According to IMARC Group’s latest report, titled “Refractories Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028,” the global refractories market size reached US$ 25.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Refractories refer to numerous inorganic, non-metallic, porous, and heterogeneous materials that are designed to withstand high industrial temperatures and pressures. Some of the most common types of refractory applicable comprise fireclay, high alumina minerals, silica, magnesite, chromite, etc. They are manufactured using substances that are adherent to corrosion from solids, liquids, gases, mechanical and thermal stress, abrasion, gas diffusion, etc. Refractories are used in boilers and furnaces to contain heat and protect the processing equipment from intense temperatures. As a result, they find extensive applications across several sectors, such as energy, chemical, non-ferrous metals, glass, cement and ceramics.
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The expanding steel sector across the globe is primarily augmenting the refractories market. Furthermore, the increasing infrastructural activities, especially in developing countries, are positively influencing the market growth. Apart from this, the escalating demand for these materials, on account of their higher-temperature resistance, easy installation, and the capacity to manufacture bricks in customized shapes, are acting as significant growth-inducing factors. Moreover, the widespread adoption of unshaped refractories for various construction applications is also bolstering the global market. Besides this, numerous technological advancements and the emerging trend of recycling these materials for manufacturing steel are further catalyzing the market growth. Additionally, the growing need for non-ferrous metals and the rising utilization of aerospace, automotive, medical, and electrical castings are also driving the global market. In addition to this, the inflating focus of the leading manufacturers on expanding their production capacities and product portfolio to gain a competitive edge is expected to drive the refractories market in the coming years.
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List of Key Companies Covered in this Market Report:
- 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
- Vesuvius Plc
The report has segmented on the basis of form, alkalinity, manufacturing process, composition, refractory mineral and geography
Breakup by Form:
- Shaped Refractories
- Unshaped Refractories
Breakup by Alkalinity:
- Acidic and Neutral
- Basic
Breakup by Manufacturing Process:
- Dry Press Process
- Fused Cast
- Hand Molded
- Formed
- Unformed
Breakup by Composition:
- Clay-Based
- Nonclay-Based
Breakup by Refractory Mineral:
- Graphite
- Magnesite
- Chromite
- Silica
- High Alumina
- Zirconia
- Others
Breakup by Application:
- Iron and Steel
- Cement
- Non-Ferrous Metals
- Glass
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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