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The global refractories market size was valued at USD 52,260.0 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.0% from 2022 to 2030.  Increasing demand for non-ferrous materials such as glass, iron and steel is driving the growth of the global refractories market. Increasing construction activities in China are expected to increase the growth of the cement and iron and steel industries. These industries are expected to drive the growth of the refractories market in the Asia Pacific region. The increase in the demand from different end use industries is expected to drive the growth of the market. Moreover, the increased investments in infrastructure development will also help boost the growth of the refractories market.

Global Refractories Market: Regional Insights

The global refractories market is geographically divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

Among regions, Asia Pacific is expected to dominate the global refractories market over the forecast period, and this can be attributed to economic growth of countries such as China in the region. The rise in production and consumption rate in the country resulting from the local availability of raw materials is driving the market growth. Moreover, increasing initiatives by government in India is also contributing to the market growth across the region.

Furthermore, North America is also anticipated to witness significant growth in the global refractories market over the forecast period, owing to economic growth of the Unite States and other countries in the region. The rise in trade tariffs is driving the domestic sector of steel production in the country, which in turn is expected to propel growth of the global refractories market over the forecast period. Furthermore, growth of construction industry in Canada is also expected to support the market growth in the near future.

Figure 1. Global Refractories Market Share (%), By Region, 2021

Refractories  | Coherent Market Insights

Global Refractories Market Drivers:

Robust growth in production of iron and steel in developing countries is expected to augment growth of the global refractories market over the forecast period. Refractory materials are resistant to decomposition at high temperatures or to chemical attacks, and are capable of retaining form and strength. These materials are utilized as a primary component in bigger industrial equipment for internal lining, due to their low-maintenance, cost effective operations and their safety. Steel industry requires internal linings to make steel and iron vessels that are used to hold and transport slag and metal. Thus, increasing growth of steel and iron production is likely to boost the demand for refractories, which will drive the market growth.

Furthermore, growing construction activities along with rise in production in end-user industries is projected to augment growth of the global refractories market over the forecast period. Steel and iron are used in several engineering and construction materials. Applications of these materials range from industrial equipment, construction products, cargo ships, and automobiles to refrigerators, washing machines, and surgical scalpels. Thus, increase in construction activities along production in various end-user industries such as tools and machinery, transportation, electrical equipment and more is likely to boost the demand for refractories, which in turn is expected to propel the market growth in the near future.

Global Refractories Market Opportunities:

Growth potential of steel industry in India is expected to offer growth opportunities in the global refractories market over the forecast period. The steel segments accounts for major share of manufacturing output of India. According to Coherent Market Insights, the crude steel and finished steel production in FY2021 was 102.49 MT and 94.66 MT respectively, and it is anticipated to grow to 112-114 MT, which is 8-9% YoY increase, in FY 2022. Due to availability of cost-effective labor and raw materials, along with major investments as well as developments is driving growth of the steel industry of the country. Thus, this is expected to create growth opportunities for market players in the global refractories market in the near future.

Furthermore, rise in number of initiatives taken by governments is also expected to provide market players with growth opportunities in the global refractories market over the forecast period. Governments in emerging countries are increasingly focusing on infrastructure development and road projects, which drives the demand for steel. Moreover, accelerating rural economy and infrastructure is also projected to drive the demand for steel, and this in turn is expected to propel growth of the global refractories market over the forecast period.

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Refractories Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 52,260.0 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 5.0% 2030 Value Projection: US$ 81,072.4 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Non-clay Refractory, Clay Refractory
  • By End-User Industry: Iron and Steel, Energy and Chemicals, Nonferrous Metals, Cement, Ceramics, Glass, and Other End-user Industries
Companies covered:

Puyang Refractories Group Co. Ltd., Chosun Refractories, INTOCAST AG, Harbisonwalker International, Saint-Gobain, IFGL Refractories Ltd., Vesuvius, Imerys, Shinagawa Refractories Co. Ltd., Krosaki Harima Corporation, RHI Magnesita GmbH, Magnezit Group, Resco Products, Minerals Technologies Inc., Refratechnik, and Morgan Advanced Materials.

Growth Drivers:
  • Robust growth in production of iron and steel in developing countries
  • Growing construction activities along with rise in production in end-user industries
Restraints & Challenges:
  • Health and safety issues along with environmental concerns
  • Unfavorable conditions arising from the pandemic

Global Refractories Market Trends:

Rise in production of non-ferrous materials is a growing trend in the global refractories market, which is expected to boost the market growth during the forecast period. Increasing production non-ferrous metals such as zinc, aluminum, copper is creating demand for refractories for internal lining applications in furnace along with other employed equipment. Aluminum is used in various end-use industry applications such as building, construction, aerospace and defense and more. Thus, the trend of growing non-ferrous materials is expected to continue in the market over the forecast period.

Growing refractory customization for catering consumer demand is a major trend in the global refractories market. The development of refractory products by combining different materials is a major change in the market. For instance, magnesia-chrome is formed with combination of magnesia materials and chromium oxide. These products offer superior tolerance and high refractoriness against chemical corrosion. Moreover, products like monolithic that are unshaped are created from additives, aggregates and demand for binders is high in cement and steel industry. The manufacturing of these products is rapidly increasing as per the end-use industry requirement. Thus, this trend is expected to fuel market growth, in the near future.

Global Refractories Market Restraints:

Factors such as health and safety issues along with environmental concerns are anticipated to restrain growth of the global refractories market over the forecast period. The primary pollutant in refractory manufacturing is a particular matter (PM), which is emitted in the procedure of grinding, crushing, screening, drying and calcining of the raw materials. The emissions occurring from grinding and crushing activities can be controlled with the use of fabric filters. However, primary PM sources emission are refractory electric arc furnaces and firing kilns that cannon be controlled. The Particulate matter cause emission as well as firing of crystalline silica, hexavalent chromium and hazardous dust. Thus, these factors are likely to act as hindrance in growth of the global refractories market in the near future.

Adverse impact of Covid-19 pandemic is another factor expected to obstruct growth of the global refractories market over the forecast period. Due to the coronavirus outbreak in China, several industries around the world were adversely impacted. During this period, there was a decline in investments in various ongoing projects in related industries. The pandemic also impacted the global economy. Moreover, during the lockdown period, several manufacturing and other industrial activities were disrupted all over the world. Thus, the unfavorable conditions arising from the pandemic are likely to impede growth of the market in the near future.           

Figure 2. Global Refractories Market Share (%), By Segment Type, 2021

Refractories  | Coherent Market Insights

Global Refractories Market Segmentation:

The global refractories market report is segmented into Product Type, End-User Industry and Region.

Based on Product Type, the market is segmented into Non-clay Refractory, Clay Refractory. Out of which, Non-clay Refractory is expected to dominate the global market over the forecast period and this is attributed to the rise in number of applications and recovering steel industry is boosting the demand for magnesite brick segment in non-clay refractory, which is driving growth of the segment.

Clay Refractory segment is also expected to witness significant growth in the near future and this is owing to the increasing demand for high alumina in clay refractory segment is expected to drive growth of this segment. High alumina refractories include aluminum oxide. These materials are high in demand due to their excellent hardness, high strength, and spalling resistance.

Based on End-User Industry, the market is segmented into Iron and Steel, Energy and Chemicals, Nonferrous Metals, Cement, Ceramics, Glass, and Other End-user Industries. Out of which, Iron and Steel is expected to dominate the global market over the forecast period and this is attributed to the wide range of applications and growing industry around the world. Iron and Steel industry is the major refractories end-user. The applications of refractories in iron and steel industry are in internal lining of furnaces for making iron and steel, for heating steel before other procedures, and to hold and transport metal. Thus, growing steel and iron industry around the world is driving growth of the segment.

Energy and Chemicals segment is also expected to witness significant growth in the near future and this is owing to the growing refining capacity due to rising demand for petroleum products. Several countries across the globe are investing in refining capacity for reducing their dependence on imported refined petroleum products, and this driving the industry of petrochemicals, which in turn supports growth of the segment.

Global Refractories Market: Key Developments

In May 2020, Harbisonwalker International announced the launch of a new series, THORBIDE, which is an aluminum brick consisting silicon carbide. The series includes, UR, XR, HR, and THORBIDE.

In May 2020, IFGL Refractories Ltd. announced that it has lad a foundation stone to establish a new manufacturing plant in India. The first phase of this project is likely to be completed by end of FY2020-2021 involving manufacturing of precast and monolithics shapes.

Global Refractories Market: Key Companies Insights

The global refractories market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global refractories market are Puyang Refractories Group Co. Ltd., Chosun Refractories, INTOCAST AG, Harbisonwalker International, Saint-Gobain, IFGL Refractories Ltd., Vesuvius, Imerys, Shinagawa Refractories Co. Ltd., Krosaki Harima Corporation, RHI Magnesita GmbH, Magnezit Group, Resco Products, Minerals Technologies Inc., Refratechnik, and Morgan Advanced Materials.

*Definition:

Refractories are non-metallic materials that are used for internal lining applications in various non-ferrous production processes. These products are available in different shapes, forms and materials. Usually, they are produced in brick form. These products are used for lining the interiors of coke ovens and blast furnace stoves.

Those materials that have a high resistance to pressure and decomposition due to heat are called refractories. They are materials that are used in the field of materials science. Various types of refractories are used for various purposes. For instance, the iron and steel industry requires refractories for their various industrial processes. Moreover, the power generation industry and the aluminum industry also require refractories. Besides these industries, the refractory industry is also used for construction purposes. Refractories are used to protect metal and other materials from chemical attack and thermal shock. The most common materials used in the production of refractories are alumina and oxides of aluminum. Other examples include zirconia, magnesium oxide, and chrome-magnesia. Refractories are also used as processing aids in various industries.

Market Dynamics:

Increasing demand for steel, cement and glass is driving the growth of the global refractories market. Besides, the growing need for improving health and environment is driving the demand for high performance refractories. The market has witnessed high growth in the other end-use industries as well, which has balanced the overall consumption of the market.

However, the market has been affected by the outbreak of COVID-19. This outbreak was a major cause for the temporary suspension of production in the refractory industry. Moreover, increasing environmental concerns restricting use of refractories is also expected to hamper the market growth.

Key features of the study:

  • This report provides in-depth analysis of the global refractories market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global refractories market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Puyang Refractories Group Co. Ltd., Chosun Refractories, INTOCAST AG, Harbisonwalker International, Saint-Gobain, IFGL Refractories Ltd., Vesuvius, Imerys, Shinagawa Refractories Co. Ltd., Krosaki Harima Corporation, RHI Magnesita GmbH, Magnezit Group, Resco Products, Minerals Technologies Inc., Refratechnik, and Morgan Advanced Materials.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global refractories market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global refractories market

Detailed Segmentation:

  • Global Refractories Market, By Product Type
    • Non-clay Refractory
    • Clay Refractory
  • Global Refractories Market, By End-User Industry
    • Iron and Steel
    • Energy and Chemicals
    • Nonferrous Metals
    • Cement
    • Ceramics
    • Glass
    • Other End-user Industries
  • Global Refractories Market, By Geography
    • Asia-Pacific
    • North America
    • Europe
    • South America
    • Middle East & Africa
  • Company Profiles
    • Chosun Refractories
    • Harbisonwalker International
    • IFGL Refractories Ltd
    • Imerys
    • Krosaki Harima Corporation
    • Magnezit Group
    • Minerals Technologies Inc.
    • Morgan Advanced Materials
    • Refratechnik
    • Resco Products
    • RHI Magnesita GmbH
    • Shinagawa Refractories Co. Ltd
    • Vesuvius
    • Saint-Gobain
    • INTOCAST AG
    • Puyang Refractories Group Co. Ltd

Frequently Asked Questions

The global refractories market size is estimated to be valued at US$ 52,260.4 Million in 2021 and is expected to exhibit a CAGR of 5.0% between 2022 and 2030.
Robust growth in production of iron and steel in developing countries and growing construction activities along with rise in production in end-user industries are fuelling the market.
The Non-clay Refractory segment is the leading component segment in the market.
Health and safety issues along with environmental concerns and unfavorable conditions arising from the pandemic is the major factors restraining market.
Puyang Refractories Group Co. Ltd., Chosun Refractories, INTOCAST AG, Harbisonwalker International, Saint-Gobain, IFGL Refractories Ltd., Vesuvius, Imerys, Shinagawa Refractories Co. Ltd., Krosaki Harima Corporation, RHI Magnesita GmbH, Magnezit Group, Resco Products, Minerals Technologies Inc., Refratechnik, and Morgan Advanced Materials.

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