The global refractories market size reached US$ 25.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Refractories refer to various inorganic, non-metallic, porous and heterogeneous materials that are designed to withstand high industrial temperatures and pressures. Some of the most common types of refractory materials include fireclay, high alumina minerals, silica, magnesite, chromite, etc. They are manufactured using such materials as these are resistant to mechanical and thermal stress, corrosion from solids, liquids and gases, mechanical abrasion and gas diffusion. They are used in boilers and furnaces to contain heat and protect the processing equipment from intense temperatures. They are available in a wide variety of shapes and sizes that can be pressed or molded as per the required dimensions. Owing to this, they find extensive applications across various sectors, including iron and steel manufacturing, energy, chemical, non-ferrous metals, glass, cement and ceramics.
Significant growth in the steel industry across the globe is one of the key factors creating a positive outlook for the market. The market is further driven by rising infrastructural activities, especially in developing nations. In comparison to the traditionally used tools, refractories have higher-temperature resistance, are more convenient to install and can manufacture bricks in customized shapes. There is also a widespread adoption of unshaped refractories for various construction applications. Additionally, technological advancements and the emerging trend of recycling refractory materials for manufacturing steel are also creating a positive impact on the market. Other factors, including the growing demand for non-ferrous metals, along with the increasing utilization of aerospace, automotive, medical, electrical and construction castings, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global refractories market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on form, alkalinity, manufacturing process, composition, refractory mineral and application.
Breakup by Form:
- Shaped Refractories
- Unshaped Refractories
Breakup by Alkalinity:
Breakup by Manufacturing Process:
- Dry Press Process
- Fused Cast
- Hand Molded
Breakup by Composition:
Breakup by Refractory Mineral:
- High Alumina
Breakup by Application:
- Iron and Steel
- Non-Ferrous Metals
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 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, etc.
|Base Year of the Analysis
||Form, Alkalinity, Manufacturing Process, Composition, Refractory Mineral, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Vesuvius Plc
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Key Questions Answered in This Report:
- How has the global refractories market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global refractories industry?
- What is the breakup of the market based on the form?
- What is the breakup of the market based on the alkalinity?
- What is the breakup of the market based on the manufacturing process?
- What is the breakup of the market based on the composition?
- What is the breakup of the market based on the refractory mineral?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global refractories market and who are the key players?
- What is the degree of competition in the industry?