Global Refractories Market Outlook 2028: Ken Research

Global Refractories market by end-user

The global Refractories market has been segmented on the basis of End-User into Iron & Steel, Energy & Chemicals, Non-Ferrous Metals, Cement, Ceramic, Glass and Other End User (Paper & Pulp, Lime Production).

The Iron and Steel segment held the largest market share in 2022 of the Global Refractories market.

It is a major end-user of refractories, which accounts for almost 60% of the refractory market. Refractories can withstand high temperatures, without affecting their physical properties. The increasing demand for infrastructure development in emerging economies is likely to drive the market for iron and steel.

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Global Refractories market by geography

The Global Refractories market has been segmented on the basis of geography into North America, Europe, Asia-Pacific, LAMEA.

Asia Pacific is expected to account for the largest share among all regions within the Global Refractories Market, during the forecasted period 2022-2028F.

The rapid increase in consumption of refractories in power generation, cement and glass industry, and iron and steel manufacturing are expected to increase demand for Refractories in Asia Pacific Region. China has the largest economy in the Asia-Pacific region in terms of GDP, and the building and construction industry witnessed rapid growth in 2021.

Competition Scenario in Global Refractories market

The Refractories Market is highly competitive with ~500 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in Refractories.

Although the global players hold a 10% share in terms of the number of competitors, these players dominate the revenue share by holding ~40% of market revenue. Some of the major players in the market include RHI Magnesita, Vesuvius PLC, Shinagawa Refractories Co., Ltd., Krosaki Harima Corporation, Saint Gobain SA, IMERYS, Chosun Refractories, Puyang Refractories Group Co., Ltd., IFGL Refractories Ltd., Refratechnik, Resco Products, Morgan Advanced Materials and among others.

What Is The Expected Future Outlook For The Overall Refractories Market Across The Globe?

The Global Refractories market was valued at USD ~billion in 2021 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Refractories market is driven by factors such as global urbanization, industrialization, increasing demand for automotive industries, and a rise in demand for iron and steel in the construction industry. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

According to the Global Construction Perspective and Oxford Economics, the global construction market will grow by ~% to USD ~trillion worldwide by 2030, with three countries China, India, and the US accounting for 57% of the global growth, thus propelling the growth of refractories.

The restriction on the use of refractories due to the growing environmental concern is restraining the refractory market to grow. Manufacturing of refractories is carbon intensive process including steps like mining, baking, and curing refractory material. These lead to the emission of organic particulate matter, and harmful gases like sulfur dioxide, nitrogen oxides, carbon monoxides, fluorides, and various other organic compounds.

The Global Refractories Market is primarily driven by the growing demand for refractories in the iron and steel industry. The market size is estimated to be USD ~ billion by 2022 and is expected to reach a market size of USD ~billion by 2028 growing with a CAGR of ~%. The refractory market is growing due to the rise in industrialization and urbanization. Asia Pacific is the dominating region, owing to the rapid increase in consumption of refractories.

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Key Topics Covered in the Report

Snapshot of Global Refractories Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of Global Refractories Market
Historic Growth of Overall Global Refractories Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Refractories Industry
Overview, Product Offerings, and SWOT Analysis of Key Competitors
Covid 19 Impact on the Overall Global Refractories Market
Future Market Forecast and Growth Rates of the Total Global Refractories Market and by Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Refractories Market
Major Production / Consumption Hubs in the Major within Each Region
Major Production/Supply and Consumption/Demand Hubs within Each Major Country
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

 Leading Companies Mentioned in the Report

RHI Magnesita
Vesuvius PLC
Shinagawa Refractories Co., Ltd.
Krosaki Harima Corporation
Saint Gobain SA
IMERYS
Chosun Refractories
Puyang Refractories Group Co., Ltd.
IFGL Refractories Ltd.
Refratechnik
Resco Products
Morgan Advanced Materials

Notable Emerging Companies Mentioned in the Report

Haripriya Refractories Pvt. Ltd.
Universal Refractories, Inc.
Possehl Mexico, SA DE CV
Continental refractories Private Ltd.
Alsey Refractories Company
Christy Refractories Company L.L.C.
Wuxi Nanfang Refractories Co., Ltd.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Refractories Manufacturers
Research and Development Institutes/In-house Researchers
Mining Companies
Packaging Companies
Raw Material Production Companies
Industrial Equipment & Machinery Manufacturers
Recycling organizations
Banking and Financial Service Providers
Iron and Steel Industry Participants
Cement Industry Participants
Ceramic Industry Participants
Energy and Chemical Industry Participants
Refractories Industry Association
Government Department of Heavy Industries
Ministry of Power

Time Period Captured in the Report

Historical Period: 2017H-2021H
Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: -

https://www.kenresearch.com/business-research/global-refractories-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.