June 22, 2024

Refractories Market Size to Attain USD 51.46 Bn By 2033

The global refractories market size is expected to reach around USD 51.46 billion by 2033 from USD 32.98 billion in 2023, growing at a CAGR of 4.60% during the forecast period from 2024 to 2033.

Key Takeaways

  • Asia Pacific contributed more than 49.28% of the market share in 2023.
  • North America is estimated to expand the fastest CAGR between 2024 and 2033.
  • By form, the bricks & shaped segment has held the largest market share of 55% in 2023.
  • By form, the monolithic & unshaped segment is anticipated to grow at a remarkable CAGR of 5.8% between 2024 and 2033.
  • By product, the clay segment generated over 66% of the market share in 2023.
  • By product, the non-clay segment is expected to expand at the fastest CAGR over the projected period.
  • By alkalinity, the basic segment generated over 59% of the market share in 2023.
  • By alkalinity, the acidic & neutral segment is expected to expand at the fastest CAGR over the projected period.
  • By end-use industry, the iron & steel segment generated over 36% of market share in 2023.
  • By end-use industry, the cement segment is expected to expand at the fastest CAGR over the projected period.

Refractories Market Size 2024 To 2033

The refractories market plays a pivotal role in various industries, serving as essential materials for constructing linings that withstand high temperatures and harsh conditions in furnaces, kilns, and reactors. These materials are crucial for maintaining the integrity of structures in applications ranging from steel manufacturing to petrochemical processing. The market’s significance is underscored by its contribution to the efficiency and longevity of industrial equipment across diverse sectors.

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Growth Factors

Several factors contribute to the growth of the refractories market. The increasing demand for high-performance refractory materials in industries like iron and steel, cement, and glass manufacturing is a primary driver. Additionally, technological advancements in refractory materials, such as the development of advanced monolithic refractories, contribute to enhanced performance and durability, further propelling market growth. The rise in infrastructure projects and continuous efforts to improve energy efficiency in industrial processes also fuel the demand for refractories.

Refractories Market Scope

Report Coverage Details
Global Market Size in 2023 USD 32.98 Billion
Global Market Size by 2033 USD 51.46 Billion
Asia-Pacific Market Size in 2023 USD 16.25 Billion
Asia-Pacific Market Size by 2033 USD 25.85 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Form, By Product, By Alkalinity, and By End-Use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Sequencing Consumables Market Size to Worth USD 50.75 Bn By 2033

Market Dynamics

Drivers:

The refractories market is driven by the robust growth of end-use industries, particularly in emerging economies. The expansion of the construction and automotive sectors, coupled with the increasing focus on renewable energy sources, drives the demand for refractories in associated manufacturing processes. The ability of refractory materials to withstand extreme temperatures, corrosion, and erosion is a critical driver, ensuring their widespread application in industries that require durable and heat-resistant linings.

Opportunities:

Opportunities in the refractories market are evident in the exploration of novel applications and the development of innovative products. As industries evolve, there is a growing need for refractories that can meet more specialized requirements. Additionally, the expansion of industries such as aerospace and electronics presents opportunities for refractory manufacturers to cater to unique demands. Collaborations with research institutions for the development of advanced refractory solutions and sustainable practices also represent avenues for growth.

Challenges:

Despite its growth, the refractories market faces challenges such as the environmental impact of traditional refractory manufacturing processes. Efforts to address these challenges involve the development of eco-friendly refractory materials and processes. Moreover, the market must contend with fluctuations in raw material prices, impacting manufacturing costs. The competitive landscape, marked by the presence of both established and new entrants, poses challenges related to pricing strategies and maintaining product quality and innovation. Overcoming these challenges requires a strategic approach and a focus on sustainable practices within the refractories industry.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Recent Developments in the Refractories Market

  • In June 2023, INTOCAST AG revealed its plan to acquire EXUS Refractories S.p.A, an Italian company, as part of its strategy to enhance its production facility with modern technological advancements. The acquisition is expected to fortify INTOCAST AG’s refractory product portfolio, positioning it for sustained growth.
  • In April 2023, RHI Magnesita announced its acquisition of the U.S., India, and Europe operations of seven refractories, non-basic monolithic specialists. With a recorded revenue of USD 110 million and PBT of USD 12 million in 2022, this strategic move aims to bring innovative product categories and technological advancements, providing a significant leap in consumer offerings on the global market.
  • In October 2021, Intocast expanded its presence in the Americas by acquiring Pyrol, a Mexican manufacturer and trader of refractory products and casting auxiliaries.
  • In September 2021, Plibrico Company, LLC completed the acquisition of Redline Industries, Inc., a pioneer in product innovation for high-temperature furnace protection, with a focus on promoting energy efficiency. This acquisition enhances Plibrico’s position in the competitive market, offering customers trusted refractory solutions and expanding its product portfolio.

Refractories Market Companies

  • INTOCAST AG
  • RHI Magnesita
  • Plibrico Company, LLC
  • EXUS Refractories S.p.A
  • Pyrol
  • Redline Industries, Inc.
  • Saint-Gobain
  • HarbisonWalker International
  • Vesuvius plc
  • Morgan Advanced Materials
  • Shinagawa Refractories Co., Ltd.
  • Resco Products, Inc.
  • Calderys
  • Krosaki Harima Corporation
  • Imerys Group

Segments covered in the report

By Form

  • Bricks & Shaped
  • Monolithic & Unshaped

By Product

  • Clay
  • Non-Clay
  • By Alkalinity:
  • Acidic & Neutral
  • Basic

By End-Use Industry

  • Iron & Steel
  • Non-Ferrous Metals
  • Glass
  • Cement
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Refractories Market 

5.1. COVID-19 Landscape: Refractories Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Refractories Market, By Form

8.1. Refractories Market Revenue and Volume Forecast, by Form, 2024-2033

8.1.1. Bricks & Shaped

8.1.1.1. Market Revenue and Volume Forecast (2021-2033)

8.1.2. Monolithic & Unshaped

8.1.2.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 9. Global Refractories Market, By Product

9.1. Refractories Market Revenue and Volume Forecast, by Product, 2024-2033

9.1.1. Clay

9.1.1.1. Market Revenue and Volume Forecast (2021-2033)

9.1.2. Non-Clay

9.1.2.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 10. Global Refractories Market, By Alkalinity 

10.1. Refractories Market Revenue and Volume Forecast, by Alkalinity, 2024-2033

10.1.1. Acidic & Neutral

10.1.1.1. Market Revenue and Volume Forecast (2021-2033)

10.1.2. Basic

10.1.2.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 11. Global Refractories Market, By End-Use 

11.1. Refractories Market Revenue and Volume Forecast, by End-Use, 2024-2033

11.1.1. Iron & Steel

11.1.1.1. Market Revenue and Volume Forecast (2021-2033)

11.1.2. Non-Ferrous Metals

11.1.2.1. Market Revenue and Volume Forecast (2021-2033)

11.1.3. Glass

11.1.3.1. Market Revenue and Volume Forecast (2021-2033)

11.1.4. Cervical

11.1.4.1. Market Revenue and Volume Forecast (2021-2033)

11.1.5. Cement

11.1.5.1. Market Revenue and Volume Forecast (2021-2033)

11.1.6. Others

11.1.6.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 12. Global Refractories Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.1.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.1.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.1.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.1.5. U.S.

12.1.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.1.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.1.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.1.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.1.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.1.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.1.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.2. Europe

12.2.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.2.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.2.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.2.5. UK

12.2.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.2.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.2.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.2.6. Germany

12.2.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.2.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.2.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.2.7. France

12.2.7.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.2.7.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.7.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.2.7.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.2.8.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.2.8.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.2.8.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.3. APAC

12.3.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.3.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.3.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.3.5. India

12.3.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.3.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.3.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.3.6. China

12.3.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.3.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.3.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.3.7. Japan

12.3.7.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.3.7.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.7.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.3.7.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.3.8.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.3.8.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.3.8.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.4. MEA

12.4.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.4.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.4.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.4.5. GCC

12.4.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.4.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.4.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.4.6. North Africa

12.4.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.4.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.4.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.4.7. South Africa

12.4.7.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.4.7.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.7.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.4.7.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.4.8.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.4.8.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.4.8.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.5. Latin America

12.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.5.5. Brazil

12.5.5.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.5.5.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.5.5.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.5.5.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Volume Forecast, by Form (2021-2033)

12.5.6.2. Market Revenue and Volume Forecast, by Product (2021-2033)

12.5.6.3. Market Revenue and Volume Forecast, by Alkalinity (2021-2033)

12.5.6.4. Market Revenue and Volume Forecast, by End-Use (2021-2033)

Chapter 13. Company Profiles

13.1. INTOCAST AG

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. RHI Magnesita

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Plibrico Company, LLC

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. EXUS Refractories S.p.A

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Pyrol

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Redline Industries, Inc

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Saint-Gobain

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. HarbisonWalker International

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Vesuvius plc

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Morgan Advanced Materials

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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