Global Steel Refining Agent Market Growth 2025-2031

The global Steel Refining Agent market size is predicted to grow from US$ 580 million in 2025 to US$ 660 million in 2031; it is expected to grow at a CAGR of 2.2% from 2025 to 2031.

The molten steel refining agent is widely used in the smelting and casting industries. It is aimed at the refining of stainless steel, carbon steel, alloy steel, special steel and other steel types in steel mills and precision foundries. It is composed of many alloying elements and various activation elements.

Steel refining agents are widely used in the metallurgical industry due to their convenient use and the advantages they offer in improving the quality of molten steel. They are capable of removing metallic impurities and non-metallic inclusions from the steel, including harmful substances such as oxides, reducers, sulfur compounds, and silicate compounds. In general steelmaking processes, it is difficult to remove inclusions from the molten steel. If these inclusions are not eliminated, defects such as slag holes, slag inclusions, cracks, and gaps may appear on the castings. Steel refining agents can refine the grain structure, enhance the fluidity of the molten steel, and prevent the formation of nodules, cold shuts, and shrinkage porosity (rounded corners, concave corners) in castings, resulting in a smooth and flat surface of the castings. Refining agents also have the functions of slag formation, deoxidation, and removal of gases (oxygen, hydrogen, nitrogen) from the molten steel, thereby improving the yield of finished steel products (3-5%). It is recommended to use 3-5 kilograms of refining agent per ton of molten steel.

LP Information, Inc. (LPI) ' newest research report, the “Steel Refining Agent Industry Forecast” looks at past sales and reviews total world Steel Refining Agent sales in 2024, providing a comprehensive analysis by region and market sector of projected Steel Refining Agent sales for 2025 through 2031. With Steel Refining Agent sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Steel Refining Agent industry.

This Insight Report provides a comprehensive analysis of the global Steel Refining Agent landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Steel Refining Agent portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Steel Refining Agent market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Steel Refining Agent and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Steel Refining Agent.

This report presents a comprehensive overview, market shares, and growth opportunities of Steel Refining Agent market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Hybrid
Premelted
Sintered

Segmentation by Application:
Steelmaking
Chemical Industry
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Xixia Longcheng Metallurgical Materials
Maanshan Caiyu Metallurgical Materials Technology
Changxing Cast Steel Metallurgy
Hongxiang Zhongke (Liaoning) Refractories
Qufu Vanguard Casting
Pyrotek
JAP
IPC Refractories
Zhenjiang Zhengyuan Metallurgy Material

Key Questions Addressed in this Report

What is the 10-year outlook for the global Steel Refining Agent market?

What factors are driving Steel Refining Agent market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Steel Refining Agent market opportunities vary by end market size?

How does Steel Refining Agent break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.