Refractory are characterized as various non-metallic, inorganic, porous and heterogeneous materials, which are designed to endure high industrial temperatures & pressures. Most common types of refractory materials include high alumina minerals, fireclay, silica, chromite, magnesite, etc. They consist of material-resistant materials because they are resistant to mechanical and thermal stress, corrosion from solids, liquids and gases, mechanical abrasion and the diffusion of gases. They are used in kettles and ovens to store heat and protect processing equipment from high temperatures. They come in a variety of shapes and sizes that can be pressed or molded to the dimensions required. Because of this, they are widely used in various sectors including energy, chemistry, iron & steel manufacturing, non-ferrous metals, cement, glass and ceramics.
It is expected that spray unshaped refractory will be the fastest growing segment in the forecast period. Research & Development (R&D) ongoing activities in this segment are attributed to the rapid growth of the informal refractory segment. In addition, availability of unshaped refractory in various compositions meets the specific needs of various end-user industries, making it the fastest growing and most preferred segment in the market.
Referring to the study, Global Spray Unshaped Refractory Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027 the key companies operating in the global spray unshaped refractory market include Henan Rongjin High Temperature Materials, Morgan Advanced Materials, Krosaki Harima, Harbison Walker International, Puyang Refractories, Chosun Refractories, Magnezit, Refratechnik, Luyang Energy-saving Materials, Saint-Gobain, Beijing Lier High-temperature Materials, Yingkou Qinghua, Ruitai Materials, Zhejiang Zili, Henan Rongjin High Temperature Materials, Minteq, Shinagawa Refractories and among others. The leading market players are focusing on strengthening their sales and distribution network in the refractory market. Key market players are also focusing on the inorganic growth strategies for instance strategic acquisitions supported by the organic growth strategies including manufacturing capacity expansions across various regions to augment volume sales globally & provide to the local demand as well.
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High growth rate witnessed by the non-metallic minerals industry, followed by increase in infrastructural development in emerging countries and rise in demand for high-grade refractory from the iron & steel industry are some major factors, which are responsible for growth of the spray unshaped refractory market. Apart from this, monopoly of china over raw material supply and restrictions on the use of refractory owing to growing environmental concerns may impact the market. Moreover, recycling of refractory materials is a leading opportunity for market.
Based on regional analysis, the Asia-Pacific is a leading region in Global Spray Unshaped Refractory Market owing to growth in steel, cement and other heavy manufacturing industries across the region. The Europe and North-America regions are estimated to witness higher growth rate due to growth in utilization of aerospace, medical, automotive, electrical and construction castings over the forecast period. It is projected that future of the global spray unshaped refractory market will be bright on account of rise in infrastructural activities coupled with growth in trend of recycling refractory materials for manufacturing steel during the forecast period.
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Ankur Gupta, Head Marketing & Communications