Global Refractories Market to Reach USD 38.8 Billion by 2033, Impelled by Escalating Demand from the Iron and Steel Sectors

January 06, 2025 | Chemical & Materials

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IMARC Group’s latest report, titled “Refractories Market Report by Form (Shaped Refractories, Unshaped Refractories), Alkalinity (Acidic and Neutral, Basic), Manufacturing Process (Dry Press Process, Fused Cast, Hand Molded, Formed, Unformed), Composition (Clay-Based, Nonclay-Based), Refractory Mineral (Graphite, Magnesite, Chromite, Silica, High Alumina, Zirconia, and Others), Application (Iron and Steel, Cement, Non-Ferrous Metals, Glass, and Others), and Region 2025-2033,” finds that the global refractories market size reached USD 27.6 Billion in 2024. Refractories are inorganic, non-metallic, porous, and heterogeneous materials with exceptionally high melting points. They are manufactured using materials such as fireclay, high alumina minerals, silica, magnesite, and chromite with excellent resistance to mechanical and thermal stress, corrosion from solids, liquids, and gases, physical wear or abrasion, and gas diffusion. They can withstand high industrial temperatures and pressures and are available in various shapes and sizes that can be pressed or molded according to the required dimensions. They are widely used as interior linings in boilers, furnaces, and kilns to contain heat and protect material processing equipment from elevated temperatures.

Global Refractories Market Trends:

The escalating demand for refractories from the iron and steel sectors represents the primary factor driving the market growth. Moreover, the rising investments in large-scale infrastructure projects, especially in developing regions, is another major growth-inducing factor. In addition, there has been a significant shift from conventional tools toward refractories due to their higher temperature resistance, easy installation, and ability to manufacture bricks in customized shapes. Along with this, the increasing production of non-ferrous metals has augmented the product demand for use in internal lining applications. Furthermore, the leading manufacturers are focusing on expanding their production capacities and product portfolio to gain a competitive edge. Besides this, the shifting inclination toward recycling refractory materials for manufacturing steel due to the introduction of stringent government regulations regarding emissions and tax incentives has propelled market growth. Other factors, including the rising usage of iron, steel, and glass in the automotive industry, increasing construction activities, rapid industrialization, surging adoption of unshaped refractories, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach USD 38.8 Billion by 2033, growing at a CAGR of 3.65% during 2025-2033.

Market Summary:

Based on the form, the market has been classified as shaped and unshaped refractories.
On the basis of the alkalinity, the market has been bifurcated into acidic and neutral, and basic.
The market has been segregated based on the manufacturing process into dry press process, fused cast, hand-molded, formed, and unformed.
Based on the composition, the market has been categorized into clay-based and nonclay-based.
On the basis of the refractory mineral, the market has been segmented into graphite, magnesite, chromite, silica, high alumina, zirconia, and others.
The market has been divided based on the application into iron and steel, cement, non-ferrous metals, glass, and others.
Region-wise, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being 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, and Vesuvius Plc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Form, Alkalinity, Manufacturing Process, Composition, Refractory Mineral, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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 and Vesuvius Plc
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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$Global Refractories Market to Reach USD 38.8 Billion by 2033, Impelled by Escalating Demand from the Iron and Steel Sectors$

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