market was estimated at USD 35,849.68 million in 2017. The market is expected to register a CAGR of 5.21% during the forecast period (2018 - 2023). Iron & steel dominated the global refractories market with a global market share of approximately 70%, while other end-user industries are also estimated to register the fastest CAGR through the forecast period.

Increasing Construction in Emerging Markets

Construction sector in Asia-Pacific is the largest in the world. The increase in infrastructure construction activities is the primary driver for the Asia-Pacific construction industry. In addition, the emergence of major construction players from the EU into this lucrative market in countries, like China, has further fueled the industry’s growth. Due to their business potential, countries, such as Indonesia, China, Malaysia, Singapore, and South Korea, have become hosts to numerous national and international events. The move has accelerated the demand for hotels, shopping malls, high-rise buildings, arenas, and stadiums (both outdoor and indoor), thereby, boosting the construction industry in the respective regions. In addition, the ongoing construction activities in Russia for FIFA 2018 and the construction projects taking place in the GCC region (accounting for about USD 2 trillion) positively impact the global market.

Magnesite refractories are known for their excellent resistance to basic slags (high in case of iron-rich and lime-rich slags) despite their poor physical properties. Magnesite refractory bricks are used in many forms, e.g. magnesite brick, burned magnesite brick, fused magnesite brick, etc. It is also used in combination with many materials, such as magnesite alumina brick, magnesite alumina spinel brick, and various others. Increasing number of applications and the recovering steel industry are fueling the demand for magnesite refractories. This demand is projected to grow at an average rate during the forecast period.

Asia-Pacific Dominates the Market

Asia-Pacific has the highest share in the market, accounting for nearly 59% of the global market share in 2017. The Asia-Pacific market is primarily driven by the increasing construction activities coupled with supportive government regulations. In recent years, the construction industry has seen a significantly large growth. The growing population has resulted in an increased need for houses, schools, and hospitals in the region, therefore, the demand for refractories is expected to rise from the cement and iron & steel industries. The large consumer base and the cheaper manufacturing costs in the Asia-Pacific region are drawing in high FDIs, with India and China being the major players.

China is the Largest Consumer

The Chinese construction market is the largest in the world and is demonstrating a slower growth rate of 10.16% in comparison to 2015. The minimum growth rates of the construction and automotive sectors have adversely impacted the market for refractories. However, with the increasing crude steel production in the country, the demand for refractories is expected to rise during the forecast period. The rise in the government investments in the transport, infrastructure, & water conversation sector is expected to maintain the growth rates of the construction sector in the country. In addition, the approval of “Green Building Evaluation Standard” by the government shall boost the green building market, thereby, benefitting the market for refractories.

Key Developments in the Market

- December 2017- A memorandum of cooperation was signed between Magnesite Group, Mitsui Bussan Metals Co. Ltd and Mitsui & Co. Ltd for the production and supply of high quality fused periclase.

Major Players -RHI, Imerys, Vesuvius, Krosaki, and Shinagawa among others.

Reasons to Purchase this Report

- Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
- Analyze the various market perspectives with the help of Porter’s five forces analysis
- Regions or countries that are expected to witness the fastest growth during the forecast period
- Product segment, which is expected to dominate the market over the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
- 3 months analyst support, along with the Market Estimation sheet (in Excel)

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1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Regulations & Policies
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Drivers
4.1.1 Strong Iron & Steel Production in Asia-Pacific
4.1.2 Increase in the Production of Non-ferrous Materials
4.1.3 Increasing Construction Activities in Emerging Markets
4.1.4 High Demand from the Glass Industry
4.2 Restraints
4.2.1 Environmental Concerns and Health & Safety Issues
4.3 Opportunity
4.3.1 Growth Potential of the Indian Steel Industry
4.3.2 Other Opportunities
5. Market Segmentation and Analysis(Market Size, Growth, and Forecast)
5.1 By Product Type
5.1.1 Non-clay Refractory
5.1.1.1 Magnesite Bricks
5.1.1.2 Zirconia Bricks
5.1.1.3 Silica Bricks
5.1.1.4 Chromite Bricks
5.1.1.5 Others
5.1.2 Clay Refractory
5.1.2.1 High Alumina
5.1.2.2 Fireclay
5.1.2.3 Insulating
5.2 By End-user Industry
5.2.1 Iron & Steel
5.2.2 Energy & Chemicals
5.2.3 Non-ferrous Metal
5.2.4 Cement
5.2.5 Ceramics
5.2.6 Glass
5.2.7 Others
6. Regional Market Analysis(Market Size, Growth, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
9.1 Chosun Refractories Co., Ltd
9.2 Harbisonwalker International
9.3 IFGL Refractories Ltd.
9.4 Imerys Group
9.5 Krosaki Harima Corporation
9.6 Magnezit Group
9.7 Minerals Technologies Inc.
9.8 Morgan Advanced Materials
9.9 Refratechnik
9.10 Resco Products Inc.
9.11 RHI Magnesita
9.12 Shinagawa Refractories Co., Ltd.
9.13 Vesuvius
*List not exhaustive
10. Disclaimer
**Subject to availability on public domain

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