The Refractories Market size was valued at USD 21,700 Million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% during the forecast period.

Introduction of the Refractories Market Report

Refractory refers to a material that is resistant to decomposition by heat, pressure, or chemical attack and has the ability to retain strength and form at high temperatures. The refractories are inorganic, non-metallic, heterogeneous, and porous. This type of ceramic material withstand high temperature (exceeding 1,000°F) and is widely used in modern manufacturing. The refractories are made up of synthetic and natural materials, especially non-metallic or a combination of compounds and minerals such as alumina, chromite, dolomite, silicon carbide, and other materials.

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Market Dynamic

Key Drivers and Emerging Trends

The strong demand for refractories, particularly from the iron & steel industry, is a key driver that is contributing to the growth of the refractories industry during the forecast period. The iron & steel sector is one of the biggest end-user of refractories, amounting to around 65% of the market. This material is used in the internal lining of furnaces for the manufacturing of iron and steel, in the vessel for holding and transporting metal and slag, and in the flues. There has been a significant increase in infrastructural development, particularly in emerging economies such as India and China. With the rapid urbanization and industrialization, the government of developing countries is heavily investing in the construction of residential and commercial buildings. As per the Global Perspective and Oxford Economies, the global construction market will reach USD 15.55 trillion by the end of 2030. Moreover, the accelerating demand for travel has surged the need for constant development of railways and roadways. This factor has helped in boosting the growth of the automotive sector. Thus, the growing pace of infrastructure development in emerging countries such as India, China, and other economies is opening new growth opportunities for the market.

The accelerating application of refractories in the aerospace, automotive, glass, cement, and electronics sector is another factor that is surging the demand of the market over the coming years. Refractories come in various sizes and shapes and can be easily molded in different shapes and wedges for floors and walls. The end-users are looking for advanced energy-efficient technique for the manufacturing of steel, which is likely to propel the market’s demand over the next few years.

Restraint in the Refractories Market

On the other hand, the emission of volatile organic compounds (VOCs) and its related environmental concerns such as health and safety issues related to refractories is likely to hamper the growth of the market. The manufacturing process of refractories results in the emission of organic particulate matter (PM) and other harmful gases such as sulfur dioxide (SO2), nitrogen oxides (NOx), and other gases.

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End-Use Industry – Segment Analysis

Based on the end-use industry, the iron & steel segment is predicted to grow at a higher CAGR during the forecast period. The strong demand for infrastructure development and surging demand for consumer goods such as automobiles is one of the major factors that is driving the growth of the segment in the market. Moreover, the rising preference for high-cost and high-performance refractories owing to the increasing focus on improving the quality of life, health, and the environment is further propelling the segment’s growth.

Form – Segment Analysis

Based on the form, the shaped refractories segment is projected to dominate the global refractories market during the forecast period. Brick & shapes refractories are increasingly used to form floor tiles, walls, and arches of the extreme temperature process equipment. The shape of refractories is highly dependent on the structure and size of furnaces or other services where it will be used.

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Regional – Segment Analysis:

Based on the region, Asia-pacific region is anticipated to lead the global refractories market during the forecast period. The increasing consumption of refractories in the iron & steel, glass industry, power generation cement, in economies such as China, Japan, India, and Australia, is one of the major factors that is boosting the demand of the regional market. China is dominating the refractories market, especially in consumption and production as the country has easy availability of raw materials. Furthermore, the increasing residential construction sector is projected to support the domestic production demand for non-ferrous, which is further propelling the market’s demand.

Top Market Players

Various notable players operating in the market include RHI Magnesita GmbH, Vesuvius, Krosaki Harima Corporation, SHINAGAWA REFRACTORIES CO., LTD., Saint-Gobain, Coming Incorporated, Morgan Advanced Materials plc, CoorsTek Inc., Harbisonwalker International, and Imerys Refractory Minerals, among others. 

Key Developments:

• • In 2020, Morgan Advanced Materials plc successfully acquired of Carbo Sun Luis to support and grow the network in Chile, Argentina, and Chile.
  • In 2020, Vesuvius introduced its new product – KALPUR. It is a Direct pouring application on an Automatic High-Pressure Green Sand Moulding Line and have improved yield and directional solidification.
  • In 2019, RHI Magnesita invested EUR 40 million for the building of new Dolomite Resource Centre Europe. This center will be used in the entire European market for mining and processing at the Hochfilzen site in Tyrol before being transported by rail to France.

Segments covered in the Report:

The global refractories market has been segmented based on form, alkalinity, end-use Industry, and regions. Based on Form, the market is segmented into shaped refractories & unshaped refractories. Based on alkalinity, the market is segmented into acidic & neutral refractories and basic refractories. Based on end-use Industry, the market is segmented into iron & steel, power generation, non-ferrous metal, cement, glass, other industries. 

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Key questions answered in this research report:

• • At what pace is global refractories market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in refractories market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global refractories market?
  • Which form generated maximum revenues in 2019 and identify the most promising form during the forecast period?
  • What are the various alkalinity areas of global refractories market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 21,700 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Form, By Alkalinity, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	RHI Magnesita GmbH, Vesuvius, Krosaki Harima Corporation, SHINAGAWA REFRACTORIES CO., LTD., Saint-Gobain, Coming Incorporated, Morgan Advanced Materials plc, CoorsTek Inc., Harbisonwalker International, and Imerys Refractory Minerals, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Refractories Market by Form

• • Shaped Refractories
  • Unshaped Refractories

Global Refractories Market by Alkalinity

• • Acidic & Neutral Refractories
  • Basic Refractories

Global Refractories Market by End-Use Industry

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

Global Refractories Market by Region

• • North America Refractories Market (Option 1: As a part of the free 25% customization)
    • North America Market by Form
    • North America Market by Alkalinity
    • North America Market by End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Refractories Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Form
    • Europe Market by Alkalinity
    • Europe Market by End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Refractories Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Form
    • Asia-Pacific Market by Alkalinity
    • Asia-Pacific Market by End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Refractories Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Form
    • RoW Market by Alkalinity
    • RoW Market by End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Refractories Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • RHI Magnesita GmbH
  • Vesuvius
  • Krosaki Harima Corporation
  • SHINAGAWA REFRACTORIES CO., LTD
  • Saint-Gobain
  • Coming Incorporated
  • Morgan Advanced Materials plc
  • CoorsTek Inc
  • Harbisonwalker International
  • Imerys Refractory Minerals