Rising demand for high- performance refractory products

GLOBAL REFRACTORY

PRODUCTS MARKET

GROWTH MOMENTUM OF REFRACTORY PRODUCTS MARKET TO INCREASE

Refractories are materials that are resistant to extremely high temperatures and are therefore used as protective and insulation products in high-temperature processes and industries. 

Global refractory products market is expected to grow to 49.32 MMT by 2022

The global refractory products market is expected to grow at a CAGR of more than 3% through 2022.

The global iron and steel industry accounts as the most significant consumer of refractory products, and therefore, the increase in production and demand for steel during the forecast period is the primary driver for market growth.

Refractory products are consumed in substantial quantities during the production of steel, and any change in the global steel production will have a direct impact on the demand for refractory products.

THE MARKET IS SPURRED BY GROWTH IN GLOBAL STEEL PRODUCTION

WORLD'S TOP BRANDS LEAD THE WAY

Krosaki Harima Corporation         Imerys

Saint-Gobain

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The refractory products market is characterized by numerous vendors.

SHINAGAWA REFRACTORIES

RHI Magnesita  

Vesuvius

APAC IS THE REFRACTORY PRODUCTS MARKET HUB

APAC dominated the global refractory products market in 2018. Growth in global steel production will drive the demand for refractory products in the region.

80.85% of the incremental growth will originate from APAC

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CONSOLIDATION IN THE REFRACTORY MANUFACTURING INDUSTRY

With the advancement in refractory technologies, enhanced competition, and increasing difficulty in sourcing raw materials, it is becoming challenging for the refractory manufacturers to compete successfully in the global refractory products market.

This is prompting existing refractory product manufacturers to consolidate their resources, to survive in the market and successfully maintain their competitive advantage.

is the average refractory

consumed for per ton of steel produced 

12kg. 

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