The global refractories market size is expected to reach around USD 51.46 billion by 2033 from USD 32.98 billion in 2023, growing at a CAGR of 4.60% during the forecast period from 2024 to 2033.
Key Takeaways
- Asia Pacific contributed more than 49.28% of the market share in 2023.
- North America is estimated to expand the fastest CAGR between 2024 and 2033.
- By form, the bricks & shaped segment has held the largest market share of 55% in 2023.
- By form, the monolithic & unshaped segment is anticipated to grow at a remarkable CAGR of 5.8% between 2024 and 2033.
- By product, the clay segment generated over 66% of the market share in 2023.
- By product, the non-clay segment is expected to expand at the fastest CAGR over the projected period.
- By alkalinity, the basic segment generated over 59% of the market share in 2023.
- By alkalinity, the acidic & neutral segment is expected to expand at the fastest CAGR over the projected period.
- By end-use industry, the iron & steel segment generated over 36% of market share in 2023.
- By end-use industry, the cement segment is expected to expand at the fastest CAGR over the projected period.
The refractories market plays a pivotal role in various industries, serving as essential materials for constructing linings that withstand high temperatures and harsh conditions in furnaces, kilns, and reactors. These materials are crucial for maintaining the integrity of structures in applications ranging from steel manufacturing to petrochemical processing. The market’s significance is underscored by its contribution to the efficiency and longevity of industrial equipment across diverse sectors.
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Growth Factors
Several factors contribute to the growth of the refractories market. The increasing demand for high-performance refractory materials in industries like iron and steel, cement, and glass manufacturing is a primary driver. Additionally, technological advancements in refractory materials, such as the development of advanced monolithic refractories, contribute to enhanced performance and durability, further propelling market growth. The rise in infrastructure projects and continuous efforts to improve energy efficiency in industrial processes also fuel the demand for refractories.
Refractories Market Scope
| Report Coverage | Details |
| Global Market Size in 2023 | USD 32.98 Billion |
| Global Market Size by 2033 | USD 51.46 Billion |
| Asia-Pacific Market Size in 2023 | USD 16.25 Billion |
| Asia-Pacific Market Size by 2033 | USD 25.85 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Form, By Product, By Alkalinity, and By End-Use |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: Sequencing Consumables Market Size to Worth USD 50.75 Bn By 2033
Market Dynamics
Drivers:
The refractories market is driven by the robust growth of end-use industries, particularly in emerging economies. The expansion of the construction and automotive sectors, coupled with the increasing focus on renewable energy sources, drives the demand for refractories in associated manufacturing processes. The ability of refractory materials to withstand extreme temperatures, corrosion, and erosion is a critical driver, ensuring their widespread application in industries that require durable and heat-resistant linings.
Opportunities:
Opportunities in the refractories market are evident in the exploration of novel applications and the development of innovative products. As industries evolve, there is a growing need for refractories that can meet more specialized requirements. Additionally, the expansion of industries such as aerospace and electronics presents opportunities for refractory manufacturers to cater to unique demands. Collaborations with research institutions for the development of advanced refractory solutions and sustainable practices also represent avenues for growth.
Challenges:
Despite its growth, the refractories market faces challenges such as the environmental impact of traditional refractory manufacturing processes. Efforts to address these challenges involve the development of eco-friendly refractory materials and processes. Moreover, the market must contend with fluctuations in raw material prices, impacting manufacturing costs. The competitive landscape, marked by the presence of both established and new entrants, poses challenges related to pricing strategies and maintaining product quality and innovation. Overcoming these challenges requires a strategic approach and a focus on sustainable practices within the refractories industry.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Recent Developments in the Refractories Market
- In June 2023, INTOCAST AG revealed its plan to acquire EXUS Refractories S.p.A, an Italian company, as part of its strategy to enhance its production facility with modern technological advancements. The acquisition is expected to fortify INTOCAST AG’s refractory product portfolio, positioning it for sustained growth.
- In April 2023, RHI Magnesita announced its acquisition of the U.S., India, and Europe operations of seven refractories, non-basic monolithic specialists. With a recorded revenue of USD 110 million and PBT of USD 12 million in 2022, this strategic move aims to bring innovative product categories and technological advancements, providing a significant leap in consumer offerings on the global market.
- In October 2021, Intocast expanded its presence in the Americas by acquiring Pyrol, a Mexican manufacturer and trader of refractory products and casting auxiliaries.
- In September 2021, Plibrico Company, LLC completed the acquisition of Redline Industries, Inc., a pioneer in product innovation for high-temperature furnace protection, with a focus on promoting energy efficiency. This acquisition enhances Plibrico’s position in the competitive market, offering customers trusted refractory solutions and expanding its product portfolio.
Refractories Market Companies
- INTOCAST AG
- RHI Magnesita
- Plibrico Company, LLC
- EXUS Refractories S.p.A
- Pyrol
- Redline Industries, Inc.
- Saint-Gobain
- HarbisonWalker International
- Vesuvius plc
- Morgan Advanced Materials
- Shinagawa Refractories Co., Ltd.
- Resco Products, Inc.
- Calderys
- Krosaki Harima Corporation
- Imerys Group
Segments covered in the report
By Form
- Bricks & Shaped
- Monolithic & Unshaped
By Product
- Clay
- Non-Clay
- By Alkalinity:
- Acidic & Neutral
- Basic
By End-Use Industry
- Iron & Steel
- Non-Ferrous Metals
- Glass
- Cement
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Refractories Market
5.1. COVID-19 Landscape: Refractories Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Refractories Market, By Form
8.1. Refractories Market Revenue and Volume Forecast, by Form, 2024-2033
8.1.1. Bricks & Shaped
8.1.1.1. Market Revenue and Volume Forecast (2021-2033)
8.1.2. Monolithic & Unshaped
8.1.2.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 9. Global Refractories Market, By Product
9.1. Refractories Market Revenue and Volume Forecast, by Product, 2024-2033
9.1.1. Clay
9.1.1.1. Market Revenue and Volume Forecast (2021-2033)
9.1.2. Non-Clay
9.1.2.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 10. Global Refractories Market, By Alkalinity
10.1. Refractories Market Revenue and Volume Forecast, by Alkalinity, 2024-2033
10.1.1. Acidic & Neutral
10.1.1.1. Market Revenue and Volume Forecast (2021-2033)
10.1.2. Basic
10.1.2.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 11. Global Refractories Market, By End-Use
11.1. Refractories Market Revenue and Volume Forecast, by End-Use, 2024-2033
11.1.1. Iron & Steel
11.1.1.1. Market Revenue and Volume Forecast (2021-2033)
11.1.2. Non-Ferrous Metals
11.1.2.1. Market Revenue and Volume Forecast (2021-2033)
11.1.3. Glass
11.1.3.1. Market Revenue and Volume Forecast (2021-2033)
11.1.4. Cervical
11.1.4.1. Market Revenue and Volume Forecast (2021-2033)
11.1.5. Cement
11.1.5.1. Market Revenue and Volume Forecast (2021-2033)
11.1.6. Others
11.1.6.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 12. Global Refractories Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.1.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.1.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.1.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.1.5. U.S.
12.1.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.1.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.1.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.1.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.1.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.1.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.1.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.2. Europe
12.2.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.2.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.2.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.2.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.2.5. UK
12.2.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.2.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.2.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.2.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.2.6. Germany
12.2.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.2.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.2.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.2.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.2.7. France
12.2.7.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.2.7.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.2.7.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.2.7.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.2.8.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.2.8.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.2.8.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.3. APAC
12.3.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.3.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.3.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.3.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.3.5. India
12.3.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.3.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.3.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.3.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.3.6. China
12.3.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.3.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.3.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.3.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.3.7. Japan
12.3.7.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.3.7.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.3.7.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.3.7.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.3.8.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.3.8.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.3.8.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.4. MEA
12.4.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.4.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.4.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.4.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.4.5. GCC
12.4.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.4.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.4.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.4.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.4.6. North Africa
12.4.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.4.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.4.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.4.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.4.7. South Africa
12.4.7.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.4.7.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.4.7.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.4.7.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.4.8.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.4.8.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.4.8.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.5. Latin America
12.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.5.5. Brazil
12.5.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.5.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.5.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.5.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)
12.5.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)
12.5.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)
12.5.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)
Chapter 13. Company Profiles
13.1. INTOCAST AG
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. RHI Magnesita
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Plibrico Company, LLC
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. EXUS Refractories S.p.A
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Pyrol
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Redline Industries, Inc
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Saint-Gobain
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. HarbisonWalker International
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Vesuvius plc
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Morgan Advanced Materials
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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