Press release
Refractories Market Report 2025-2033, Industry Trends, Share, Size, Demand and Future Scope
The global refractories market, valued at USD 27.60 billion in 2024, is projected to reach USD 38.75 billion by 2033, growing at a CAGR of 3.65% during 2025-2033. This growth is driven by infrastructure development, industrial expansion, and technological advancements, with Asia-Pacific leading the market, holding over 49.2% share in 2024.
Study Assumption Years:
• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Years: 2025-2033
Refractories Market Key Takeaways:
• Market Size and Growth: Valued at USD 27.60 billion in 2024, the market is expected to reach USD 38.75 billion by 2033, with a CAGR of 3.65% from 2025 to 2033.
• Regional Dominance: Asia-Pacific leads with over 49.2% market share in 2024, driven by rapid industrialization and infrastructure projects.
• End-Use Industry: The iron and steel industry remains the largest consumer of refractories, necessitating materials that withstand extreme temperatures.
• Product Forms: Shaped refractories dominate due to their extensive use in high-temperature industrial applications.
• Technological Advancements: Innovations in energy-efficient refractory materials are propelling market growth.
• Application Diversification: Growing demand from non-metal industries like glass and cement is expanding market horizons.
Market Growth Factors:
Industrial Expansion and Infrastructure Development:
Rapid industrialization, especially in developing economies, has substantially increased demand for refractories. The steel, cement, and glass industries require highly efficient refractory materials for their safe functioning and productivity. Therefore, demand gets more amplified because construction activities and infrastructure projects are constantly on the rise, with these industries depending on refractories for high temperatures and corrosive environments. This trend is notably observed in the Asia-Pacific region, which contributed nearly 49.2% of the market share in 2024.
Technological Advancements and Energy Efficiency:
The refractories industry is experiencing a massive product technological innovation aimed at improving material performance and energy efficiency. The developments in nanotechnology and advanced ceramics have led to the creation of refractories that have superior heat resistance and longevity. Moreover, these developments, together with the global push for sustainability, encourage industries to go for energy-efficient practices, consequently boosting the demand for evolved refractory products that play a significant role in energy efficiency and emission reduction.
Diversification into Nonmetal Industries:
While iron and steel remain the major consumers of refractories, demand for non-metal industries such as petrochemical, glass, and cement is witnessing a gradual inclination. These industries operate on high-temperature processes and, hence, require reliable refractory materials. The growth of these sectors, aligned with specialized products being developed for specific refractory applications, is a driving factor towards market growth and diversification.
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Market Segmentation
Analysis by Form:
• Shaped Refractories
• Unshaped Refractories
Analysis by Alkalinity:
• Acidic and Neutral
• Basic
Analysis by Manufacturing Process:
• Dry Press Process
• Fused Cast
• Hand Molded
• Formed
• Unformed
Analysis by Composition:
• Clay-Based
• Nonclay-Based
Analysis by Refractory Mineral:
• Graphite
• Magnesite
• Chromite
• Silica
• High Alumina
• Zirconia
• Others
Analysis by Application:
• Iron and Steel
• Cement
• Non-Ferrous Metals
• Glass
• Others
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Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
Regional Insights:
Asia-Pacific leads the global refractories market, accounting for over 49.2% of the share in 2024. This dominance is attributed to rapid industrialization, infrastructure development, and technological advancements in countries like China and India, which have significantly increased the demand for refractories in various high-temperature applications.
Recent Developments & News:
In January 2025, Stefan Borgas, CEO of RHI Magnesita, urged the European Union to designate magnesite-a critical component in refractory production-as a strategic raw material. This move aims to reduce dependence on imports, particularly from China, and bolster local mining efforts in Europe. Additionally, in February 2023, Chosun Refractories Co Ltd and Sarvesh Refractories established a joint venture in India to manufacture refractories for the steel, automotive, and chemical industries, aiming to decrease India's import reliance and enhance self-sufficiency.
Key Players:
• 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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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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…
