Refractories Market Intelligence

Refractories Market Description

The demand for steel is expected to dominate the market for refractories with its 60 percent share, despite an initial decline in the demand. Asia is expected to dominate the demand market for refractories due to the developing demand for steel in India. In addition to this, rapid growth in infrastructure projects across the globe is projecting exponential growth in the cement and glass industries that are minimizing the negative impact on refractory demand. Factors such as a growth of non-mining sectors, infrastructure/demand for cement, and increased mineral processing output will drive the market for refineries.

The report provides the regional market overview in areas such as the APAC, EU, and North America, followed by the drivers and constraints impacting the global refractories market. The report also gives Porter’s five forces analysis on factors such as supplier power, buyer power, barriers to new entrants, the intensity of rivalry, and the threat of substitutes. It also provides descriptive supplier profiles on major players such as Vesuvius, RHI AG, Magnesita, Krosaki, and Imerys.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Key Global Supplier Profiles
Cost Structure Analysis
KPI - Technical & Legal Parameters
Technology Advancements

Refractories Market Trend, Analysis & Forecast

Category Intelligence on Refractories covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

1. Refractories Executive Summary

1.1 Category Landscape
1.3 Regional Market Outlook

2. Refractories Market Analysis

2.1 Market Overview
2.2 Market Size and Trend
2.3 Demand and Supply
2.4 Regional Market Outlook
2.5 Market Drivers and Constraints
2.6 Global Porter’s Five Force Analysis

3. Refractories Supply Analysis

3.1 Major Projects
3.2 Supplier Profile
3.3 SWOT Analysis

4. Refractories Cost and Pricing Analysis

4.1 Cost Structure
4.2 Price Trend
4.3 Engagement models

5. Refractories Procurement Best Practices

5.1 Best Practices
5.2 Key Performance Indicator
5.3 Recent Technology Development
5.4 Company News

Global Market Outlook on Refractories

Though there is a decline in demand, due to reduction of specific consumption of refractories in steel sector, steel demand is expected to dominate the market with 60 percent share
In spite of the weakening demand in China for steel, Asia is expected to dominate the demand for refractories, due to the developing demand for steel in India

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Raw Material Share of Refractories (2016)

Mineral processing refractories either fall under the category of clay based acidic refractories or non clay based basic or neutral refractories, such as fire clays, alumina, mullite, magnesia, chromite, and dolomite
Clay refractories are primarily used by the low temperature zones of blast furnace in the manufacture of steel and in the smelters used for Aluminium processing
The basic oxygen Furnace uses close to 60 percent of the magnesia refractories produced and the electric arc furnace uses close to 25 percent of the alumina refractories produced globally

Market Overview

Global Refractories End-use by Industries (2016)

Falling steel production and prices in 2016 have reduced consumption of refractory materials and reduced the margins of steel manufacturers prices of refractory minerals even lower.
However, over the long term, increased spending on infrastructure in developing countries to sustain the economy’s transition from export oriented growth to domestic consumption based growth will drive opportunities for growth
Refractory consumption in other major end-use industries including cement/lime, non-ferrous metals, glass and ceramics has also been impacted by falling demand and pricing since late 2016

Refractories - Global Demand

Demand is expected to grow at a CAGR of 3–3.5 percent in the upcoming years to reach 51.5 MMT by 2019
Constant cost pressure has been pushing the steel manufacturers to reduce the specific consumption of refractories in the processing of steel and this is projecting a negative impact on the future demand
On the positive side, the rapid growth in infrastructure projects across the globe is projecting exponential growth in the cement and glass industries that are aiding in minimizing the negative impact on refractory demand

Refractories Manufacture's Market Share(2016)

Globally, the supply market of refractories is fragmented with major suppliers, such as Vesuvius, RHI, Magnesita, Imerys, Krosaki, and Shingawa accounting for a combined market share of 18 percent
Various Chinese refractory manufacturers have entered the refractory market with their own technology. While they may have performance issues, the low prices might lead to a competitive cost-per-ton values in future
Production of refractories requires highly specialized expertise along with high R&D expenses and years of field research and data. This is where the major tier-1 suppliers are well ahead of the new entrants to the market

Global Refractories Drivers and Constraints

Drivers

Non-mining Sectors

Glass, cement, energy, and chemical sectors drive the demand for refractories. In 2016, these sectors contributed to 40 percent of the refractory demand. Growth in these sectors is expected to increase their net market share by 4–6 percent in 2018.

Infrastructure/Demand for Cement

Demand for cement and lime is ever increasing, due to the infrastructure growth in emerging countries, which in turn drives the demand for refractories in cement processing.

Mineral Processing Output

Increasing steel, non-ferrous and mineral output processing, and beneficiation due to growing demand for the commodities, drives the demand for refractory usage. Rising commodity prices of steel, aluminium, and other non-ferrous minerals impact the global mineral production, which in turn would help in increasing the value of demand for refractories.

Constraints

Reduction in Specific Consumption

The specific consumption of refractory was close to 15–20 kg to produce 1 ton of steel.With increasing cost pressure and development of thermally-resistant refractories, the specific consumption is expected to reduce to as low as 5kg to produce 1 ton of steel.

Fragmented Market

Though the refractory market is close to 46 MMT, the supply market is fragmented with top 15 players having close to 20 percent market share.

The marginal differences in annual revenues of these suppliers increase the competition among them and may result in normalizing the price of refractories.

Suppliers having a stable research and development facility are expected to be ahead of the competition.

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