Press release
Refractories Market Size, Share, Growth, Industry Analysis, Trends and Forecast 2027
The global refractories market reached a value of US$ 24.2 Billion in 2021. Refractories are non-metallic, porous, inorganic, and heterogeneous materials designed to withstand high industrial pressures and temperatures. These materials can be divided into several types, including fireclay, magnesite, chromite, high alumina minerals, silica, etc. Refractories are manufactured using substances that are adherent to corrosion from solids, liquids, gases, mechanical and thermal stress, abrasion, gas diffusion, etc. They are used in furnaces and boilers to contain heat and protect the processing equipment from intense temperatures. As a result, refractories find widespread applications across various sectors, such as iron, steel, energy, chemical, manufacturing, non-ferrous metals, glass, cement, ceramics, etc.
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Market Trends
The expanding steel sector across countries is one of the primary factors driving the refractories market. Besides this, the escalating utilization of refractories in the construction sector, on account of their high temperature resistance and convenience for installation, is further augmenting the market growth. Apart from this, the increasing infrastructural activities, especially in developing nations, are also catalyzing the global market. Moreover, the emerging trend of recycling these materials and the elevating technological advancements are acting as significant growth-inducing factors. Furthermore, the growing requirement for non-ferrous metals and the rising usage of automotive, aerospace, electrical, and medical castings are expected to propel the refractories market in the coming years. Looking forward, IMARC Group expects the market to reach US$ 31.7 Billion by 2027, exhibiting a CAGR of 4.4% during 2022-2027.
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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
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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