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Refractories - Global Strategic Business Report

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    Report

  • 494 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338433

Global Refractories Market to Reach $34 Billion by 2030

The global market for Refractories estimated at US$25.4 Billion in the year 2022, is projected to reach a revised size of US$34 Billion by 2030, growing at a CAGR of 3.7% over the analysis period 2022-2030. Bricks & Shapes, one of the segments analyzed in the report, is projected to record 3.4% CAGR and reach US$18.8 Billion by the end of the analysis period. Growth in the Monolithics & Others segment is estimated at 4.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 4.4% CAGR

The Refractories market in the U.S. is estimated at US$1.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$19.7 Billion by the year 2030 trailing a CAGR of 4.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3% and 1.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

Select Competitors (Total 104 Featured)

  • China National BlueStar (Group) Co., Ltd.
  • ITOCHU Corporation
  • Carborundum Universal Ltd.
  • Aremco Products, Inc.
  • Lhoist Group
  • BNZ Materials, Inc.
  • Almatis GmbH
  • Keith Co., Inc.
  • LKAB Minerals AB
  • IRONWORKS LLC
  • Dalmia Bharat Group
  • Insulcon BV
  • Cerco Corporation
  • LKAB
  • China Metallurgical Information and Standardization Institute (CMISI)

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Refractories Market

What is the estimated value of the Refractories Market?

The Refractories Market was estimated to be valued at $25.4 Billion in 2022.

What is the growth rate of the Refractories Market?

The growth rate of the Refractories Market is 3.7%, with an estimated value of $34 Billion by 2030.

What is the forecasted size of the Refractories Market?

The Refractories Market is estimated to be worth $34 Billion by 2030.

Who are the key companies in the Refractories Market?

Key companies in the Refractories Market include China National BlueStar (Group) Co., Ltd., ITOCHU Corporation, Carborundum Universal Ltd., Aremco Products, Inc., Lhoist Group, BNZ Materials, Inc., Almatis GmbH, Keith Co., Inc., LKAB Minerals AB and IRONWORKS LLC.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Drop in Steel Demand Sets Major Impact on Refractory Business
  • Steel Demand in Million Metric Tons: 2018-2021
  • Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage the Refractories Market
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Industrial Activity to Remain Subdued in the Immediate Term, Inducing Weakness into Refractories Market
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Business Climate Indicator in the Euro Area for the Period June 2019 to May 2020
  • Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
  • Revival in Construction Activity and Ensuing Demand for Iron and Steel to Improve Growth Prospects
  • Global Construction Spending (In US$ Trillion) for the Years 2019, 2020, & 2021
  • Refractories: A Prelude
  • Features and Benefits
  • Refractory Products by Form
  • Refractory Products by Material
  • Market Outlook
  • Regional Outlook
  • Key Drivers of Refractories by End-Use Sector
  • Monolithics to Outshine Bricks and Shapes
  • Non-Ferrous and Non-Metallic Applications Gain Growth
  • Refractories - Global Key Competitors Percentage Market Share in 2023 (E)
  • Refractory Production Landscape
  • Global Refractory Production Breakdown by Country/Region: 2019
  • Competition
  • Global Refractories Industry in Consolidation Mode
  • Market Share of Leading Players in the World Refractories Market: 2019
  • Recent Market Activity
  • World Brands
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Supplies and Pricing Volatilities Constrain the Refractories Market Worldwide
  • Influx of New Preparation Technologies to Transform Refractory Materials
  • Nanomaterials Gain Interest in Refractory Industry
  • Demand for Efficient and Durable Refractories on Rise
  • Raw Materials Play an Important Role in Determining Prices
  • Alternative Minerals to Witness Increased Adoption as Bauxite Supply Drops
  • Refractories: A Major End-Use Market for Natural Graphite
  • Major Markets for Flake Graphite Worldwide (2019): Percentage Breakdown of Volume Consumption by End-Use Sector
  • Companies Test Other Regions for Mining of Graphite
  • World Natural Graphite Production (2019): Percentage Breakdown of Production for Leading Countries
  • Refractory Manufacturers to Invest in Graphite Mines to Tackle Rising Graphite Prices
  • Focus on New Sources of Magnesia on Rise
  • World Refractory Magnesia Demand (2019): Percentage Breakdown of Volume Consumption by Region
  • Kyanite and Other Related Minerals Gain Interest
  • Customization of Refractories Catches On
  • A Highly Fragmented Marketplace Benefits Raw Material Suppliers
  • Demand for Efficient and Durable Refractories Rises
  • Market Dynamics of Major End-Use Sectors
  • Iron & Steel
  • World Crude Steel Production (2014-2021): Volume Output in Million Metric Tons
  • China Holds the Key for Future Growth of Steel Industry
  • Export
  • Leading Steel Exporting Countries (in Million Metric Tons) :2019
  • Leading Steel Importing Countries (in Million Metric Tons) : 2019
  • Cement
  • Leading Cement Producing Countries Worldwide (2019): Annual Volume Output in Million Tons
  • Glass Manufacturing
  • Growth Drivers for Flat Glass Industry: On a Scale 1-10 (10 - High Impact; 1 - Low Impact)
  • Ceramic Tiles
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Refractories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Refractories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Refractories by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Bricks & Shapes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Bricks & Shapes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Bricks & Shapes by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Monolithics & Others by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Monolithics & Others by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Monolithics & Others by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Clay Refractories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Clay Refractories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for Clay Refractories by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Non-Clay Refractories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Non-Clay Refractories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Non-Clay Refractories by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Iron & Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Iron & Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Iron & Steel by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Non-Metallic Materials by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Non-Metallic Materials by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for Non-Metallic Materials by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Non-Ferrous Metals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Non-Ferrous Metals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 24: World 16-Year Perspective for Non-Ferrous Metals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 25: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 26: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 27: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 28: World Refractories Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Market Analytics
  • Market Overview
  • Immediate Market Prospects Remain Sluggish
  • Market Demand Largely Dictated by Trends in the Steel Sector
  • US Annual Crude Steel Production in Million Tonnes: 2011-2019
  • COVID-19 Casts Shadow on the US Construction Sector, Curtails Steel Demand
  • Construction Spending Trends : July 2019 - June 2020
  • Residential Construction in the US (Jan 2020-June 2020): Number of Housing Starts in Thousand Units by Type for Single-Family Units and Multi-Family Units
  • Residential Construction in the US (2008-2019): Number of Housing Starts in Thousand Units by Type for Single-Family Units and Multi-Family Units
  • Number of States Limiting the Construction Industry due to COVID-19 as of April 2020
  • Favorable Outlook for Construction Materials Post COVID-19 Pandemic Augurs Well
  • Refractories: Major Application of Graphite in the US
  • Evolution of US Clay and Non Clay Refractories Industry: A Historical Perspective
  • Market Trends
  • Non-Clay Refractories to Make Gains
  • Advanced and Specialty Products Garner Consumer Interest
  • Monolithic Refractories Seek Novel Opportunities
  • Competitive Scenario
  • Market Share of Leading Players in the US Refractories Market: 2019
  • CANADA
  • JAPAN
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Market Overview
  • Despite COVID-19 Scare, China to Remain the Most Important Refractories Market
  • Refractory Raw Materials in China
  • Geographic Distribution of Refractory Producers
  • End-use Sectors
  • Steel Production in China (2011-2019) (in Million Tons
  • Steel Production in China (2011-2019) (in Million Tons
  • Chinese Refractories Industry to Consolidate in Future
  • Eco-Refractories to Foray into the Market
  • Magnesia Supply Weakens in China
  • Market Analytics
  • EUROPE
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Market Overview
  • Refractories Market in Europe to take a Hit Amid COVID-19 Outbreak
  • Steel Industry: An Integral Part of European Economy
  • Finished Steel Production in EU by Type (2019): Percentage Breakdown of Volume Production by Type
  • Recovery in Construction Activity Post COVID-19 Period to Sustain Growth in Steel Sector
  • Challenges Facing the Market
  • Crude Steel Production in Key European Markets: Annual Output in Million Tonnes for Years 2018 & 2019
  • Market Analytics
  • FRANCE
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • Market Overview
  • Government Initiatives to Boost Steel Industry Favor Growth in the Refractories Market
  • Anticipated Recovery in Construction Activity to Promote Demand for Steel
  • Market Analytics
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Steel Production in Asia
  • Crude Steel Production in Select Countries in Asia-Pacific: Annual Output in Million Tonnes for Years 2018 & 2019
  • Market Analytics
  • INDIA
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • Market Overview
  • Evolution of Refractory Market in India
  • Challenges Facing the Indian Refractories Market
  • Efforts to Recycle, Reuse and Eliminate Refractory Waste
  • Indian Steel Market: A Review
  • Competitive Landscape
  • Market Analytics
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Refractories Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • Market Overview
  • BRAZIL
  • REST OF LATIN AMERICA
  • REST OF WORLD
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • China National BlueStar (Group) Co., Ltd.
  • ITOCHU Corporation
  • Carborundum Universal Ltd.
  • Aremco Products, Inc.
  • Lhoist Group
  • BNZ Materials, Inc.
  • Almatis GmbH
  • Keith Co., Inc.
  • LKAB Minerals AB
  • IRONWORKS LLC
  • Dalmia Bharat Group
  • Insulcon BV
  • Cerco Corporation
  • LKAB
  • China Metallurgical Information and Standardization Institute (CMISI)