Press release
Refractories Global Market Report 2025: Steady Growth, Development in Industries and Emerging Trends
Refractories Market Share
Key driving factors are influencing a steady growth trend in the refractories market, which is expected to reach $29.49 billion in 2025.
What Is The Projected Market Size Of The Global Refractories Market And Its Growth Rate?
The refractories market shows a consistent pattern of growth. Here are some key stats:
- The market size has grown from $28.41 billion in 2024 to an expected $29.49 billion in 2025, at a compound annual growth rate (CAGR) of 3.8%.
- This growth is attributed to the industrial revolution and steel production, as well as the development of cement, glass, and non-ferrous metal production industries.
- The refractories market size is set to grow steadily over the next few years, reaching $34.62 billion in 2029, at a compound annual growth rate (CAGR) of 4.1%.
- Factors contributing to this forecast period growth include infrastructure development, refractory design innovations, expanded market penetration in emerging economies, and shifts toward sustainable refractories.
What Is Driving The Growth In The Refractories Market?
The primary driver of the refractories market is the growing demand for iron and steel, spurred by expanded infrastructure building and the growing car and railway industries. The increase in energy-efficient steel-making practices further enhances the need for refractories, essential lining materials used during iron and steel manufacturing. Forecasts by the India Brand Equity Foundation (IBEF) predict a 17% increase in steel consumption, up to 110 million tons in FY22. This boost in construction activity solidifies the increasing demand for steel and iron - a trend that continues to drive the refractories market.
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Who Are the Key Players Driving Refractories Market Growth?
The key players in the refractories market include:
- Saint-Gobain SA
- Kyocera
- Imerys
- RHI Magnesita GmbH
- Vesuvius
- Minerals Technologies Inc.
- Shinagawa Refractories Co Ltd.
- Morgan Advanced Materials
- Calderys
- CoorsTek
- Puyang Refractories Group Co Ltd.
- Harbisonwalker International
- Dalmia-OCL
- Resco Products Inc.
- Intocast AG
- Allied Mineral Products
- Zircar Refractories Ltd.
- Chosun Refractories
- Magnezit Group
- IFGL Refractories Ltd.
- Krosaki Harima Corporation
- Orient Refractories Limited
- Refratechnik
- Refractarios Alfran
What Are The Key Trends In The Refractories Market?
Key trends in the market include:
- Demand in steel industry
- Growth in cement production
- Rise in non-ferrous metals production
- Technological advancements in refractory materials
- Market expansion in developing economies
What Are The Segments Of The Global Refractories Market?
The refractories market is segmented by the following:
- Form: Shaped Refractories, Unshaped Refractories
- Alkalinity: Acidic And Neutral, Basic
- Refractory Mineral: Bauxite, Alumina, Kaolin, Magnesia, Graphite, Zircon
- End-Use Industry: Iron And Steel, Power Generation, Non-Ferrous Metals, Cement, Glass, Other End-Users
Which Region Leads The Refractories Market?
The largest region in the refractories market in 2024 was Asia-Pacific, covering areas including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Refractories Global Market Report?
- Market Size Analysis: Analyze the Refractories market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Refractories market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Refractories Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Refractories Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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Market Insights
Refractories market is estimated to grow at the growth rate of 4.13% for the forecast period of 2020 to 2027. Demand for electrical, automotive, aerospace, glass, cement industries will drive the growth of the market.
Refractories are heat resistant than other metals, they are used for lining hot surfaces and found inside many industrial processes. They are available in different shapes and sizes, are pressed, molded or produced in interlocking…
