Refractories Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Refractories Market
The Refractories Market size was valued at USD 32.98 billion in 2022, and the market is now projected to grow from USD 34.46 billion in 2023 to USD 47.09 billion by 2030, exhibiting a CAGR of 4.6% during the forecast period of 2024-2032.
The COVID-19 caused a dilemma for the Refractories Market. While refractory product manufacturing was still in demand during pandemic, the disruption in supply chain due to lockdown caused shortage of material such as binders and non-clay sand, along with employee shortage, overall hampered the Refractories Market Growth. Lockdown measure have also caused production slowdown in end-user industries, such as cement and glass, creating a challenge for market with reduced demand from automotive and construction sectors.
The EVs, are gaining popularity with growing automotive industry due to which the vehicle manufacturing materials such as steel, iron, and glass, are on high demand. International Organisation of Motor Vehicle Manufacturers have reported that steel-based products holds 60% of the vehicle’s body structure as compared to glass, which holds only 6% of the body weight. The rising demand for these materials has uplifted the Refractories Market Share. To fulfil the demand of automotive industry, materials are being produced in large number and material uptake from the steel and glass industry has surged as well, rising the overall growth.
The market has shifted towards refractories market and there is rise in developing products from diverse materials. Magnesia-chrome refractory, mainly know for its high refractoriness and resistance to chemical corrosion is made from combination of magnesia materials and chromium oxide. The demand is also high for unshaped products such as monolithic ones, specially made from aggregates, additives, and binders. These products are very useful for the steel and cement industries, specially to line moulds and templates. This ensures consistent temperature insulation across kiln surfaces. Manufacturers are also keeping their focus on customisation of unshaped products to meet specific industry needs.
Comprehensive Analysis of Refractories Market
The Refractories Market and Chemicals & Advanced Materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the materials and chemical benefit management industry. These segmentations are methodically segregated By Form Analysis, By Product Analysis, By Alkalinity Analysis, and By End-Use Industry Analysis. The types of Form include; Bricks & Shaped & Monolithic & Unshaped, type of product includes Clay & Non-Clay, Type of Alkalinity includes Acidic & Neutral & Basic, and end-user includes Iron & Steel, Non-Ferrous Metals, Glass, Cement, & Others.
In year 2022, Asia-Pacific has reached USD 21.36 billion and dominated the Refractories market with its strong presence in various end-use industries. With China being 50% of global contributor is steel population, Asia-Pacific hold 70% of contributor for steel production. This dominating position is maintained by significant presence in cement and non-ferrous metal industries.
The top players in the market play a crucial role in the chemical and material industry assuring industrial prospectus growth and setting market standards. These players include, Saint-Gobain (France), Imerys (France), RHI Magnesita (Austria), POSCO Future M Co., Ltd. (South Korea), KAEFER SE & Co. KG (Germany), Beijing Lier High-Temperature Materials Co., Ltd. (China), HarbisonWalker International (U.S.), Intocast Group (Germany), Alsey Refractories Co. (U.S.), Magnezit Group (Russia), Vesuvius (U.K.), Puyang Refractories Group Co., Ltd. (China), Refratechnik Holding GmbH (Germany), Ruitai Materials Technology Co., Ltd. (China), Plibrico Company, LLC (U.S.), these market players provide a level-playing competitive landscape.
June 2023 – INTOCAST AG announced to acquire EXUS Refractories S.p.A, an Italy-based company named to upgrade a modern technological advancement in its production facility. This acquisition will help the company to strengthen its portfolio of refractory products.
Segmentation Table
Attribute Details
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Unit Volume (Kiloton), Value (USD Billion)
Growth Rate CAGR of 4.6% from 2023 to 2030
Segmentation By Form, Product, Alkalinity, End-Use Industry, and Geography
By Form Bricks & Shaped
Monolithic & Unshaped
By Product Clay
Non-Clay
By Alkalinity Acidic & Neutral
Basic
By End-Use Industry Iron & Steel
Non-Ferrous Metals
Glass
Cement
Others
By Geography North America (By Form, By Product, By Alkalinity, By End-Use Industry, By Country)
- U.S. (By Form)
- Canada (By Form)
Europe (By Form, By Product, By Alkalinity, By End-Use Industry, By Country)
- Russia (By Form)
- Germany (By Form)
- Italy (By Form)
- France (By Form)
- Ukraine (By Form)
- Rest of Europe (By Form)
Asia Pacific (By Form, By Product, By Alkalinity, By End-Use Industry, By Country)
- China (By Form)
- India (By Form)
- Japan (By Form)
- South Korea (By Form)
- Rest of Asia Pacific (By Form)
Latin America (By Form, By Product, By Alkalinity, By End-Use Industry, By Country)
- Brazil (By Form)
- Mexico (By Form)
- Argentina (By Form)
- Rest of Latin America (By Form)
Middle East & Africa (By Form, By Product, By Alkalinity, By End-Use Industry, By Country)
- Turkey (By Form)
- Iran (By Form)
- Egypt Africa (By Form)
- GCC (By Form)
- Rest of Middle East & Africa (By Form)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights on Impact of COVID-19 on Global Refractories Market
- 5.1. Supply Chain Analysis & Challenges due to Covid-19
- 5.2. Steps taken by Government / Companies to Overcome this Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Refractories Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Key Findings / Summary
- 6.2. By Form (Value/Volume)
- 6.2.1. Bricks & Shaped
- 6.2.2. Monolithics & Unshaped
- 6.3. By Product (Value/Volume)
- 6.3.1. Clay
- 6.3.2. Non Clay
- 6.4. By Alkalinity (Value/Volume)
- 6.4.1. Acidic & Neutral
- 6.4.2. Basic
- 6.5. By End-Use Industry (Value/Volume)
- 6.5.1. Iron & Steel
- 6.5.2. Non-Ferrous Metals
- 6.5.3. Glass
- 6.5.4. Cement
- 6.5.5. Others
- 6.6. By Region (Value/Volume)
- 6.6.1. North America
- 6.6.2. Europe
- 6.6.3. Asia Pacific
- 6.6.4. Latin America
- 6.6.5. Middle East & Africa
- 7. North America Refractories Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings / Summary
- 7.2. By Form (Value/Volume)
- 7.2.1. Bricks & Shaped
- 7.2.2. Monolithics & Unshaped
- 7.3. By Product (Value/Volume)
- 7.3.1. Clay
- 7.3.2. Non Clay
- 7.4. By Alkalinity (Value/Volume)
- 7.4.1. Acidic & Neutral
- 7.4.2. Basic
- 7.5. By End-Use Industry (Value/Volume)
- 7.5.1. Iron & Steel
- 7.5.2. Non-Ferrous Metals
- 7.5.3. Glass
- 7.5.4. Cement
- 7.5.5. Others
- 7.6. By Country (Value/Volume)
- 7.6.1. U.S
- 7.6.1.1. By Form
- 7.6.1.1.1. Bricks & Shaped
- 7.6.1.1.2. Monolithics & Unshaped
- 7.6.2. Canada
- 7.6.2.1. By Form
- 7.6.2.1.1. Bricks & Shaped
- 7.6.2.1.2. Monolithics & Unshaped
- 8. Europe Refractories Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings / Summary
- 8.2. By Form (Value/Volume)
- 8.2.1. Bricks & Shaped
- 8.2.2. Monolithics & Unshaped
- 8.3. By Product (Value/Volume)
- 8.3.1. Clay
- 8.3.2. Non Clay
- 8.4. By Alkalinity (Value/Volume)
- 8.4.1. Acidic & Neutral
- 8.4.2. Basic
- 8.5. By End-Use Industry (Value/Volume)
- 8.5.1. Iron & Steel
- 8.5.2. Non-Ferrous Metals
- 8.5.3. Glass
- 8.5.4. Cement
- 8.5.5. Others
- 8.6. By Country (Value/Volume)
- 8.6.1. Russia
- 8.6.1.1. By Form
- 8.6.1.1.1. Bricks & Shaped
- 8.6.1.1.2. Monolithics & Unshaped
- 8.6.2. Germany
- 8.6.2.1. By Form
- 8.6.2.1.1. Bricks & Shaped
- 8.6.2.1.2. Monolithics & Unshaped
- 8.6.3. Italy
- 8.6.3.1. By Form
- 8.6.3.1.1. Bricks & Shaped
- 8.6.3.1.2. Monolithics & Unshaped
- 8.6.4. France
- 8.6.4.1. By Form
- 8.6.4.1.1. Bricks & Shaped
- 8.6.4.1.2. Monolithics & Unshaped
- 8.6.5. Ukraine
- 8.6.5.1. By Form
- 8.6.5.1.1. Bricks & Shaped
- 8.6.5.1.2. Monolithics & Unshaped
- 8.6.6. Rest of Europe
- 8.6.6.1. By Form
- 8.6.6.1.1. Bricks & Shaped
- 8.6.6.1.2. Monolithics & Unshaped
- 9. Asia-Pacific Refractories Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Key Findings / Summary
- 9.2. By Form (Value/Volume)
- 9.2.1. Bricks & Shaped
- 9.2.2. Monolithics & Unshaped
- 9.3. By Product (Value/Volume)
- 9.3.1. Clay
- 9.3.2. Non Clay
- 9.4. By Alkalinity (Value/Volume)
- 9.4.1. Acidic & Neutral
- 9.4.2. Basic
- 9.5. By End-Use Industry (Value/Volume)
- 9.5.1. Iron & Steel
- 9.5.2. Non-Ferrous Metals
- 9.5.3. Glass
- 9.5.4. Cement
- 9.5.5. Others
- 9.6. By Country (Value/Volume)
- 9.6.1. China
- 9.6.1.1. By Form
- 9.6.1.1.1. Bricks & Shaped
- 9.6.1.1.2. Monolithics & Unshaped
- 9.6.2. India
- 9.6.2.1. By Form
- 9.6.2.1.1. Bricks & Shaped
- 9.6.2.1.2. Monolithics & Unshaped
- 9.6.3. Japan
- 9.6.3.1. By Form
- 9.6.3.1.1. Bricks & Shaped
- 9.6.3.1.2. Monolithics & Unshaped
- 9.6.4. South Korea
- 9.6.4.1. By Form
- 9.6.4.1.1. Bricks & Shaped
- 9.6.4.1.2. Monolithics & Unshaped
- 9.6.5. Rest of Asia-Pacific
- 9.6.5.1. By Form
- 9.6.5.1.1. Bricks & Shaped
- 9.6.5.1.2. Monolithics & Unshaped
- 10. Latin America Refractories Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings / Summary
- 10.2. By Form (Value/Volume)
- 10.2.1. Bricks & Shaped
- 10.2.2. Monolithics & Unshaped
- 10.3. By Product (Value/Volume)
- 10.3.1. Clay
- 10.3.2. Non Clay
- 10.4. By Alkalinity (Value/Volume)
- 10.4.1. Acidic & Neutral
- 10.4.2. Basic
- 10.5. By End-Use Industry (Value/Volume)
- 10.5.1. Iron & Steel
- 10.5.2. Non-Ferrous Metals
- 10.5.3. Glass
- 10.5.4. Cement
- 10.5.5. Others
- 10.6. By Country (Value/Volume)
- 10.6.1. Brazil
- 10.6.1.1. By Form
- 10.6.1.1.1. Bricks & Shaped
- 10.6.1.1.2. Monolithics & Unshaped
- 10.6.2. Mexico
- 10.6.2.1. By Form
- 10.6.2.1.1. Bricks & Shaped
- 10.6.2.1.2. Monolithics & Unshaped
- 10.6.3. Argentina
- 10.6.3.1. By Form
- 10.6.3.1.1. Bricks & Shaped
- 10.6.3.1.2. Monolithics & Unshaped
- 10.6.4. Rest of Latin America
- 10.6.4.1. By Form
- 10.6.4.1.1. Bricks & Shaped
- 10.6.4.1.2. Monolithics & Unshaped
- 11. Middle East & Africa Refractories Market Analysis, Insights and Forecast, 2019-2030
- 11.1. Key Findings / Summary
- 11.2. By Form (Value/Volume)
- 11.2.1. Bricks & Shaped
- 11.2.2. Monolithics & Unshaped
- 11.3. By Product (Value/Volume)
- 11.3.1. Clay
- 11.3.2. Non Clay
- 11.4. By Alkalinity (Value/Volume)
- 11.4.1. Acidic & Neutral
- 11.4.2. Basic
- 11.5. By End-Use Industry (Value/Volume)
- 11.5.1. Iron & Steel
- 11.5.2. Non-Ferrous Metals
- 11.5.3. Glass
- 11.5.4. Cement
- 11.5.5. Others
- 11.6. By Country (Value/Volume)
- 11.6.1. Turkey
- 11.6.1.1. By Form
- 11.6.1.1.1. Bricks & Shaped
- 11.6.1.1.2. Monolithics & Unshaped
- 11.6.2. Iran
- 11.6.2.1. By Form
- 11.6.2.1.1. Bricks & Shaped
- 11.6.2.1.2. Monolithics & Unshaped
- 11.6.3. Egypt
- 11.6.3.1. By Form
- 11.6.3.1.1. Bricks & Shaped
- 11.6.3.1.2. Monolithics & Unshaped
- 11.6.4. GCC
- 11.6.4.1. By Form
- 11.6.4.1.1. Bricks & Shaped
- 11.6.4.1.2. Monolithics & Unshaped
- 11.6.5. Rest of Middle East & Africa
- 11.6.5.1. By Form
- 11.6.5.1.1. Bricks & Shaped
- 11.6.5.1.2. Monolithics & Unshaped
- 12. Company Profiles
- 12.1. Beijing Lier High Temperature Materials Co., Ltd. (China)
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. HarbinsonWalker International (U.S.)
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Intocast Group (Germany)
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Alsey Refractories Co. (U.S.)
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Magnezit Group (Russia)
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Imerys (France)
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Posco Chemical (South Korea)
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. RHI Magnesita (Austria)
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Saint-Gobain (France)
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Vesuvius (UK)
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 12.11. Puyang Refractories Group Co., Ltd. (China)
- 12.11.1. Overview
- 12.11.2. Description
- 12.11.3. Product Portfolio
- 12.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.11.5. Recent Developments
- 12.12. Refratechnik (Germany)
- 12.12.1. Overview
- 12.12.2. Description
- 12.12.3. Product Portfolio
- 12.12.4. Financials (Data as available in public domain and/or on paid databases)
- 12.12.5. Recent Developments
- 12.13. Ruitai Materials Technology Co., Ltd. (China)
- 12.13.1. Overview
- 12.13.2. Description
- 12.13.3. Product Portfolio
- 12.13.4. Financials (Data as available in public domain and/or on paid databases)
- 12.13.5. Recent Developments
- 12.14. Kaefer (Norway)
- 12.14.1. Overview
- 12.14.2. Description
- 12.14.3. Product Portfolio
- 12.14.4. Financials (Data as available in public domain and/or on paid databases)
- 12.14.5. Recent Developments
- 12.15. Plibrico Company, LLC (U.S.)
- 12.15.1. Overview
- 12.15.2. Description
- 12.15.3. Product Portfolio
- 12.15.4. Financials (Data as available in public domain and/or on paid databases)
- 12.15.5. Recent Developments
- 12.16. Other Key Players
- 12.16.1. Overview
- 12.16.2. Description
- 12.16.3. Product Portfolio
- 12.16.4. Financials (Data as available in public domain and/or on paid databases)
- 12.16.5. Recent Developments
- 13. Strategic Recommendations
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