Press Release

Global Refractories Market is expected to grow at a robust CAGR.

Global Refractories Market is expected to grow owing to growing demand from iron & steel industry throughout the forecast period.


According to TechSci Research report, “Refractories Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Refractories Market is expected to register robust growth during the forecast period.

The global refractories market is experiencing growth driven by the rising demand for non-ferrous materials like glass, iron, and steel. The expansion of construction activities is expected to further fuel the growth of the cement and iron and steel industries. Additionally, the increasing demand from various end-use sectors is anticipated to be a key driver for market growth. Furthermore, increased investments in infrastructure development are poised to contribute to the growth of the refractories market.

The increasing adoption of renewable energy sources, particularly solar and wind power, presents significant opportunities for refractory manufacturers. Solar panel manufacturing entails high-temperature processes, and refractory linings are essential in wind turbine components. As the capacity for renewable energy continues to expand, there is a growing demand for specialized refractories capable of withstanding the extreme conditions of these applications.

Moreover, infrastructure development projects, including the construction of roads, bridges, tunnels, and airports, offer prospects for refractory materials. These projects often involve the utilization of refractories in the construction of industrial furnaces, kilns, and cement plants. Providing refractory solutions for critical infrastructure projects can result in increased demand and foster market growth.



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Based on chemistry, the Basic segment is expected to dominate the market during the forecast period. The steel industry is experiencing global expansion, particularly in regions such as Asia Pacific and the Middle East. Developing economies are increasing their steel production capacities to meet both domestic and international demand, thereby creating opportunities for basic refractory manufacturers to supply lining materials for new steel plants. Continuous research and development efforts in the basic refractories segment have resulted in material formulations that enhance the performance and lifespan of refractory linings. Manufacturers can leverage these advancements to offer high-quality, durable products to various industries. With the tightening of environmental regulations across sectors, there exists a window for basic refractory manufacturers to develop eco-friendly refractory materials and processes. By incorporating recycled materials and reducing carbon footprints, sustainable refractories can attract environmentally conscious customers. In conclusion, the basic refractories segment of the global refractories market demonstrates strong ties to the steel industry, exceptional alkaline resistance, and promising opportunities arising from emerging markets and technological advancements.

Based on end use, the Iron & Steel segment is projected to dominate the market throughout the forecast period.

The iron and steel industry represents a significant and crucial sector within the global refractories market. Refractories play a vital role in this industry by lining high-temperature equipment used in iron and steel production. The iron and steel industry is a fundamental component of global manufacturing, providing essential materials for construction, automotive production, infrastructure development, and various other applications. As global steel demand continues to increase due to economic development and urbanization, the demand for refractories in this sector remains consistently high. There is a noticeable shift in the steel industry towards electric arc furnaces as an alternative to traditional blast furnaces. EAFs are more energy-efficient, environmentally friendly, and have the ability to utilize a higher percentage of scrap steel. This transition calls for specialized refractory linings, thereby creating opportunities for manufacturers of advanced and high-quality refractories. With the growing adoption of electric arc furnaces, refractory manufacturers have the chance to develop and supply advanced materials that can withstand the unique conditions of EAFs. These materials must exhibit excellent resistance to thermal shock and chemical corrosion while maintaining mechanical strength.


Key market players in the Global Refractories Market are:-

Harbisonwalker International

IFGL Refractories Ltd

Intocast AG

Krosaki Harima Corporation

Magnezit Group

Minerals Technologies Inc.

Puyang Refractories Group Co., Ltd

RHI Magnesita GmbH

Compagnie de Saint-Gobain S.A.

Shinagawa Refractories Co. Ltd


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“The Refractories Market in Asia Pacific is poised to be the dominant force in the industry. The Asia Pacific refractories market is currently witnessing trends driven by technological advancements and product innovation. Manufacturers in the region are actively investing in research and development to develop advanced refractory materials that offer enhanced thermal properties, corrosion resistance, and prolonged service lifetimes. These innovative solutions are tailored to meet the evolving needs of industries in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Refractories Market – Global Industry Size, Share, Trends, Opportunity, and Forecast

Segmented By Chemistry (Acidic, Basic and Neutral), By Chemical Composition (Alumina, Silica, Magnesia, Fireclay and Others), By Form (Shaped and Unshaped), By End Use (Iron & Steel, Energy & Chemicals, Non-ferrous Metals, Cement and Others), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Global Refractories Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Refractories Market.



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