World Refractories Market to Reach 59 Million Metric Tons, and US$31 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Refractories market. The global market for Refractories is forecast to reach 59 million metric tons, and US$31 billion by 2015. Key market drivers include growing use in metal and non-metallic mineral products production, emerging markets such as China and India, and increased preference for lighter and stronger refractory materials. New and advanced products, and installation/repair practices are also expected to spur global demand for refractories in the next few years.

Refractories: A Global Strategic Business Report

Global demand for refractories declined during late 2008 and in 2009, as a result of the economic crisis, and declining production and consumption of steel, the largest end-use market for refractories. Steel use contracted by 6.2% in 2009. Nevertheless, with the economy gradually rebounding from recession and the global steel production beginning to recoup, demand for refractories is forecast to increase starting from late 2010.

Asia-Pacific constitutes the largest and fastest growing regional market for Refractories, accounting for an estimated unit share of more than 70%, as stated by the new market research report on Refractories. China and India are driving overall growth of Asia-Pacific in the global market. Fuelled by strong industrial production, China accounted for a major share of the global market in 2010. Meanwhile, increasing level of industrialization is fueling growth in the Indian steel industry, providing ample growth opportunities for refractories. Iron & steel remains the major end-use market for refractories. However, the declining steel industry usage of refractories of late bodes well for the growth of refractories in other end-use sectors. Growth in production of cement, ceramics, as well as other mineral products is expected to complement this growing trend in the coming years. In addition, an upsurge in the use of refractories in metal and non-metallic mineral products’ production is expected to widen the market’s growth prospects.

In terms of material, clay refractories represents the largest and fastest growing segment. The market is projected to grow at a CAGR of 6.6% over the analysis period. The market for non-clay refractories is projected to reach 19.6 million metric tons by 2012. By form type, bricks and shapes represent the leading segment, while monolithics and others are projected to cross US$10.34 billion by 2012.

Growth prospects are high for monolithic castables and preformed shapes that feature high performance and flexibility than other refractory forms. Significant growth potential is witnessed in Zircon/zirconia, silicon carbide extra-high alumina, and other more specialized refractory materials that offer strong performance in specific applications. Besides, an above average growth is foreseen in the case of cost-effective refractory materials, including silica, high-alumina, ceramic fibers, and insulating types.

Key players profiled in the report include Acera Technology, ANH Refractories Company, SEEIF Ceramic, Ferro Corp., Imerys SA, C-E Minerals Inc., McDanel Advanced Ceramic Technologies, MINTEQ International, Morgan Crucible Company Plc., RHI AG, Saint-Gobain Ceramics & Plastics, Inc., Shinagawa Refractories Co., Ltd., Tata Refractories Ltd., Vesuvius Group.

The report titled “Refractories: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Refractories market, impact of recession on the market, current market trends, growth drivers, segmental analysis, end-use market review, product introductions, recent industry activity, and focus on major and niche players worldwide. The study analyzes market data and analytics in terms of both value and volume sales for global as well as regional markets including the US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin American; by Form Type (Bricks & Shapes, and Monolithics & Others); and by Material Type (Clay Refractories, and Non-Clay Refractories). In addition, volume analytics are also provided in terms of end-use segments for Iron & Steel, Cement, Ceramics & Glass, and Others

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Refractories_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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