Growth of Iron and Steel Industry Stokes Demand for Refractories

San Francisco, California, June 18, 2018 – TMR Research presents a new market study on the global refractories market for the forecast period between 2017 and 2025. The report, titled “Refractories Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”, looks into each and every aspect that could have a bearing on the growth of the said market through 2025.

The primary growth drivers of the refractories market include exponential infrastructure development in various emerging economies, growing demand for quality refractories from steel and iron industries, and significant growth of non-metallic industry.

Refractories are used in structures that are exposed to thermal shock, high temperatures, and chemicals. On the other hand, factors such as rising environmental concerns, high dependency on the steel and iron industry for consistent demand, and monopoly of China for raw materials are hampering the growth of this market.

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Nevertheless, recycling of refractory materials is likely to open new opportunities for vendors in this market. Moreover, the growth of end-use industries of refractories is likely to have a positive impact on the refractories market. The iron and steel and cement industries are gaining because of rapid infrastructural development in emerging economies, whereas non-ferrous, glass, and other end users are reaching new heights too.

In terms of form, the global refractories market could be segmented into shaped and unshaped. By alkalinity, the market can be bifurcated into acidic and neutral and basic. The basic alkalinity segment comprises dolomite and magnetite, whereas acidic and neutral refractories comprise fireclay, carbon, alumina, silica, zirconia, and chromite. Powered by China, Asia Pacific is likely to emerge as a potential region for refractories through 2025.

Leading players operating in the refractories market profiled in the report include Magnesita Refratários S.A., Calderys, Beijing LIRR, Refratechnik, RHI A.G., and Vesuvius plc.