MarketResearchReports.Biz announces the addition of a new report to its vast repository of research studies. The report is titled “ Global Refractory Products Market 2015-2019”.
Albany, NY -- (SBWIRE) -- 12/11/2015 -- Refractories are construction materials that act as heat-resistant walls, coatings, or linings to protect units from oxidation, corrosion, erosion, and heat damage. These materials are widely used in the steel, non-ferrous metals, glass, power, cement, petrochemicals, and waste incineration industries. As a result, the refractory products market is expected to multiply and post a CAGR of close to 4% during the forecast period.
As of 2014, APAC, Europe, and the Americas lead the global refractory materials market, with APAC contributing the largest market share of over 70%. This growth in the APAC region is due to high growth in the construction, mining, and manufacturing industries in developing countries, namely, China, India, and Indonesia. The growth in the manufacturing and infrastructure industries have increased the need for iron, steel, and cement production, thus boosting the demand for heat-resistant refractory materials for their construction purposes. In 2014, China accounted for almost 60% of the total cement production, followed by India.
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Segmentation of the refractory products market by form type
Bricks and others
Bricks and other refractory materials dominate the market by form type, accounting for a market share of close to 59% in 2014. The increasing demand for refractory materials in downstream manufacturing, involving processing of materials collected during the upstream stage into a finished product and energy production industries drive the bricks and other refractories market.
Segmentation of the refractory products market by material type
Clay and others
Clay and other refractory material varieties account for over 61% of the market share and is expected to retain its leadership throughout the forecast period. The APAC region holds the largest demand for clay refractories, wherein the high growth is supported by rapid infrastructure and industrial development, especially in China and India.
Refractory products market segmentation by end-user
Iron and steel
Iron and steel is the key end-user industry of refractory products. Refractory materials are used in air and process gas heaters, reformers, and shaft furnaces of the iron and steel industry. Also, the steel industry experiences an increasing demand in future, thereby leading to continuous demand for refractory materials used in its production process.
Competitive landscape and key vendors
The global refractory material market is highly competitive with the presence of well-established international as well as local players. The existence of robust competition coupled with high price sensitivity of buyers limits the growth of the market. Thus, the market growth significantly relies on the development of the steel, cement, automotive, and other metal industries.
The key vendors in this market are -
Other prominent vendors included in this report are Chosun Refractories Co. Ltd., Krosaki Harima Corp., Minteq International Inc., Morgan Advanced Materials plc, OCL India Ltd., Orient Abrasives Ltd., Orind Refractories Ltd., Refratechnik Group, Saint-Gobain SA, and Vesuvius plc.
Key questions answered in the report include
What will the market size and the growth rate be in 2019
What are the key factors driving the global refractory products market
What are the key market trends impacting the growth of the global refractory products market
What are the challenges to market growth
Who are the key vendors in the global refractory products market
What are the market opportunities and threats faced by the vendors in the global refractory products market
What are the trending factors influencing the market shares of the APAC, Europe, the Americas, and ROW
What are the key outcomes of the five forces analysis of the global refractory products market
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