Global micro reactor technology market is antcipated to witness in surge in demand owing to growing demand for 3-D printed micro reactors, growing share of nano pharmaceutics market, and increasing regulations and growing safety concerns in chemical industry among others. Among these factors, incresing regulations and growing safety concerns is estimated to influence the market growth most effectively across the globe. Among the major end-use industris, chemical industry is subjected to stringent regulations, due to its environmentally hazardous nature. Stringent regulatory framework is resulting to the search of alternative produiction techniques for most of the production processes. As micro reactors offers sustainable production of hazardous chmicals. Manufacturers are inclined towards micro reactor technology wherever possible. Specilaty chemicals which are manufactured in low quantity are prefered to manufactured using micro process.
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Refractories Market– Top 10 Global key Players & Their Strategy
The key players in market includes Magnesita Refratarios S.A., Saint-Gobain S.A, RHI AG, Shinagawa Refractories Co. Ltd, Krosaki Harima Corporation, Corning Incorporated, Vesuvius PLC, Harbisonwalker International (HWI) Inc, Coorstek Incorporated, Morgan Advanced Materials PLC and others.
Market Overview / Study Objective / Synopsis
Globally, the market for Refractories is growing at a CAGR of 4.02% during forecasted period (2016-2022). Refectories is a material that is heat resistant, it provides linings for the heat temperature furnace, reactors and other processing units. Refractories are made of natural and manmade materials, usually nonmetallic or combinations of other compound and minerals.
Refractories Market – Competitive Analysis
The major players of the market have certain challenges such as various companies do not have their manufacturing located where the region is growing the most in order to prevent this the major players are expanding their business with a focus on growing region. Due to high price raw material the competitors are facing certain challenges various companies are focusing in house supply of raw materials in order to reduce the burden of high cost of raw materials.
- Manufacturers and distributors of Refractories
- Suppliers and traders of Refractories
- Government, associations and industrial bodies.
- Investors and Trade experts.
- Consulting in chemical experts.
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Application sector is segmented into steel, cement, glass, non-ferrous and others. The steel industry is the largest application of refractories globally. Refractories has the characteristics which are lightweight, high temperature sustainability, and robustness, therefore they are ideal for linings and insulation of the high temperature furnaces used in steel industry. In-addition, the increasing infrastructure and construction activities in the developing economies such as India, Brazil, Mexico, Russia, and other economies worldwide are contributing abundantly to the steel consumption and henceforth increasing refractories usage.
Asia-Pacific region represents largest market share in the global refractories market. Rise in population drives construction industry which further drives the refractories market in emerging economies. In North America, U.S market is largest consumer of refractories over the forecasted period. Growing production of steel and cement in U.S especially for construction purpose across the globe has increased the need of refractories. After recovery from recession companies are focusing more on profits by reducing material composites of high prices. These has boosted the refractories market growth in U.S.
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