Refractory Material Market Forecasts to 2030 – Global Analysis By Form (Unshaped and Shaped), Chemical Composition (Alumina, Magnesia and Silica), End User (Metals and Metallurgy, Power Generation and Other End Users) and By Geography

Refractory Material Market Forecasts to 2030 – Global Analysis By Form (Unshaped and Shaped), Chemical Composition (Alumina, Magnesia and Silica), End User (Metals and Metallurgy, Power Generation and Other End Users) and By Geography


According to Stratistics MRC, the Global Refractory Material Market is accounted for $23.6 billion in 2024 and is expected to reach $34.1 billion by 2030 growing at a CAGR of 6.3% during the forecast period. Refractory materials are high-temperature-resistant substances used to line furnaces, kilns, reactors, and other high-heat equipment. They are designed to withstand extreme temperatures and harsh conditions without deteriorating or losing structural integrity. Commonly composed of ceramics, minerals, and metals, these materials have a melting point significantly higher than the operating temperatures of the equipment they protect.

According to a report published by the National Investment Promotion and Facilitation Agency, the construction output in India is expected to grow by 7.1% year-on-year by 2025.

Market Dynamics:

Driver:

Infrastructure development

Infrastructure development is significantly advancing the field of refractory materials by driving innovations and improvements in their production and application. As industries evolve and demand for high-performance materials increases, modern infrastructure projects require refractories with superior durability, thermal resistance, and cost-effectiveness. Enhanced manufacturing techniques, such as advanced ceramic processing and improved raw material quality, are being employed to meet these demands. Additionally, infrastructure development fosters better testing and quality control facilities, ensuring that refractory materials can withstand extreme conditions, such as high temperatures and corrosive environments, with greater reliability.

Restraint:

Fluctuations in the prices of raw materials

Fluctuations in the prices of raw materials significantly impact the refractory material industry, causing instability and financial strain. Refractory materials, essential for withstanding high temperatures in industrial processes like metal smelting and glass manufacturing, rely on key raw materials such as alumina, silica, and magnesia. When the prices of these inputs fluctuate due to factors like supply chain disruptions, geopolitical tensions, or changes in mining regulations, the cost of producing refractories becomes unpredictable. This unpredictability complicates budgeting and financial planning for manufacturers, potentially leading to increased costs for consumers and reduced profitability for producers.

Opportunity:

Growth in emerging economies

As countries like India, China, and Brazil advance economically, they are investing heavily in sectors such as steel production, cement manufacturing, and power generation, which are all major consumers of refractory materials. These materials, crucial for withstanding high temperatures and corrosive environments, are essential for maintaining efficiency and longevity in industrial processes. The surge in construction and industrial projects in these emerging markets drives demand for advanced refractory solutions to ensure operational stability and performance.

Threat:

Maintenance and durability issues

Refractory materials, designed to withstand extreme temperatures and corrosive environments, often face significant maintenance and durability challenges. These materials are critical in industries such as metallurgy and ceramics, where they line furnaces, kilns, and reactors. Over time, exposure to high temperatures, thermal cycling, and chemical attack can lead to wear and degradation. However, common issues include cracking, spalling, and erosion, which compromise the material's integrity and performance. Maintenance becomes crucial as these failures can lead to operational inefficiencies, increased downtime, and costly repairs.

Covid-19 Impact:

The COVID-19 pandemic had a significant impact on the refractory material industry, affecting both supply and demand. The global disruption led to widespread shutdowns and restrictions that interrupted manufacturing processes and logistics, causing delays in the production and delivery of refractory materials essential for high-temperature industrial applications. The economic uncertainty reduced capital investments in construction and infrastructure projects, leading to decreased demand for these materials. Supply chain challenges also arose from raw material shortages and transportation bottlenecks, further exacerbating the industry's difficulties.

The Shaped segment is expected to be the largest during the forecast period

Shaped segment is expected to be the largest during the forecast period. Shaped segment play a crucial role in enhancing the performance of refractory materials by providing targeted structural support and improved thermal efficiency. These segments are custom-designed components that fit into specific parts of high-temperature equipment, such as furnaces, kilns, and reactors. By using shaped segments, manufacturers can optimize the distribution of heat and reduce thermal stress on refractory linings. This tailored approach helps to prevent premature wear and damage, extending the lifespan of the refractory material.

The Power Generation segment is expected to have the highest CAGR during the forecast period

Power Generation segment is expected to have the highest CAGR during the forecast period. In the Power Generation sector, enhancing refractory materials is crucial for improving the efficiency and longevity of energy production systems. Refractory materials are high-temperature resistant substances used to line furnaces, reactors, and other high-heat environments. The focus on enhancing these materials involves developing advanced compositions that can withstand extreme temperatures and corrosive environments, thereby reducing maintenance costs and extending equipment life. Innovations in refractory technology include incorporating advanced ceramics, composites, and nanomaterials to improve thermal stability, mechanical strength and resistance to thermal shock.

Region with largest share:

Asia Pacific region commanded the largest share of the market over the extrapolated period. Innovations such as automation, precision engineering and the integration of artificial intelligence have revolutionized the production processes, enhancing efficiency, quality and scalability across the region. These advanced techniques enable the creation of highly durable and heat-resistant refractory materials, which are essential for industries like steelmaking, glass production, and non-ferrous metals throughout the region. Additionally, the shift towards more sophisticated manufacturing methods supports the development of customized solutions tailored to specific industrial needs, driving competitiveness and fostering regional advancements.

Region with highest CAGR:

Europe region is poised to hold profitable growth during the projected period. In Europe, government regulations are substantially enhancing the refractory material industry by driving advancements in environmental sustainability, safety and innovation. Stringent environmental regulations mandate the reduction of emissions and waste associated with refractory production, prompting manufacturers to develop more eco-friendly materials and processes across the region. Compliance with these regulations often leads to improved energy efficiency and reduced environmental impact, aligning with the European Union’s broader climate goals.

Key players in the market

Some of the key players in Refractory Material market include IFGL Refractories Limited, Dalmia Bharat Group, JSW Steel Ltd, Krosaki Harima Corporation, Lanexis Enterprises (P) Ltd, Luyang Energy-Saving Materials Co., Ltd, Puyang Refractories Group Co., Ltd, RHI Magnesita GmbH, SGL Carbon SE and Shinagawa Refractories Co., Ltd.

Key Developments:

In October 2023, RHI Magnesita and Techint Engineering & Construction (TEC) formed a strategic alliance to develop and implement innovative refractory solutions for the steel industry, focusing on energy efficiency and sustainability.

In September 2023, Morgan Advanced Materials acquired the Ceramics Division of A.P. Green Industries, Inc., a major US producer of refractory materials, for $350 million. This acquisition expands Morgan's presence in the North American market and strengthens its offerings in the steel and glass industries.

In August 2023, Saint-Gobain and HarbisonWalker International announced a collaboration to explore the potential of combining their refractory materials technologies for advanced applications in the energy and aerospace sectors.

In July 2023, Saint-Gobain acquired the Refractory Materials Division of Corning Incorporated, a manufacturer of high-performance refractory materials for the electronics and semiconductor industries, for $275 million. This acquisition expands Saint-Gobain's presence in the high-tech materials market.

In June 2023, Refractory Solutions Group partnered with Siemens AG to leverage digital technologies and AI-powered solutions to optimize the performance and lifespan of refractory linings in industrial furnaces.

Forms Covered:
• Unshaped
• Shaped

Chemical Compositions Covered:
• Alumina
• Magnesia
• Silica

End Users Covered:
• Metals and Metallurgy
• Power Generation
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Refractory Material Market, By Form
5.1 Introduction
5.2 Unshaped
5.3 Shaped
6 Global Refractory Material Market, By Chemical Composition
6.1 Introduction
6.2 Alumina
6.3 Magnesia
6.4 Silica
7 Global Refractory Material Market, By End User
7.1 Introduction
7.2 Metals and Metallurgy
7.3 Power Generation
7.4 Other End Users
8 Global Refractory Material Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 IFGL Refractories Limited
10.2 Dalmia Bharat Group
10.3 JSW Steel Ltd
10.4 Krosaki Harima Corporation
10.5 Lanexis Enterprises (P) Ltd
10.6 Luyang Energy-Saving Materials Co., Ltd
10.7 Puyang Refractories Group Co., Ltd
10.8 RHI Magnesita GmbH
10.9 SGL Carbon SE
10.10 Shinagawa Refractories Co., Ltd
List of Tables
Table 1 Global Refractory Material Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Refractory Material Market Outlook, By Form (2022-2030) ($MN)
Table 3 Global Refractory Material Market Outlook, By Unshaped (2022-2030) ($MN)
Table 4 Global Refractory Material Market Outlook, By Shaped (2022-2030) ($MN)
Table 5 Global Refractory Material Market Outlook, By Chemical Composition (2022-2030) ($MN)
Table 6 Global Refractory Material Market Outlook, By Alumina (2022-2030) ($MN)
Table 7 Global Refractory Material Market Outlook, By Magnesia (2022-2030) ($MN)
Table 8 Global Refractory Material Market Outlook, By Silica (2022-2030) ($MN)
Table 9 Global Refractory Material Market Outlook, By End User (2022-2030) ($MN)
Table 10 Global Refractory Material Market Outlook, By Metals and Metallurgy (2022-2030) ($MN)
Table 11 Global Refractory Material Market Outlook, By Power Generation (2022-2030) ($MN)
Table 12 Global Refractory Material Market Outlook, By Other End Users (2022-2030) ($MN)
Table 13 North America Refractory Material Market Outlook, By Country (2022-2030) ($MN)
Table 14 North America Refractory Material Market Outlook, By Form (2022-2030) ($MN)
Table 15 North America Refractory Material Market Outlook, By Unshaped (2022-2030) ($MN)
Table 16 North America Refractory Material Market Outlook, By Shaped (2022-2030) ($MN)
Table 17 North America Refractory Material Market Outlook, By Chemical Composition (2022-2030) ($MN)
Table 18 North America Refractory Material Market Outlook, By Alumina (2022-2030) ($MN)
Table 19 North America Refractory Material Market Outlook, By Magnesia (2022-2030) ($MN)
Table 20 North America Refractory Material Market Outlook, By Silica (2022-2030) ($MN)
Table 21 North America Refractory Material Market Outlook, By End User (2022-2030) ($MN)
Table 22 North America Refractory Material Market Outlook, By Metals and Metallurgy (2022-2030) ($MN)
Table 23 North America Refractory Material Market Outlook, By Power Generation (2022-2030) ($MN)
Table 24 North America Refractory Material Market Outlook, By Other End Users (2022-2030) ($MN)
Table 25 Europe Refractory Material Market Outlook, By Country (2022-2030) ($MN)
Table 26 Europe Refractory Material Market Outlook, By Form (2022-2030) ($MN)
Table 27 Europe Refractory Material Market Outlook, By Unshaped (2022-2030) ($MN)
Table 28 Europe Refractory Material Market Outlook, By Shaped (2022-2030) ($MN)
Table 29 Europe Refractory Material Market Outlook, By Chemical Composition (2022-2030) ($MN)
Table 30 Europe Refractory Material Market Outlook, By Alumina (2022-2030) ($MN)
Table 31 Europe Refractory Material Market Outlook, By Magnesia (2022-2030) ($MN)
Table 32 Europe Refractory Material Market Outlook, By Silica (2022-2030) ($MN)
Table 33 Europe Refractory Material Market Outlook, By End User (2022-2030) ($MN)
Table 34 Europe Refractory Material Market Outlook, By Metals and Metallurgy (2022-2030) ($MN)
Table 35 Europe Refractory Material Market Outlook, By Power Generation (2022-2030) ($MN)
Table 36 Europe Refractory Material Market Outlook, By Other End Users (2022-2030) ($MN)
Table 37 Asia Pacific Refractory Material Market Outlook, By Country (2022-2030) ($MN)
Table 38 Asia Pacific Refractory Material Market Outlook, By Form (2022-2030) ($MN)
Table 39 Asia Pacific Refractory Material Market Outlook, By Unshaped (2022-2030) ($MN)
Table 40 Asia Pacific Refractory Material Market Outlook, By Shaped (2022-2030) ($MN)
Table 41 Asia Pacific Refractory Material Market Outlook, By Chemical Composition (2022-2030) ($MN)
Table 42 Asia Pacific Refractory Material Market Outlook, By Alumina (2022-2030) ($MN)
Table 43 Asia Pacific Refractory Material Market Outlook, By Magnesia (2022-2030) ($MN)
Table 44 Asia Pacific Refractory Material Market Outlook, By Silica (2022-2030) ($MN)
Table 45 Asia Pacific Refractory Material Market Outlook, By End User (2022-2030) ($MN)
Table 46 Asia Pacific Refractory Material Market Outlook, By Metals and Metallurgy (2022-2030) ($MN)
Table 47 Asia Pacific Refractory Material Market Outlook, By Power Generation (2022-2030) ($MN)
Table 48 Asia Pacific Refractory Material Market Outlook, By Other End Users (2022-2030) ($MN)
Table 49 South America Refractory Material Market Outlook, By Country (2022-2030) ($MN)
Table 50 South America Refractory Material Market Outlook, By Form (2022-2030) ($MN)
Table 51 South America Refractory Material Market Outlook, By Unshaped (2022-2030) ($MN)
Table 52 South America Refractory Material Market Outlook, By Shaped (2022-2030) ($MN)
Table 53 South America Refractory Material Market Outlook, By Chemical Composition (2022-2030) ($MN)
Table 54 South America Refractory Material Market Outlook, By Alumina (2022-2030) ($MN)
Table 55 South America Refractory Material Market Outlook, By Magnesia (2022-2030) ($MN)
Table 56 South America Refractory Material Market Outlook, By Silica (2022-2030) ($MN)
Table 57 South America Refractory Material Market Outlook, By End User (2022-2030) ($MN)
Table 58 South America Refractory Material Market Outlook, By Metals and Metallurgy (2022-2030) ($MN)
Table 59 South America Refractory Material Market Outlook, By Power Generation (2022-2030) ($MN)
Table 60 South America Refractory Material Market Outlook, By Other End Users (2022-2030) ($MN)
Table 61 Middle East & Africa Refractory Material Market Outlook, By Country (2022-2030) ($MN)
Table 62 Middle East & Africa Refractory Material Market Outlook, By Form (2022-2030) ($MN)
Table 63 Middle East & Africa Refractory Material Market Outlook, By Unshaped (2022-2030) ($MN)
Table 64 Middle East & Africa Refractory Material Market Outlook, By Shaped (2022-2030) ($MN)
Table 65 Middle East & Africa Refractory Material Market Outlook, By Chemical Composition (2022-2030) ($MN)
Table 66 Middle East & Africa Refractory Material Market Outlook, By Alumina (2022-2030) ($MN)
Table 67 Middle East & Africa Refractory Material Market Outlook, By Magnesia (2022-2030) ($MN)
Table 68 Middle East & Africa Refractory Material Market Outlook, By Silica (2022-2030) ($MN)
Table 69 Middle East & Africa Refractory Material Market Outlook, By End User (2022-2030) ($MN)
Table 70 Middle East & Africa Refractory Material Market Outlook, By Metals and Metallurgy (2022-2030) ($MN)
Table 71 Middle East & Africa Refractory Material Market Outlook, By Power Generation (2022-2030) ($MN)
Table 72 Middle East & Africa Refractory Material Market Outlook, By Other End Users (2022-2030) ($MN)

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