According to latest research conducted on refractory cement market, it is expected to register a CAGR of over 4-5% during the forecast period 2021 to 2031. The market is being driven by its applications in industries that require a high thermal & electrical insulation such as at furnaces, wood burning places, firebox chambers where it provide excellent thermal insulation & helps in preventing the gas leakage.
However, the market's growth has been hampered in the short to medium term by unfavourable conditions caused by the COVID-19 pandemic outbreak.
What is Driving Demand for Refractory Cement?
Refractory cement is created from high-quality bauxite and lime, as well as other raw materials mixed in the right proportions. The clinker with aluminate as the major component is ground into a fine powder after sintering to produce a hydraulic cementing material that is fire resistant.
This cement hardens rapidly. Refractory cement may be a common lining material for kiln, which is widely employed in hot temperature industrial kiln of furnace, hot furnace, heating furnace, boiler and other industries.
Due to its excellent thermal insulation property it is used in blast furnaces, wood burning places, incinerators to maintain the temperature and prevent the leakage of gas. It helps in sealing the gas that results in the temperature maintenance. As it is used in these industries at large scale, the demand is anticipated to grow in near future.
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Demand & Role of Refractory Cement
To lessen the danger of mechanical failure, this cement includes binding elements with superior thermodynamic properties. Some fused minerals, such as alumina or aluminum oxide, are used to link materials and provide higher temperature resistance without compromising the material's basic property & formability.
This setup makes it possible to make refractory cements with an exceptional combination of formability and thermal resistance. When exposed to temperature changes, solids, particularly thermally conductive metals, expand and shrink.
In the midst of continual thermodynamic stress, this cement used to attach structural metals together in refractory applications, or for the sealing of joints and gaskets, while effectively maintaining their structural integrity. Regular cement may expand successfully in conjunction with other rigid equipment, but it frequently fails during contraction due to clinker or binding material breakdown.
Hence due to its properties, this cement is used at fireplaces, furnaces where it provides excellent electrical & thermal insulation. In coming period demand is expected to increase as it is highly preferred material in high temperature industrial applications.
Asia Pacific Demand Market Outlook for Refractory Cement
Asia-Pacific is expected to dominate the refractory cement market owing to the strong production and consumption pattern in China. The Asia-Pacific region is predicted to grow with the high rate within the forecast period of 2021 to 2031, because of the large population which leads to significant demand for construction and automotive industry.
This cement is used to produce refractory materials which are required to be used in high temperature and insulation applications across furnaces and rotary kilns, and thus find high demand across fast developing economies such as India and ASEAN countries. This factor also creates large customer base within the region for the market.
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Europe Demand Outlook for Refractory Cement
Europe is expected to play significant role in the driving the demand of the market. This cement bears excellent thermal & electrical insulation properties which are required in various industries such as production of steel, iron and other materials, where it maintains the temperature & provide insulation.
As the production & consumption of steel, iron will increases in Europe, it will help in propelling the consumption of refractory cement and is expected to drive the demand for this market. Germany, France and UK are some of the most important demand centres for this product in the European region.
Who are the Key Manufacturers and Suppliers of Refractory Cement?
The Refractory Cement market is fragmented in nature, while there are top players accounting for a major share of the market as well as small players are also taking active participation in the growth of the market. Some of the key companies in the market include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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