Refractories Market Growth, Demand and Challenges of the Key Industry Players 2028

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Global Refractories Market Research Report:

The latest report by IMARC, titled “ Refractories Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-202

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” finds that the global refractories market size reached US$ 25.5 Billion in 2022.

Refractories are inorganic, non-metallic, porous, and heterogeneous materials with exceptionally high melting points. They are manufactured using materials such as fireclay, high alumina minerals, silica, magnesite, and chromite with excellent resistance to mechanical and thermal stress, corrosion from solids, liquids, and gases, physical wear or abrasion, and gas diffusion.

They can withstand high industrial temperatures and pressures and are available in various shapes and sizes that can be pressed or molded according to the required dimensions. They are widely used as interior linings in boilers, furnaces, and kilns to contain heat and protect material processing equipment from elevated temperatures.

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Global Refractories Market Trends:

The escalating demand for refractories from the iron and steel sectors represents the primary factor driving the market growth. Moreover, the rising investments in large-scale infrastructure projects, especially in developing regions, is another major growth-inducing factor. In addition, there has been a significant shift from conventional tools toward refractories due to their higher temperature resistance, easy installation, and ability to manufacture bricks in customized shapes. Along with this, the increasing production of non-ferrous metals has augmented the product demand for use in internal lining applications. Furthermore, the leading manufacturers are focusing on expanding their production capacities and product portfolio to gain a competitive edge.

Besides this, the shifting inclination toward recycling refractory materials for manufacturing steel due to the introduction of stringent government regulations regarding emissions and tax incentives has propelled market growth. Other factors, including the rising usage of iron, steel, and glass in the automotive industry, increasing construction activities, rapid industrialization, surging adoption of unshaped refractories, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 33.0 Billion by 2028, growing at a CAGR of 4.2% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

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Market Summary:

Breakup by Form:

• Shaped Refractories

• Unshaped Refractories

Breakup by Alkalinity:

• Acidic and Neutral

• Basic

Breakup by Manufacturing Process:

• Dry Press Process

• Fused Cast

• Hand Molded

• Formed

• Unformed

Breakup by Composition:

• Clay-Based

• Nonclay-Based

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Breakup by Refractory Mineral:

• Graphite

• Magnesite

• Chromite

• Silica

• High Alumina

• Zirconia

• Others

Breakup by Application:

• Iron and Steel

• Cement

• Non-Ferrous Metals

• Glass

• Others

Breakup by Region:

• North America

• United States

• Canada

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• Asia Pacific

• China

• Japan

• India

• South Korea

• Australia

• Indonesia

• Others

• Europe

• Germany

• France

• United Kingdom

• Italy

• Spain

• Russia

• Others

• Latin America

• Brazil

• Mexico

• Others

• Middle East and Africa

Competitive Landscape with Key Players:

• Chosun Refractories Eng Co. Ltd

• Compagnie de Saint-Gobain S.A.

• Coorstek Inc.

• Imerys Usa Inc.

• Krosaki Harima Corporation

• Morgan Advanced Materials Plc

• Refratechnik Holding GmbH

• RHI Magnesita GmbH

• Vesuvius Plc

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We are the trusted business partners to the world's leading corporates, governments, and institutions

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