The report on the global refractories market provides qualitative and quantitative analysis for the period from 2021-2030. The revenue generated by the market was USD 21.20 billion in 2022 and is expected to reach 30.09 billion in 2030, with a CAGR of 3.90% till 2030 during the projected period. The study on refractories market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
The refractories market is a specialized sector within the broader materials industry, primarily focused on the production and distribution of refractory materials and products. Refractories are heat-resistant materials used in high-temperature industrial processes, such as steel manufacturing, glassmaking, cement production, and petrochemical refining. They are designed to withstand extreme temperatures, chemical corrosion, and mechanical stress, making them essential components in these industrial applications. The primary catalyst propelling the refractories market is the increasing worldwide need for top-tier steel. The steel industry emerges as a substantial consumer of refractory materials, notably for constructing and upkeeping blast furnaces and steelmaking apparatuses such as converters and ladles. As burgeoning economies undergo urbanization and infrastructure development, the demand for steel persists in a vigorous manner. Moreover, the amplified utilization of electric arc furnaces - dependent on refractories in steel manufacturing, amplifies the necessity for these specialized materials.
The main uses for refractory materials in the iron and steel industry include internal furnace linings to produce iron and steel, furnaces for preheating steel before further processing, vessels for holding and transporting metal and slag, flues or stacks for the conductivity of hot gases, and other uses. As per data released by the World Steel Association for February 2023, a total of 63 countries collectively manufactured approximately 142.4 million metric tonnes (Mt) of crude steel. This data serves as a snapshot of the current global demand trajectory, playing a pivotal role in sustaining steel production activities. Notably, the top 10 nations in steel production for February 2023 are such as China (80.1 Mt), India (10 Mt), Japan (6.9 Mt), the United States (6 Mt), Russia (5.6 Mt), South Korea (5.2 Mt), Germany (3.0 Mt), Brazil (2.5 Mt), Iran (2.4 Mt), and Turkey (2.1 Mt). These notable increases in steel production collectively contribute to the expansion of the refractories market.
In the Asia Pacific region, China has one of the largest industrial and production sectors in the world and has the largest economy. Due to the plentiful supply of raw materials, China controls the production and consumption of refractories. China stands as the foremost global steel manufacturer. For instance, data from the World Steel Association reveals that Chinese steel production is estimated to have surged by 5.6% from February 2022 to reach 80.1 million tons in February 2023. Adding to this, India holds the position of being the world's second-largest crude steel producer. As indicated by the Ministry of Steel, India has established ambitious objectives to achieve a worldwide total crude steel output of 255 million tons by the year 2030-2031. Additionally, based on statistics from the World Steel Association, Japan observed an increase in crude steel production, escalating from 89.2 million tonnes in 2022 as compared to 96.3 million tonnes in 2021. Overall, the demand for refractory materials in the Asia-Pacific area is likely to rise significantly throughout the forecast period.
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the refractories market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global refractories market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
The refractories market is a specialized sector within the broader materials industry, primarily focused on the production and distribution of refractory materials and products. Refractories are heat-resistant materials used in high-temperature industrial processes, such as steel manufacturing, glassmaking, cement production, and petrochemical refining. They are designed to withstand extreme temperatures, chemical corrosion, and mechanical stress, making them essential components in these industrial applications. The primary catalyst propelling the refractories market is the increasing worldwide need for top-tier steel. The steel industry emerges as a substantial consumer of refractory materials, notably for constructing and upkeeping blast furnaces and steelmaking apparatuses such as converters and ladles. As burgeoning economies undergo urbanization and infrastructure development, the demand for steel persists in a vigorous manner. Moreover, the amplified utilization of electric arc furnaces - dependent on refractories in steel manufacturing, amplifies the necessity for these specialized materials.
The main uses for refractory materials in the iron and steel industry include internal furnace linings to produce iron and steel, furnaces for preheating steel before further processing, vessels for holding and transporting metal and slag, flues or stacks for the conductivity of hot gases, and other uses. As per data released by the World Steel Association for February 2023, a total of 63 countries collectively manufactured approximately 142.4 million metric tonnes (Mt) of crude steel. This data serves as a snapshot of the current global demand trajectory, playing a pivotal role in sustaining steel production activities. Notably, the top 10 nations in steel production for February 2023 are such as China (80.1 Mt), India (10 Mt), Japan (6.9 Mt), the United States (6 Mt), Russia (5.6 Mt), South Korea (5.2 Mt), Germany (3.0 Mt), Brazil (2.5 Mt), Iran (2.4 Mt), and Turkey (2.1 Mt). These notable increases in steel production collectively contribute to the expansion of the refractories market.
In the Asia Pacific region, China has one of the largest industrial and production sectors in the world and has the largest economy. Due to the plentiful supply of raw materials, China controls the production and consumption of refractories. China stands as the foremost global steel manufacturer. For instance, data from the World Steel Association reveals that Chinese steel production is estimated to have surged by 5.6% from February 2022 to reach 80.1 million tons in February 2023. Adding to this, India holds the position of being the world's second-largest crude steel producer. As indicated by the Ministry of Steel, India has established ambitious objectives to achieve a worldwide total crude steel output of 255 million tons by the year 2030-2031. Additionally, based on statistics from the World Steel Association, Japan observed an increase in crude steel production, escalating from 89.2 million tonnes in 2022 as compared to 96.3 million tonnes in 2021. Overall, the demand for refractory materials in the Asia-Pacific area is likely to rise significantly throughout the forecast period.
Report Findings
1) Drivers
- Growing demand for refractories in the steel and metal industry due to increasing industrialization and infrastructure development.
- Rising adoption of high-performance refractory materials in the renewable energy sector to support clean energy production processes.
2) Restraints
- Environmental concerns and regulations related to the use of refractory materials are limiting market growth.
3) Opportunities
- Advancements in nanotechnology offer the potential to enhance the performance and longevity of refractory products, opening new avenues in the market.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.The primary respondents are approached include
1. Key Opinion Leaders2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global refractories market is segmented on the basis of form type, product type, fusion temperature, refractory minerals, alkalinity, manufacturing method, and end user.The Global Refractories Market by Form Type
- Bricks
- Monolithic
- Others
The Global Refractories Market by Product Type
- Clay Refractory
- Non-clay Refractory
The Global Refractories Market by Fusion Temperature
- Less than 1580°C
- 1580°C to 1780°C
- 1780°C to 2000°C
- More than 2000°C
The Global Refractories Market by Refractory Minerals
- Silicon
- Aluminium
- Magnesium
- Calcium
- Others
The Global Refractories Market by Alkalinity
- Acid
- Basic
- Neutral
The Global Refractories Market by Manufacturing Method
- Dry Pressing Process
- Fused Cast Process
- Hand Moulding Process
- Others
The Global Refractories Market by End User
- Iron and Steel Industry
- Petrochemicals
- Automotive
- Aerospace
- Others
Company Profiles
The companies covered in the report include- Imerys S.A.
- RHI Magnesita
- POSCO FUTURE M
- Krosaki Harima Corporation
- SHINAGAWA REFRACTORIES CO., LTD.
- Refratechnik
- Plibrico Company, LLC
- INTOCAST AG
- Saint-Gobain
- Other Companies
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the refractories market.2. Complete coverage of all the segments in the refractories market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global refractories market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Refractories Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Refractories Market by Form Type
Chapter 7. Global Refractories Market by Product Type
Chapter 8. Global Refractories Market by Fusion Temperature
Chapter 9. Global Refractories Market by Refractory Minerals
Chapter 10. Global Refractories Market by Alkalinity
Chapter 11. Global Refractories Market by Manufacturing Method
Chapter 12. Global Refractories Market by End User
Chapter 13. Global Refractories Market by Region 2023-2030
Companies Mentioned
- Imerys S.A.
- RHI Magnesita
- POSCO FUTURE M
- Krosaki Harima Corporation
- SHINAGAWA REFRACTORIES CO., LTD.
- Refratechnik
- Plibrico Company, LLC
- INTOCAST AG
- Saint-Gobain
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 450 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 21.2 Billion |
| Forecasted Market Value by 2030 | 30.09 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
