Saudi Arabia Refractory Market

Saudi Arabia Refractories Market Size & Insights

Saudi Arabia Refractories Market size is predicted to add an incremental market revenue of USD 126 million between 2025 to 2032 primarily driven by the government measures to diversify economy from oil to non-oil based under Vision 2030 resulting in massive increase in industrial, infrastructure & construction activities driving demand for refractory products.

Saudi Arabia Refractories Market KSA Overview

Refractory is defined as a material that is resistant to decomposition by heat, pressure, or chemical attack and has a high level of strength and forms even at high-temperature range. They are inorganic and non-metallic, porous, and heterogeneous. There are various types of refractory bricks in numerous sizes and shapes that are available for different applications.

The refractory market in Saudi Arabia is witnessing an upsurge in demand during the forecast period. This is mainly due to the accelerating demand for refractories, especially among the iron & steel sector. The refractory material is mainly used in the internal lining of furnaces for the manufacturing of steel as well as iron in the vessel for holding and transportation of metal and slag. As per the World Steel Association, Saudi Arabia is among the top world’s leading 20 steel producers.

Saudi Arabia Refractories Market Drivers

Increasing Construction Activities Driving Cement and Steel Demand

The construction sector in the country is booming with the launch of new government initiatives. Construction industry is a key driver of economic growth in Saudi Arabia and the construction industry in Saudi Arabia employs 15% of the total labor force and contributes about 20% to the total non‐oil gross domestic product. Saudi Arabian construction market is forecast to witness a significant growth because of the increasing private sector investment in housing and infrastructure projects, ongoing reforms, Vision 2030, and NTP 2020.The government has introduced the “Saudi Vision 2030,” which includes a strategic framework to decrease the country’s dependence on oil, diversify its economy, and for the development of public service sectors such as health, education, infrastructure, recreation, and tourism. Qiddiya, NEOM, Red Sea Project, Jabal Omar, and various other projects are indirectly impacting the growth of the market.

In addition to this, the strong demand for construction has surged the demand for cement and other building material. To meet the accelerating demand, the Ministry of Commerce and Industry reports SAR 3 billion in capitalization for the development of four cement plants over the next few years. Thus, the rising pace of infrastructural development in the country has surged the construction of the residential and commercial buildings, which in turn, is driving the demand for refractories, particularly in the iron & steel cement industries.

Strategic government Policies to Transform Saudi Economy from Oil based to Non-Oil based including National Transformation Program 2020 and Saudi Vision 2030

In 2016, Saudi Arabian Government introduced Saudi Vision 2030, an ambitious strategic plan designed to transform the nation’s economy by investing and promoting non-oil based sectors. The country has planned to set up a sovereign wealth fund amounting to around USD 2 trillion to support the development projects associated with the Vision 2030. The program emphasizes on the private sector and innovation, across the real estate and construction sectors to encourage more foreign investment.

Construction industry’s output is supported by the government’s focus on the development of overall infrastructure, as well as energy and utilities construction projects, in a bid to diversify its economy away from oil.

Saudi Arabia Refractories Market Segment Analysis

Form Type Market Insights: Shaped refractories segment is expected to witness a higher CAGR

Based on the form, the shaped refractories segment is expected to witness a higher CAGR during the forecast period. The increasing usage of shaped refractories, particularly for the formation of floor tiles, walls, and arches, is a key driver that is propelling the market growth. The shape of refractories is dependent on the structure and size of furnaces or other services where they will be used.

Product Type Market Insights: Clay segment to exhibit highest growth in coming years

Clay segment to exhibit highest growth in the Saudi Arabia Refractories market in near future. The market is driven by the increasing usage of clay across various industries such as cement, glass, iron and steel, among others. For instance, fireclays bricks are widely used in steel industry for hot blast stoves, blast furnaces and other types of furnaces.

End-Use Industry Market Insights: Iron & steel segment dominates the market revenue share

On the basis of end-use industry, the iron & steel segment is anticipated to grow at a faster CAGR over the forecast period. The growing emphasis on infrastructural development due to the launch of various projects such as The Qiddiya project, King Abdullah Economic City, and other projects is one of the major factors that is responsible for the growth of the segment in the market. In addition to this, the increasing demand for high-cost and high-performance refractories owing to the growing focus on increasing the quality of life and environment is another factor that is contributing to the segment growth.

Saudi Arabia Refractories Market Major Players & Competitive Landscape

Several leading companies are RHI Magnesita, Alfran, Vesuvius, Saudi Refractory Industries, AOSCO Refractory, Calderys, Clear Vision and many more.

Saudi Arabia Refractories Market Scope of the Report

Saudi Arabia Refractories Market Research Report Segmentation

The Saudi Arabia refractories market has been segmented based on form, alkalinity, end-use industry. Based on Form, the market is segmented into shaped refractories & unshaped refractories. Based on Product Type, the market is segmented into Clay and Non-Clay. Based on end-use Industry, the market is segmented into iron & steel, non-ferrous metal, cement, glass, other industries.

Saudi Arabia Refractories Market by Form

• • Shaped Refractories
  • Unshaped Refractories

Saudi Arabia Refractories Market by Product Type

• • Clay
  • Non-Clay

Saudi Arabia Refractories Market by End-Use Industry

• • Iron & Steel
  • Non-Ferrous Metal
  • Cement
  • Glass
  • Other Industries

Saudi Arabia Refractories Market Leading players

• • RHI Magnesita
  • Alfran
  • Vesuvius
  • Saudi Refractory Industries
  • AOSCO Refractory
  • Calderys
  • Clear Vision