Refractories Market by Alkalinity (Acidic & Neutral Refractories, Basic Refractories), Physical Form (Shaped Refractories, Unshaped Refractories), Manufacturing Process, Product, Application - Global Forecast 2024-2030
The Refractories Market size was estimated at USD 35.77 billion in 2023 and expected to reach USD 37.73 billion in 2024, at a CAGR 5.62% to reach USD 52.46 billion by 2030.
Refractories are primarily used as linings for furnaces, kilns, reactors, and other processing units exposed to extreme conditions in the manufacturing process. The primary materials used in the production of refractories include alumina, silica, magnesia, graphite, and zirconia. The growth of the refractories market is mainly influenced by factors including continuous expansion of the manufacturing industries across emerging countries and growing infrastructure infrastructure development projects globally with government investments. Moreover, potential opportunities for the refractories market include developing customized application-specific refractory products catering to unique industry requirements, focusing on recycling and reusing spent refractories, and expanding into emerging markets with increasing industrial production capacities. However, the market faces challenges, including limited availability, changing prices of raw materials, and strict government regulations for the usage and manufacturing of refractories. Companies continually invest in research & development, focus on energy-efficient manufacturing processes, explore novel materials or reinforce existing ones, and collaborate with end-use industries to devise customized refractory solutions and overcome these challenges.
Regional Insights
In the Asia-Pacific region, the refractories industry has experienced significant growth due to increasing demand from various end-use industries, including glass-making, metallurgy, and regenerators. The Asia-Pacific region is the largest refractory market, dominated by China, India, and Japan. In recent years, there has been a focus on research and development (R&D) initiatives to create more energy-efficient and environmentally friendly refractory materials. The governments of these countries have laid down favorable policies promoting domestic production. Rising infrastructural development projects across the region contribute significantly to the growth of the refractories sector. In the Americas, the United States and Canada are key markets for refractory products due to their well-established industrial sectors, including automotive manufacturing, aerospace & defense industry, and chemical processing plants, along with high consumption of iron & steel products. The region has witnessed significant automobile production growth, leading to an increased demand for refractory materials in metal casting applications. In EMEA, European Union countries demonstrate an upward trend in advanced refractory material demand due to strict environmental regulations impacting heavy industries. The European Commission's Circular Economy Package promotes sustainable industrial processes that use recycled or secondary raw materials to invest in new technologies. Additionally, progress in refractory solutions meets the demand for lightweight and durable products, mitigating CO2 emissions. The Middle East and Africa regions experience increased investment in R&D initiatives, with upcoming infrastructure projects stimulating growth within the market.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Refractories Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Continuous expansion of the manufacturing industries globally
- Growing infrastructure development activities with government investment
- Market Restraints
- Limited availability and volatility in prices of raw materials
- Market Opportunities
- Increasing research & development activities for recycling of refractories
- Emerging potential toward customized refractories
- Market Challenges
- Stringent regulations by the government for the usage and manufacturing of refractories
- Market Segmentation Analysis
- Alkalinity: Rising use of basic refractories in the steel-making process
- Physical Form: Increasing demand for shaped refractories as they offer greater precision and durability compared to unshaped refractories
- Manufacturing Process: Growing use of formed manufacturing process in the refractory production
- Application: Exponential importance of refractories in metallurgical processes
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Refractories Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Refractories Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Höganäs Borgestad AB Launches Eco-Efficient Refractory Plant In Bjuv, Sweden: A Strategic Move Toward Sustainable Production And Innovation
Höganäs Borgestad AB has embarked on a transformative journey with a new, innovative refractory plant in Bjuv, Sweden. Strategically aligning with sustainable manufacturing practices, the forthcoming facility is designed to bolster efficiency and environmental sustainability. The company's commitment to delivering high-quality, competitive refractory solutions remains paramount throughout this transition. This development underscores a collaborative effort with the Bjuv municipality and promises to enhance Höganäs Borgestad's product offerings while minimizing environmental impact.
Launch of the Single-Piece Precast EAF Delta Roof by IFGL Refractories
IFGL Refractories Limited introduced the Single-Piece Precast EAF Delta Roof, specifically designed for electric arc furnaces of all sizes, to push boundaries and redefine industry standards. With this innovative design and exceptional performance, the cutting-edge roof sets a new benchmark for refractory excellence.
IFGL Refractories Launches New and Advanced Warehouse in Durgapur
IFGL Refractories Limited unveiled a cutting-edge warehouse in Durgapur, India, specifically designed to optimize supply chains for esteemed steel mill partners. This strategic addition enabled the company to ensure the ready availability of premium refractory materials, meeting the unique needs of their clients promptly and efficiently.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Refractories Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Refractories Market, highlighting leading vendors and their innovative profiles. These include AGC Inc., Allied Mineral Products, LLC, Almatis B.V., Alteo, AluChem, Inc., ArcelorMittal S.A., Chosun Refractories Co., Ltd., CoorsTek, Inc., Delta Refractories, Inc., Future Refractories, Galaxy Enterprises, HarbisonWalker International, Inc., Höganäs Borgestad Holding AB, IFGL Refractories Limited, Imerys SA, Intocast AG, Krosaki Harima Corporation, Kyanite Mining Corporation, KYOCERA Corporation, Kümaş Manyezit Sanayi A.Ş., Lhoist Group, Magnezit Group, Morgan Advanced Materials PLC, PPG Industries, Inc., Refmon Industries, Resco Products, Inc., RHI Magnesita GmbH, Ruitai Materials Technology Co.,Ltd., Saint-Gobain S.A., The Refratechnik Group, Trent Refractories Ltd., United Refractories Co., Vesuvius PLC, and Şişecam.
Market Segmentation & Coverage
This research report categorizes the Refractories Market to forecast the revenues and analyze trends in each of the following sub-markets:- Alkalinity
- Acidic & Neutral Refractories
- Alumina Refractories
- Carbon Refractories
- Chromite Refractories
- Fireclay Refractories
- Silica Refractories
- Zirconia Refractories
- Basic Refractories
- Dolomite Refractories
- Magnesite Refractories
- Physical Form
- Shaped Refractories
- Unshaped Refractories
- Manufacturing Process
- Dry Press Process
- Formed
- Fused Cast
- Hand Molded
- Unformed
- Product
- Castables & Mortars
- Ceramic Fibers & Firebricks
- Graphite Blocks
- Insulation Fire Brick
- Application
- Glass Tanks
- Lime & Cement Kilns
- Metallurgical Burners & Furnaces
- Regenerators
- Stoves
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- Alaska
- Arizona
- California
- Georgia
- Michigan
- Missouri
- Montana
- Nevada
- North Dakota
- West Virginia
- Wyoming
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Acidic & Neutral Refractories
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Continuous expansion of the manufacturing industries globally
- 5.1.1.2. Growing infrastructure development activities with government investment
- 5.1.2. Restraints
- 5.1.2.1. Limited availability and volatility in prices of raw materials
- 5.1.3. Opportunities
- 5.1.3.1. Increasing research & development activities for recycling of refractories
- 5.1.3.2. Emerging potential toward customized refractories
- 5.1.4. Challenges
- 5.1.4.1. Stringent regulations by the government for the usage and manufacturing of refractories
- 5.2. Market Segmentation Analysis
- 5.2.1. Alkalinity: Rising use of basic refractories in the steel-making process
- 5.2.2. Physical Form: Increasing demand for shaped refractories as they offer greater precision and durability compared to unshaped refractories
- 5.2.3. Manufacturing Process: Growing use of formed manufacturing process in the refractory production
- 5.2.4. Application: Exponential importance of refractories in metallurgical processes
- 5.3. Market Trend Analysis
- 5.3.1. Growing industrial sector and infrastructure development coupled with government regulations promoting sustainability and safety in refractory materials
- 5.3.2. Increasing R&D investment for advanced materials and processes along with low production costs and favorable business conditions in the Asia-Pacific region
- 5.3.3. Growing refractories production with increased focus on sustainability in the EMEA region
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 6. Refractories Market, by Alkalinity
- 6.1. Introduction
- 6.2. Acidic & Neutral Refractories
- 6.3. Basic Refractories
- 7. Refractories Market, by Physical Form
- 7.1. Introduction
- 7.2. Shaped Refractories
- 7.3. Unshaped Refractories
- 8. Refractories Market, by Manufacturing Process
- 8.1. Introduction
- 8.2. Dry Press Process
- 8.3. Formed
- 8.4. Fused Cast
- 8.5. Hand Molded
- 8.6. Unformed
- 9. Refractories Market, by Product
- 9.1. Introduction
- 9.2. Castables & Mortars
- 9.3. Ceramic Fibers & Firebricks
- 9.4. Graphite Blocks
- 9.5. Insulation Fire Brick
- 10. Refractories Market, by Application
- 10.1. Introduction
- 10.2. Glass Tanks
- 10.3. Lime & Cement Kilns
- 10.4. Metallurgical Burners & Furnaces
- 10.5. Regenerators
- 10.6. Stoves
- 11. Americas Refractories Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Refractories Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Refractories Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. Market Share Analysis, 2023
- 14.2. FPNV Positioning Matrix, 2023
- 14.3. Competitive Scenario Analysis
- 14.3.1. Höganäs Borgestad AB Launches Eco-Efficient Refractory Plant In Bjuv, Sweden: A Strategic Move Toward Sustainable Production And Innovation
- 14.3.2. Launch of the Single-Piece Precast EAF Delta Roof by IFGL Refractories
- 14.3.3. IFGL Refractories Launches New and Advanced Warehouse in Durgapur
- 14.3.4. Materials Processing Institute (MPI) Unveils Three Year Hydrogen Research Agreement with Trent Refractories & Kanthal
- 14.3.5. RHI Magnesita Unveils Revolutionary Acquisition of Seven Refractories
- 14.3.6. RHI Magnesita Annonced Investing INR 3600 Crore in India to Expand Manufacturing Capabilities
- 14.3.7. Vesuvius Group Expected to Invest USD 61 Million to Elevate Refractory Production Capacities in India
- 14.3.8. Cooperation Agreement Aims to Decarbonize Refractories
- 14.3.9. HarbisonWalker International (HWI) Announcement on Acquisition by Platinum Equity for Introducing Sustainable Refractory Industry Growth
- 14.3.10. Raghav Productivity Enhancers and Capital Refractories Partners to Distribute Silica Ramming Mass In International Markets
- 14.3.11. Şişecam Announces Acquisition of Refractory Manufacturer Refel S.p.A.
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.2. Key Product Portfolio
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook