Refractories Market Surges On The Back Of Soaring Demand For Iron And Steel: Powering Innovation and Expansion in the Refractories Market by 2025

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Refractories Market Size Growth Forecast: What to Expect by 2025?
In recent times, the size of the refractories market has been on a consistent rise. The market is projected to expand from $28.41 billion in 2024 to $29.49 billion in 2025, with a compound annual growth rate (CAGR) of 3.8%. The historic period's growth is attributed to factors such as the industrial revolution and steel production, escalation in iron and steel industries, the burgeoning cement and glass sectors, non-ferrous metal production expansion, and increasing demand from chemical and petrochemical industries.

How Will the Refractories Market Size Evolve and Grow by 2029?
In the coming years, the refractories market is slated for consistent expansion, with projections estimating its worth at $34.62 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 4.1%. Factors contributing to this growth during the forecast period include enhancements in infrastructure development, breakthroughs in refractory design and application methods, successful foray into emerging economies, heightened usage of high-temperature materials, and a shift towards environmentally-friendly refractories. Notable trends accompanying this projected growth include heightened demand in the steel industry, an increase in cement production, a surge in non-ferrous metals production, technological progress in refractory materials, and market growth in developing economies.

View the full report here:
https://www.thebusinessresearchcompany.com/report/refractories-global-market-report

What Drivers Are Propelling the Growth of Refractories Market Forward?
The refractories market is being propelled by the escalating demand for iron and steel. The need for these metals is on the rise due to intensified infrastructural development and the burgeoning automotive and railway sectors. The uptick in demand for energy-efficient steel production methods that involve refractories is also projected to increase. Refractories serve as vital lining materials at furnace working interfaces and backup areas during the production of iron and steel. For example, the India Brand Equity Foundation (IBEF) revealed in October 2024 that steel consumption is anticipated to surge by 17% to 110 million tons in FY22, due to heightened construction activities. Consequently, the growing need for iron and steel is stimulating the refractories market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7026&type=smp

Which Emerging Trends Are Transforming the Refractories Market in 2025?
Technological progress is a major tendency in the refractories industry. The utilisation of artificial intelligence and machine learning in refractory production enhances efficiency. Images and other forms of data gathered during in-situ analysis can feed into machine learning (ML) models. These models provide critical insights that enable businesses to make precise prognoses about the lifespan of a product and the optimal environment - parameters like temperature - within the reactor for producing the desired output, be it steel, glass, or cement, while minimizing the refractory layer. RHI Magnesita N.V., a company providing refractory products, systems, and services based in Austria, uses artificial intelligence to draw lessons from manufacturing data. It's Automated Process Optimization (APO) system collates all necessary data about a particular manufacturing process and predicts about the maintenance and replacement of refractory materials.

What Are the Key Segments in the Refractories Market?
The refractories market covered in this report is segmented -

1) By Form: Shaped Refractories, Unshaped Refractories
2) By Alkalinity: Acidic And Neutral, Basic
3) By Refractory Mineral: Bauxite, Alumina, Kaolin, Magnesia, Graphite, Zircon
4) By End-Use Industry: Iron And Steel, Power Generation, Non-Ferrous Metals, Cement, Glass, Other End-Users

Subsegments:
1) By Shaped Refractories: Brick Refractories, Precast Refractories, Monolithic Refractories
2) By Unshaped Refractories: Castables, Gunning Mixes, Ramming Masses, Mortars

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7026&type=smp

Who Are the Key Players Shaping the Refractories Market's Competitive Landscape?
Major companies operating 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 Geographic Markets Are Powering Growth in the Refractories Market?
Asia-Pacific was the largest region in the refractories market in 2024. The regions covered in the refractories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7026

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.