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refractory equipment market
The global Refractory Equipment Market size was valued at USD 23.71 billion in 2019 and is expected to reach US$ 32.11 billion by 2027 at a CAGR of 3.4%.
The Refractory Equipment Market is one of the leading industries that provides support to many industries in the production sector. Refractory equipment includes a wide range of products such as furnaces, insulation materials, mortars, brick and fireclay materials which are used to withstand extreme temperatures and pressures. Refractory materials play a major role in controlling the temperatures within industrial systems in order to ensure proper functioning of machineries, reduce energy consumption and extend the life of machines. Refractory equipments are used by various industries such as steel mills, power generation plants, glass manufacturers, petrochemical refineries and cement plants.
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Refractory equipment market has witnessed exponential growth during the last decade owing to several factors such as economic growth across Europe and North America, increasing demand for construction Industry Refractories (CIRs), growing awareness about energy efficiency among companies and governments across the globe, etc. Additionally, rapidly increasing population resulting in enormous pressure on existing infrastructure has further contributed towards market growth over the years. Further technological advancements coupled with rising investments by major market players are expected to have positive impact on Refractory Equipment Market growth during forecast period 2020-2027.
Key Players-
Some of the key players identified across the value chain of the Refractory Equipment market are: EZG Manufacturing Thermal Specialties Airplaco Equipment Company BLASTCRETE EQUIPMENT COMPANY Bricking Solutions Davis Fabricators Refractories West Refractory Anchors (RAI) Walker Equipment Company
Refractory Equipment Market: Dynamics
Refractory equipment are extensively used in petrochemical, oil and nuclear industries for lining the inner walls of petrochemical containers and nuclear reactors. Hence, expanding industries in such sectors will drive the market of refractory equipment during the forecasted period.
Governments of various countries are collaborating with private investors to build smart cities. Rising investments will propel the demand for construction materials, such as bricks and cements for structural purposes. This in turn, will increase the demand of refractory equipment, such as refractory mixers, within the cement industry.
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Refractory Equipment Market: Segmentation
Product type
Impact Mill Ring and Roller Mill Air Separator
Temperature
Normal refractory – up to 1780°F (Ex. to melt Aluminum) High refractory – 1780 – 2000°F (Ex. to melt Copper) Super Sonic refractory – above 2000°F (Ex. to melt Iron)
Refractory material
Clay Fused Silica Brick Monolithic Others
Application
Metallurgy Petrochemical Petroleum Construction Thermal Power Steel Industry Cement Oil Refining Fire Proofing Other
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Refractory Equipment Market: Regional Outlook
Asia pacific owns a major share in the Refractory Equipment market owing to growing smart cities and oil refinery industry in developing countries, such as China and India. China and India are anticipated to account for maximum energy consumption over the forecast period. The market will continue to maintain its position in the coming years. It will also be home to key manufacturers and suppliers. In North America, the market of Refractory Equipment is expanding due to huge investments and collaborations between the government and private sector. In Europe, the Refractory Equipment market is expected to see sizeable growth due to the implementation of energy efficient programs and legislations.
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