Refractories Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH2789 | Last Updated On: Jul 28 2022 | Available Formats

> Global Refractories Market Expected to reach a high CAGR of 3.6% during the forecast period 2022-2029: DataM Intelligence

Global Refractories Market is segmented By Type (Clay, Non-Clay (Silica brick, Chromites refractories, High alumina refractories, Magnetite refractories, Zirconium refractories, Graphite refractories, Borides refractories, Calcium refractories, Others), Others), By Alkalinity (Acidic & Neutral Refractories, Basic Refractories), By Manufacturing Process (Fused Cast, Sintering process, Hand Molded, Dry Press Process, Formed, Unformed), By Fusion Temperature (Normal Refractory (1580-1780 °C), High Refractory (1780-2000 °C), Super Refractory (>2000 °C)), By Form (Shaped, Unshaped), By End-user (Steel and Iron, Automotive, Aerospace, Power Generation, Cement industries, Glass industries, Non-Ferrous Metals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Refractories Market is expected to grow at a high CAGR of 3.6% during the forecasting period (2022-2029).

Refractories are used in modern manufacturing processes made from ceramic materials to withstand very high temperatures refractories are made from several inorganic, nonmetallic, porous and heterogeneous materials such as silicon, aluminium, magnesium, calcium, zirconium, non-oxide like nitrides, borides, carbides, silicates and graphite. Refractories can sustain extremely high temperatures due to their heat-resistant properties. Refractoriness is used in several industries including automotive, steel & iron plants, manufacturing plants, metal industries and others.

 

Market Dynamics

The global refractories market growth is driven by rising demand and production of steel & iron with the surge in infrastructure development investments around the globe. Further high demand of the refractories in the construction, automotive, electronics, aerospace and among industries as it can withstand high temperature

Growing demand for steel & iron with the surge in infrastructure development investments around the globe

Refractories are widely used in the production of the steel and iron industries due to their properties such as high stability of composed oxides, providing improved castability, optimum desulphurisation and deoxidation of steel, high heat resistance hence can withstand high temperature for producing steel. Steel demand has shown immense growth in the automotive and construction industries. As per the World Steel Organization in 2019, globally the crude steel production reached around 1,869.9 million tonnes (Mt) increased by 3.4% compared to 2018. It created a massive demand for the refractories market used in the production of steel and iron.

Growing construction, chemical, automotive, electronics, aerospace and other industries

Further growing sale of automotive vehicles also propels the refractories market growth. According to the International Organization of Motor Vehicle Manufacturers (OICA), the light commercial vehicle production reached around 518,442 units and passenger vehicles reached 3,672,749 units around the globe. It created a massive demand for refractories used in the manufacturing of automobiles.

Launch of new low carbon emission refractories by the leading players and surge in the expansion of production capacity

Several leading industries are launching and expanding the low carbon emission based refractories for steel and automotive production may create a huge opportunity for the growth of this market. For instance, on 12th October 2020, RHI Magnesita has launched Ankral Low Carbon brick refractories with a 14% reduced carbon dioxide (CO2) refractory brick. Ankral Low carbon bricks extracted from dead burned magnesia (DBM) source refractory bricks.

Growing concern regarding the emission of volatile organic compounds (VOCs) and side-effects on the health and environment

United Nations Environmental Protection Agency has set National Emissions Standards for Hazardous Air Pollutants (NESHAP) emitted by the refractories products. The rule includes protecting air quality and promoting public health by reducing emissions of several hazardous air pollutants, including formaldehyde, hydrogen fluoride (HF), hydrochloric acid (HCl), ethylene glycol, methanol, polycyclic organic matter (POM) and phenol. The rule regulates emissions control from the manufacturing processes of both the clay and non-clay refractories.

COVID-19 Impact Analysis

The global refractories market declined during the COVID-19 pandemic, as several manufacturing industries were in the lockdown state in several countries. However, the demand has slightly increased in July 2020 as several countries began their production of steel, automobile, aerospace, chemical and consumer electronics industries as these industries require refractories in huge amounts.

Several leading players have cancelled or postponed future deals, mergers, acquisitions and partnership activities due to the downfall of demand which lead to bankruptcy. According to the Society of Indian Automobile Manufacturers (SIAM), commercial vehicles sales decreased by 88% in India and passenger vehicle sales declined by 51% in India in March 2020 which subsequently hampered the growth of the refractories market.

Segment Analysis

The global refractories market is segmented based on type, alkalinity, manufacturing process, end-user and region.

Rising steel production due to surge in the global construction industry demand have propelled the silica bricks segmental growth

Based on type, the global refractories market is segmented into clay and non-clay (silica brick, chromites refractories, high alumina refractories, magnetite refractories, zirconium refractories, graphite refractories, borides refractories, calcium refractories and others). Among these, silica brick refractories has the highest share owing to their usage in the production of crude steel due to their high heat resistant properties which can withstand high temperature up to around 1100 degree Celcius. Further increasing steel production due to increasing construction industry around the globe. For instance, in 2017 global the steel industry has sold around US$2.5 trillion worth of products related to steel. It created a massive demand for silica bricks for steel production.

Further, clay, chromites refractories, high alumina refractories, magnetite refractories, zirconium refractories, graphite refractories, borides refractories, calcium refractories are also growing at a faster pace with a surge in the demand by the end-user industries such as automotive, chemical, construction and among others.

Several leading manufacturers expanding the production capacity to fulfil the requirement by the end-user industries. For instance, on 21st Sept 2020, Dalmia Group’s subsidiary Dalmia OCL refractory manufacturing arm has opened a manufacturing facility of Magnesia Carbon refractory bricks with 1.08 lakh tonne brownfield capacity in Rajgangpur, Odisha, India to fulfil the local requirement of the refractories.

Acidic & Neutral Refractories segment accounted for the largest share

Based on alkalinity, the global refractories market is segmented into acidic & neutral refractories and basic refractories. Among these acidic & neutral refractories has the highest share in 2020, this is primarily due to increasing demand for the refractories and rising demand in the metallurgical, glassmaking and ceramic industries for processing the materials at high temperatures with the surge in the industrializations.

Similarly, Basic Refractories are also growing at a faster pace owing to the surge in their properties such as excellent chemical resistance to basic slags and fluxes, high-temperature sustainability as well as a high melting point up to around 2800 ◦C.

 

Based on form, the global refractories market is divided into shaped and unshaped. Among this shaped segment has the highest market owing to rising demand by the construction industry with the surge in the government investments all over the world.

Similarly, the unshaped segment is also growing at the fastest speed owing to rising demand by the several manufacturing industries of the automotive and electronic sectors.

fused cast segment is expected to hold the largest market share

By manufacturing process, the refractories market is segmented into the fused cast, sintering process, hand-moulded, dry press process, formed and unformed. Among this fused cast has the highest share in 2019, this is primarily due to its properties like great corrosion resistance to melts such as glass and molten metal oxides, compact structure and closed pores using an electric arc furnace to melt the refractory raw into sand-forming moulds.

 

Rising utilization of refractories for the engineering and construction sector with the surge in the steel production

By end-user, the market is segmented into automotive, aerospace, power generation, cement industries, glass industries, and non-ferrous metals. Among these, steel and iron have the highest share in 2019, this is primarily due to the rising production of steel due to rising demand by the construction industry.

According to the Weforum Organization, the construction industry accounted for 6% of the global GDP with total annual revenues of reached to around US$10 trillion in 2016 adding a value of around US$ 3.6 trillion annually. Further Engineering & Construction sector is the largest consumer of raw materials and around 50% of global steel production which requires more than 3 billion tonnes of raw materials in 2016.

Geographical Analysis

Asia-Pacific region holds the largest market share of the global refractories market

Asia-Pacific region is dominating the global Refractories market and accounted for the largest market share in 2019, due to growing building and constructions, increasing government policies to help the growth of industry, fund schemes, presence of several manufacturing industries, MSME & skill development programs in this region followed by North America and Europe.

Asia-Pacific region is the largest manufacturer of automotive vehicles and has the highest share due to rising population demand. According to International Energy Agency in 2018, around 45% of all-electric cars globally are being sold and produced in China which totalled around 2.3 million around the globe. It created a massive demand for the refractories used in the manufacturing of the automotive components in this industry.

Similarly, North America is the fastest-growing region for the growth of the Refractories market, this is primarily due to rising construction sector development and investments by the leading companies. According to the Census Government Organization in the United States, private sector construction spending reached around US$ 1,061.4 billion annually which propels the demand for the refractories market in this industry.

Competitive Landscape

The refractories market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Refratechnik Holdings GmbH, Shinagawa refractories Co. Ltd, Krosaki Harima Corporation, Seven Refractories, RHI Magnesita, Vesuvius PLC, Imerys, Chosun Refractories, Saint-Gobain, Morgan Advanced Materials, CoorsTek Incorporated, HarbisonWalker International, Resco Products, IFGL Refractories Ltd, Magnezit Group, Mineral Technologies Inc and among others.

Morgan Advanced Materials

Overview: Morgan Advanced Materials, founded in 1856 with headquartered in Windsor, Berkshire, United States. Morgan Advanced Materials is one of the global leaders in the designing of assemblies, components, and systems using advanced proprietary materials which can deliver the significantly enhanced performance of the products.

The company thrives on innovative products across a diverse range of sectors such as technical ceramics, thermal ceramics, molten metal systems, linear transfer systems, thermal engineering, fire protection, braze alloys, electrical carbon, speciality graphite and mechanical carbon. The Company has more than 9,000 employees across 50 countries, equipped with the tools and practical experience necessary to become the next generation of business leaders.

Product Portfolio: The Company has a diverse product portfolio that includes fire protection, brazed assemblies, electronics, energy, healthcare, industrial, petrochemical, security & defence, transportation, molten metal systems, braze alloys, thermal ceramics, technical ceramics, electrical transfer, engineered ceramics, high-temperature insulation, seals & bearings, speciality graphite, and electrical carbon

 Refractories include:

  • Monolithic Refractory Solutions: Monolithic insulating products are made from alumina silicate and silicon carbide with graded cement and binders. Formulations available include low cement, medium cement, aluminium resistant, clay bonded, phosphate bonded, dry vibratory and special formulations for custom applications. Features: Excellent resistance to thermal shock, mechanical impact and molten metals.
  • Fired Refractory Shapes and Crucibles: Fired Refractories includes crucibles, distribution boxes, hot top boxes, tubes, nozzles and shapes for a variety of critical duties in a vacuum induction melting and other heat-intensive applications greater than 1649°C (3000°F). The product named as Cerox, Morsil and Valcor.

Key Developments: On 27th Jan 2016, Morgan Advanced Materials developed Fully Stabilized Zirconia Products which can deliver optimum performance up to 2,000ºC. It possesses high resistance to the acids, alkalis, and caustic chemicals used in chemical processing applications.

Merger and Acquisitions: In June 2020, Morgan Advanced Materials completed the acquisition of Carbo San Luis which supported the company to grow its network in Argentina, Chile and Peru.

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