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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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.
Imerys Usa Inc.
Krosaki Harima Corporation
Morgan Advanced Materials Plc
Refratechnik Holding GmbH
RHI Magnesita GmbH
The report has segmented on the basis of form, alkalinity, manufacturing process, composition, refractory mineral and geography
Breakup by Form:
Breakup by Alkalinity:
Acidic and Neutral
Breakup by Manufacturing Process:
Dry Press Process
Breakup by Composition:
Breakup by Refractory Mineral:
Breakup by Application:
Iron and Steel
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
Comprehensive Mapping of the Competitive Landscape
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