The global Refractories Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Form (Shaped Refractories, Unshaped Refractories), By Alkalinity (Acidic & neutral, Basic), By End-User (Iron & Steel, Power Generation, Non-Ferrous metals, Cement, Glass, Others).
The refractories market is witnessing steady growth in 2024, driven by their critical role in high-temperature applications such as steelmaking, cement production, glass manufacturing, and petrochemical processing. Refractories are heat-resistant materials used to line furnaces, kilns, reactors, and other equipment exposed to extreme temperatures, chemical corrosion, and mechanical abrasion. They offer advantages such as thermal insulation, erosion resistance, and dimensional stability, ensuring the integrity and longevity of industrial processes. In steelmaking, refractories are used for lining ladles, tundishes, and blast furnaces to withstand molten metal and slag at temperatures exceeding 1500°C. Further, in cement and glass industries, they are employed for kiln linings, preheaters, and rotary kilns to withstand the corrosive and erosive effects of hot gases and abrasive materials. Additionally, in petrochemical and refining applications, refractories line reactors, boilers, and reformers to contain high-temperature processes and corrosive chemicals. Furthermore, advancements in refractory materials, such as alumina, silica, magnesia, and zirconia, are driving the development of tailored formulations with enhanced properties and performance characteristics. As industries seek to improve energy efficiency, reduce emissions, and extend equipment lifespan, the demand for high-quality refractories is expected to growing, stimulating market expansion and fostering innovation in refractory materials and manufacturing processes.
The market report analyses the leading companies in the industry including Chosun Refractories, Compagnie de Saint-Gobain S.A., Harbisonwalker International, IFGL Refractories Ltd, Imerys, Intocast AG, Krosaki Harima Corp, Magnezit Group, Minerals Technologies Inc, Morgan Advanced Materials, Puyang Refractories Group Co. Ltd, Refratechnik, RHI Magnesita GmbH, Shinagawa Refractories Co. Ltd, Vesuvius, and others.
A prominent market trend in the refractories market is the advancement in high-performance refractory materials. Industries such as steel, cement, and glass manufacturing are continuously seeking materials that can withstand extreme temperatures, corrosive environments, and mechanical wear. Innovations in refractory materials, including the development of nano-refractories and the integration of advanced ceramics, are significantly enhancing the durability and performance of refractory products. These advancements are driven by the need for longer service life and reduced maintenance costs in industrial applications. As a result, manufacturers are focusing on research and development to create refractory products that offer superior thermal resistance and longevity, meeting the rigorous demands of modern industrial processes.
The steel industry is a major driver for the refractories market, given its extensive use of these materials in various high-temperature processes. The production of steel requires refractories for lining furnaces, ladles, and other critical equipment to withstand the intense heat and mechanical stress involved in the process. As global steel production continues to grow, particularly in emerging economies, the demand for high-quality refractories is increasing. Additionally, the trend towards more efficient and environmentally friendly steelmaking processes is boosting the need for advanced refractory materials that can support higher performance and reduce energy consumption. This sustained demand from the steel sector is a key factor driving the growth of the refractories market.
The renewable energy sector presents a significant opportunity for the refractories market. As the world shifts towards sustainable energy solutions, there is a growing need for refractory materials in applications such as biomass and waste-to-energy plants, as well as in the production of solar panels and wind turbines. These applications require materials that can endure high temperatures and corrosive environments, making advanced refractories an essential component. Additionally, the development of new energy storage technologies, such as high-temperature thermal energy storage systems, also relies on robust refractory materials. The increasing investment in renewable energy infrastructure globally provides a lucrative opportunity for refractory manufacturers to diversify their product offerings and tap into this expanding market.
Shaped Refractories emerge as the largest segment in the refractories market by form. The large revenue share is primarily attributed to the versatility and widespread applicability of shaped refractories across various industries. Shaped refractories are pre-formed or pre-cast products designed to fit specific shapes and dimensions of industrial furnaces, kilns, and other high-temperature processing equipment. Industries such as steel, cement, glass, and non-ferrous metals heavily rely on shaped refractories for lining their equipment to withstand extreme temperatures, chemical corrosion, and mechanical stresses. The demand for shaped refractories is driven by ongoing industrialization, infrastructure development, and the expansion of high-temperature manufacturing processes globally. Additionally, advancements in manufacturing techniques and material formulations have enhanced the performance and durability of shaped refractories, further bolstering their demand in critical industrial applications. As a result, shaped refractories continue to maintain their prominence as the largest segment in the refractories market.
The Basic Refractories segment is the fastest-growing segment in the refractories market by alkalinity. This growth is driven by the demand for basic refractories in various industrial applications. Basic refractories, characterized by their high resistance to alkaline environments and ability to withstand high temperatures, find extensive use in industries such as steelmaking, cement production, non-ferrous metallurgy, and glass manufacturing. With the expansion of these industries globally, particularly in emerging economies, the demand for basic refractories has surged. Additionally, the increasing focus on infrastructure development, urbanization, and construction activities further contributes to the demand for basic refractories, particularly in the construction of blast furnaces, converters, and lime kilns. Furthermore, advancements in refractory materials and manufacturing processes have enhanced the performance and lifespan of basic refractories, making them indispensable for critical high-temperature applications. As a result, the Basic Refractories segment experiences rapid growth within the refractories market.
The Iron & Steel Industry segment stands out as the largest segment in the refractories market by end-user. The large revenue share can be attributed to the significant demand for refractory materials within the iron and steel manufacturing sector. Refractories play a crucial role in iron and steel production processes, where they are used in various applications such as blast furnaces, converters, ladles, and other high-temperature units. As the iron and steel industry remains a cornerstone of industrialization globally, particularly in regions like Asia-Pacific and Europe, the demand for refractories continues to witness steady growth. Moreover, ongoing technological advancements and innovations in steelmaking processes have led to the development of more sophisticated refractory materials tailored to withstand extreme temperatures and harsh operating conditions, further fuelling the demand from this segment. With the expansion of steel production capacities, driven by infrastructure development, urbanization, and growing demand for automobiles and consumer goods, the Iron & Steel Industry segment maintains its status as the largest consumer of refractories in the market.
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Chosun Refractories
Compagnie de Saint-Gobain S.A.
Harbisonwalker International
IFGL Refractories Ltd
Imerys
Intocast AG
Krosaki Harima Corp
Magnezit Group
Minerals Technologies Inc
Morgan Advanced Materials
Puyang Refractories Group Co. Ltd
Refratechnik
RHI Magnesita GmbH
Shinagawa Refractories Co. Ltd
Vesuvius
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Refractories Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Refractories Market Size Outlook, $ Million, 2021 to 2032
3.2 Refractories Market Outlook by Type, $ Million, 2021 to 2032
3.3 Refractories Market Outlook by Product, $ Million, 2021 to 2032
3.4 Refractories Market Outlook by Application, $ Million, 2021 to 2032
3.5 Refractories Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Refractories Industry
4.2 Key Market Trends in Refractories Industry
4.3 Potential Opportunities in Refractories Industry
4.4 Key Challenges in Refractories Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Refractories Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Refractories Market Outlook by Segments
7.1 Refractories Market Outlook by Segments, $ Million, 2021- 2032
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
8 North America Refractories Market Analysis and Outlook To 2032
8.1 Introduction to North America Refractories Markets in 2024
8.2 North America Refractories Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Refractories Market size Outlook by Segments, 2021-2032
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
9 Europe Refractories Market Analysis and Outlook To 2032
9.1 Introduction to Europe Refractories Markets in 2024
9.2 Europe Refractories Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Refractories Market Size Outlook by Segments, 2021-2032
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
10 Asia Pacific Refractories Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Refractories Markets in 2024
10.2 Asia Pacific Refractories Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Refractories Market size Outlook by Segments, 2021-2032
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
11 South America Refractories Market Analysis and Outlook To 2032
11.1 Introduction to South America Refractories Markets in 2024
11.2 South America Refractories Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Refractories Market size Outlook by Segments, 2021-2032
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
12 Middle East and Africa Refractories Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Refractories Markets in 2024
12.2 Middle East and Africa Refractories Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Refractories Market size Outlook by Segments, 2021-2032
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Chosun Refractories
Compagnie de Saint-Gobain S.A.
Harbisonwalker International
IFGL Refractories Ltd
Imerys
Intocast AG
Krosaki Harima Corp
Magnezit Group
Minerals Technologies Inc
Morgan Advanced Materials
Puyang Refractories Group Co. Ltd
Refratechnik
RHI Magnesita GmbH
Shinagawa Refractories Co. Ltd
Vesuvius
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Form
Shaped Refractories
Unshaped Refractories
By Alkalinity
Acidic & neutral
Basic
By End-User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Refractories Market Size is valued at $32.9 Billion in 2024 and is forecast to register a growth rate (CAGR) of 4.7% to reach $47.5 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Chosun Refractories, Compagnie de Saint-Gobain S.A., Harbisonwalker International, IFGL Refractories Ltd, Imerys, Intocast AG, Krosaki Harima Corp, Magnezit Group, Minerals Technologies Inc, Morgan Advanced Materials, Puyang Refractories Group Co. Ltd, Refratechnik, RHI Magnesita GmbH, Shinagawa Refractories Co. Ltd, Vesuvius
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume