According to IMARC Group’s latest report, titled “Refractories Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027,” The global refractories market reached a value of US$ 24.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 31.7 Billion by 2027, exhibiting a CAGR of 4.4% during 2022-2027.

Refractories are non-metallic, porous, inorganic, and heterogeneous materials designed to withstand high industrial pressures and temperatures. These materials can be divided into several types, including fireclay, magnesite, chromite, high alumina minerals, silica, etc. Refractories are manufactured using substances that are adherent to corrosion from solids, liquids, gases, mechanical and thermal stress, abrasion, gas diffusion, etc. They are used in furnaces and boilers to contain heat and protect the processing equipment from intense temperatures. As a result, refractories find widespread applications across various sectors, such as iron, steel, energy, chemical, manufacturing, non-ferrous metals, glass, cement, ceramics, etc.

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Market Trends

The expanding steel sector across countries is one of the primary factors driving the refractories market. Besides this, the escalating utilization of refractories in the construction sector, on account of their high temperature resistance and convenience for installation, is further augmenting the market growth. Apart from this, the increasing infrastructural activities, especially in developing nations, are also catalyzing the global market. Moreover, the emerging trend of recycling these materials and the elevating technological advancements are acting as significant growth-inducing factors. Furthermore, the growing requirement for non-ferrous metals and the rising usage of automotive, aerospace, electrical, and medical castings are expected to propel the refractories market in the coming years. 

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List of Key Companies Covered in this Market Report:

• Chosun Refractories Eng Co. Ltd.
• Compagnie de Saint-Gobain S.A.
• Coorstek Inc.
• Imerys Usa Inc.
• Krosaki Harima Corporation
• Morgan Advanced Materials Plc
• Refratechnik Holding GmbH
• RHI Magnesita GmbH
• Vesuvius Plc

The report has segmented on the basis of form, alkalinity, manufacturing process, composition, refractory mineral and geography

Breakup by Form:

• Shaped Refractories
• Unshaped Refractories

Breakup by Alkalinity:

• Acidic and Neutral
• Basic

Breakup by Manufacturing Process:

• Dry Press Process
• Fused Cast
• Hand Molded
• Formed
• Unformed

Breakup by Composition:

• Clay-Based
• Nonclay-Based

Breakup by Refractory Mineral:

• Graphite
• Magnesite
• Chromite
• Silica
• High Alumina
• Zirconia
• Others

Breakup by Application:

• Iron and Steel
• Cement
• Non-Ferrous Metals
• Glass
• Others

Breakup by Geography:

• North America (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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