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The size of the refractories market was estimated at $25 billion in USD in 2022. There will be a 7.00% CAGR in the Refractories market from 2023 to 2030, taking the market size from USD 27 Billion in 2023 to USD 40 Billion in 2030.
Key market drivers promoting market expansion include the expanding infrastructural development in developed and emerging countries worldwide, which has boosted the amount of construction activities and is expected to fuel the need for cement. Ceramic refractories are very resistant to high temperatures, chemical corrosion, mechanical wear, and thermal shock. They provide mechanical strength, thermal insulation, and corrosion resistance, and play an essential but often underappreciated role in the day-to-day operations of virtually every industry. Iron and steel, cement, glass, other metals, paper and pulp, and petrochemicals have all relied heavily on these items to advance their respective production processes.
Since refractory materials are widely utilised as thermal insulation, the production of iron and steel has increased in both developed and developing economies including the United States, China, and India in response to rising demand from the automobile sector. Demand for glass to make windows, doors, and other construction components has increased as the modern theme building and construction industry has expanded. The need for refractory material, which is commonly used in kilns and furnaces for thermal insulation in glass manufacturing facilities, may increase. These are the driving forces behind the rising demand for refractory materials. Ceramic fibres, silica, and alumina are examples of refractory materials that can be harmful to people at high enough concentrations. Examples include the potential for skin and respiratory tract irritation from prolonged contact with ceramic fiber-based refractory material. Furthermore, inhaling very fine (crystalline) silica particles can lead to serious health problems, including silicosis, and even death. Because of this, the market cannot expand.
Although these products have been used for quite some time, a significant shift in the industry is the creation of refractory products from a variety of materials. For instance, magnesia-chrome refractory is created when magnesia minerals are mixed with chromium oxide. These items offer excellent resistance to chemical corrosion and great refractoriness. Not only that, but the steel and cement sectors have a high demand for unformed goods like monolithic formed from aggregates, additives, and binders. They line the inside of the kiln behind the moulds and templates to keep the interior at a consistent temperature. The demand for such formless goods from downstream sectors has led to a rise in their production. For instance, 6K Additive recently announced the commercial release of a new set of refractory metal powders. These powders belong to a unique class of materials known for their high temperature and wear resistance, making them ideal for use in the production of high-strength components.
Significant investment in the construction of residential and commercial buildings has resulted from rising urbanisation and industrialization, especially in emerging nations like India and China. Global Construction Perspective and Oxford Economics predict that by 2030 the global construction market would have grown by 85% to USD 15.55 trillion, with growth concentrated in just three countries—China, India, and the United States. China has one of the world's fastest-growing economies, and the country's expanding middle class has necessitated the construction of new highways and trains. The development of China's automobile sector has been helped by this. Demand for refractories in the iron and steel sectors, as well as the cement industry, is predicted to rise as a result of the rapid pace of infrastructure development in these developing nations. The glass industry, which in turn drives the need for refractories, is likely to benefit from the rising construction activities in emerging economies.
Harmful gases and organic particulate matter (PM) are released during the production of refractories. These gases and VOCs include sulphur dioxide (SO2), nitrogen oxides (NOx), carbon monoxide (CO), carbon dioxide (CO2), fluorides, and VOCs. The processes of crushing, grinding, calcining, and drying all contribute to the release of PM, whereas the processes of burning and tar & pitch production release gases and volatile organic compounds, respectively. Chrome-based refractories are widely used in the iron and steel industry, and recycling of these materials is encouraged by US rules on refractory waste disposal and guidance on the use of refractories. To enhance the accuracy and reliability of the present refractory testing standards in Europe, initiatives like ReStaR (Review and improvement of testing Standards for Refractory goods) have been implemented. The expansion of the refractories industry is hindered by environmental regulations and restrictions on the use of refractory materials.
Report Coverage
Global Refractories research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Refractories report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Refractories competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Refractories market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Refractories market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Refractories market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
RHI Magnesita GmbH, Saint-Gobain, Imerys , Morgan Advanced Materials, Shinagawa Refractories Co., Ltd., CoorsTek Inc., Krosaki Harima Corporation, HarbisonWalker International, INTOCAST , and Chosun Refractories Eng. Co. Ltd
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Refractories market based on the below-mentioned segments:
Global Refractories Market, By Form
Shaped Refractories
Unshaped Refractories
Global Refractories market, By Alkalinity
Acidic & neutral
Basic
Global Refractories Market, By End User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
Global Refractories market, Regional Analysis
Key market drivers promoting market expansion include the expanding infrastructural development in developed and emerging countries worldwide, which has boosted the amount of construction activities and is expected to fuel the need for cement. Ceramic refractories are very resistant to high temperatures, chemical corrosion, mechanical wear, and thermal shock. They provide mechanical strength, thermal insulation, and corrosion resistance, and play an essential but often underappreciated role in the day-to-day operations of virtually every industry. Iron and steel, cement, glass, other metals, paper and pulp, and petrochemicals have all relied heavily on these items to advance their respective production processes.
Since refractory materials are widely utilised as thermal insulation, the production of iron and steel has increased in both developed and developing economies including the United States, China, and India in response to rising demand from the automobile sector. Demand for glass to make windows, doors, and other construction components has increased as the modern theme building and construction industry has expanded. The need for refractory material, which is commonly used in kilns and furnaces for thermal insulation in glass manufacturing facilities, may increase. These are the driving forces behind the rising demand for refractory materials. Ceramic fibres, silica, and alumina are examples of refractory materials that can be harmful to people at high enough concentrations. Examples include the potential for skin and respiratory tract irritation from prolonged contact with ceramic fiber-based refractory material. Furthermore, inhaling very fine (crystalline) silica particles can lead to serious health problems, including silicosis, and even death. Because of this, the market cannot expand.
Although these products have been used for quite some time, a significant shift in the industry is the creation of refractory products from a variety of materials. For instance, magnesia-chrome refractory is created when magnesia minerals are mixed with chromium oxide. These items offer excellent resistance to chemical corrosion and great refractoriness. Not only that, but the steel and cement sectors have a high demand for unformed goods like monolithic formed from aggregates, additives, and binders. They line the inside of the kiln behind the moulds and templates to keep the interior at a consistent temperature. The demand for such formless goods from downstream sectors has led to a rise in their production. For instance, 6K Additive recently announced the commercial release of a new set of refractory metal powders. These powders belong to a unique class of materials known for their high temperature and wear resistance, making them ideal for use in the production of high-strength components.
Significant investment in the construction of residential and commercial buildings has resulted from rising urbanisation and industrialization, especially in emerging nations like India and China. Global Construction Perspective and Oxford Economics predict that by 2030 the global construction market would have grown by 85% to USD 15.55 trillion, with growth concentrated in just three countries—China, India, and the United States. China has one of the world's fastest-growing economies, and the country's expanding middle class has necessitated the construction of new highways and trains. The development of China's automobile sector has been helped by this. Demand for refractories in the iron and steel sectors, as well as the cement industry, is predicted to rise as a result of the rapid pace of infrastructure development in these developing nations. The glass industry, which in turn drives the need for refractories, is likely to benefit from the rising construction activities in emerging economies.
Harmful gases and organic particulate matter (PM) are released during the production of refractories. These gases and VOCs include sulphur dioxide (SO2), nitrogen oxides (NOx), carbon monoxide (CO), carbon dioxide (CO2), fluorides, and VOCs. The processes of crushing, grinding, calcining, and drying all contribute to the release of PM, whereas the processes of burning and tar & pitch production release gases and volatile organic compounds, respectively. Chrome-based refractories are widely used in the iron and steel industry, and recycling of these materials is encouraged by US rules on refractory waste disposal and guidance on the use of refractories. To enhance the accuracy and reliability of the present refractory testing standards in Europe, initiatives like ReStaR (Review and improvement of testing Standards for Refractory goods) have been implemented. The expansion of the refractories industry is hindered by environmental regulations and restrictions on the use of refractory materials.
Report Coverage
Global Refractories research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Refractories report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Refractories competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Refractories market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | RHI Magnesita GmbH, Saint-Gobain, Imerys , Morgan Advanced Materials, Shinagawa Refractories Co., Ltd., CoorsTek Inc., Krosaki Harima Corporation, HarbisonWalker International, INTOCAST , and Chosun Refractories Eng. Co. Ltd |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Refractories Market from 2021 to 2030.
- Market Forecast for Refractories Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Refractories competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Refractories
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Refractories market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Refractories market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
RHI Magnesita GmbH, Saint-Gobain, Imerys , Morgan Advanced Materials, Shinagawa Refractories Co., Ltd., CoorsTek Inc., Krosaki Harima Corporation, HarbisonWalker International, INTOCAST , and Chosun Refractories Eng. Co. Ltd
Primary Target Market
- Market Players of Refractories
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Refractories market based on the below-mentioned segments:
Global Refractories Market, By Form
Shaped Refractories
Unshaped Refractories
Global Refractories market, By Alkalinity
Acidic & neutral
Basic
Global Refractories Market, By End User
Iron & Steel
Power Generation
Non-Ferrous metals
Cement
Glass
Others
Global Refractories market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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