Refractory materials are used to provide refractory lining in furnaces, kilns, incinerators, and reactors. These materials have a high melting point (greater than 1,520 degree Celsius). Refractory materials are subjected to various conditions such as high temperature, abrasions and chemical corrosions, slag attacks, and chemical reactions when they are used in refractory linings. Hence, these materials must be able to endure these conditions with less wear and tear and high reliability. The Steel industry is one of the major end-users of these materials.
Analysts forecast the Refractory Material market in India to grow at a CAGR of 9.85 percent over the period 2013-2018.
The Report recognizes the following companies as the key players in the Refractory Material Market in India: IFGL Refractories Ltd., Krosaki Harima Corp., Magnesita Refratários SA, OCL India Ltd., RHI AG, TRL Krosaki Refractories Ltd. and Vesuvius plc.
Other Prominent Vendors in the market are: Bharath Refractories, Burn Standard, RHI, Vesuvius India, Saint-Gobain, Orient Abrasives, Vishva Vishal and Shri Nataraj Ceramic and Chemical Industries.
Increasing mergers and acquisitions is one of the major trends in the refractories market. A large number of mergers and acquisitions and other strategic alliances are taking place in the market with many large players and emerging vendors involved
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Covered in this Report
This report covers the present scenario and the growth prospects of the Refractory Material market in India for the period 2014-2018. In terms product, the Refractory Material market in India can be segmented into two: Bricks and Shapes, and Monolithic.
Refractory Material Market in India 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers India; it also covers the landscape of the Refractory Material market in India and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers in the market is the growth of emerging markets, such as China and Brazil, which has increased the demand for refractory materials.
Further, the report states that the increasing cost of raw materials is one of the major challenges faced by the market. The demand for heat-resistant raw materials to develop refractory materials is increasing; however, the available sources of raw materials are decreasing. Therefore, the prices of raw materials have increased over a period of time, hampering the market growth in India.
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