Refractories Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 34.88 Billion
CAGR (2026-2031)	4.76%
Fastest Growing Segment	Shaped
Largest Market	Asia Pacific
Market Size (2031)	USD 46.11 Billion

Market Overview

The Global Refractories Market will grow from USD 34.88 Billion in 2025 to USD 46.11 Billion by 2031 at a 4.76% CAGR. Refractories are inorganic, non-metallic materials designed to withstand extreme temperatures, corrosion, and physical wear, serving as essential heat-resistant linings for industrial furnaces, kilns, and reactors. The market’s growth is fundamentally supported by escalating steel and iron demand driven by rapid urbanization and infrastructure projects globally. Additionally, the continuous expansion of the cement, glass, and non-ferrous metal industries further solidifies the consumption base for these critical industrial components.

A significant challenge impeding expansion is the volatility of raw material costs exacerbated by geopolitical instability, which disrupts supply chains and affects pricing strategies. This uncertainty is compounded by fluctuating consumption rates in primary end-use sectors, which dampens immediate order volumes. According to the World Steel Association, in 2024, global steel demand was forecast to decline by 0.9% to 1,751 million tonnes, signalling a temporary contraction in the largest application segment for refractories. Manufacturers must consequently navigate these demand corrections while managing rising input costs to sustain profitability.

Key Market Drivers

Rapid infrastructure development in emerging economies acts as a primary catalyst for the refractories sector, necessitating vast quantities of cement and glass. As governments prioritize urbanization and connectivity projects, the operational frequency of high-temperature kilns increases, directly elevating the replacement rate of refractory linings. This trend is particularly evident in developing nations where public spending is heavily skewed towards construction, ensuring a continuous requirement for thermal management solutions. For instance, according to the Press Information Bureau, February 2024, in the 'Interim Budget 2024-25', the Government of India announced that the capital expenditure outlay for infrastructure development was increased by 11.1% to ₹11,11,111 crore, signaling sustained demand for construction materials that rely on refractory-lined manufacturing processes.

Rising steel production in key growth regions continues to propel market expansion, effectively countering softer demand in mature economies. Specific high-growth territories are witnessing a surge in steel output to support domestic industrialization, thereby maintaining steady orders for shaped and unshaped refractories used in ladles and blast furnaces. Manufacturers are responding to this regional shift by optimizing supply chains to serve these resilient markets. According to the World Steel Association, April 2024, in the 'Short Range Outlook April 2024', steel demand in India was projected to grow by 8.2% in 2024, highlighting the pivotal role of developing nations in sustaining industry volumes. Furthermore, major industry players report substantial turnover driven by these dynamics; according to RHI Magnesita, in 2024, the company recorded a full-year revenue of €3.6 billion for 2023, underscoring the enduring financial scale of the sector.

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Key Market Challenges

Based on the provided overview, the primary challenge hindering the Global Refractories Market is the dual pressure of volatile raw material costs and fluctuating consumption rates in key end-use sectors. Manufacturers face significant difficulty in maintaining stable pricing strategies due to unpredictable input costs driven by geopolitical instability and supply chain disruptions. This economic uncertainty forces suppliers to absorb higher operational expenses or risk losing volume by passing costs to customers who are already tightening their procurement budgets.

This instability is further compounded by a contraction in the steel industry, which serves as the largest consumer base for refractory products. A decline in steel production activity directly correlates with reduced demand for furnace linings and heat-resistant materials, thereby shrinking the immediate revenue stream for refractory companies. For instance, according to the World Steel Association, in October 2024, steel demand in China was projected to decrease by 3.0% for the year. Since China represents a massive share of global steel output, this regional contraction creates a substantial volume gap that negatively impacts global refractory order books and disrupts production planning.

Key Market Trends

The accelerated adoption of monolithic and unshaped refractories is fundamentally altering market dynamics as industrial users demand solutions that offer faster installation and superior thermal shock resistance. Unlike traditional shaped bricks, these materials allow for joint-free linings that significantly reduce downtime during maintenance cycles, prompting manufacturers to scale up dedicated production lines to meet this technical shift. Validating this trend, according to Business Standard, November 2024, in the article 'Vesuvius inaugurates new Alumina-Silica (AlSi) and Basic Monolithic manufacturing plants in Visakhapatnam', the company opened new facilities designed to boost its annual production capacity by 250,000 tonnes. This expansion highlights the growing preference for unshaped products that optimize operational availability in high-temperature environments.

Concurrently, the rising implementation of circular economy and material recycling practices is driving a major strategic pivot aimed at reducing carbon footprints and securing raw material supply. Refractory companies are investing in technologies to process spent linings into high-quality secondary raw materials, thereby decreasing reliance on volatile virgin mineral markets and lowering Scope 3 emissions. This industry-wide commitment is evident in the performance of market leaders; according to RHI Magnesita, March 2024, in the 'Integrated Report 2023', the group successfully increased its utilization of secondary raw materials to achieve a recycling rate of 12.6% for the year. Such initiatives demonstrate how environmental stewardship is becoming a core competitive differentiator alongside product performance.

Segmental Insights

The Shaped segment is currently identified as the fastest-growing category in the Global Refractories Market, primarily driven by its superior structural integrity and precise dimensional stability. This accelerated expansion is fueled by the robust demand from the iron and steel industries, where high-performance bricks and tiles are indispensable for lining new blast furnaces and kilns. As emerging economies invest heavily in infrastructure, the requirement for materials that offer consistent density and proven thermal resistance has surged. Consequently, manufacturers are increasingly prioritizing shaped refractories to ensure the durability and operational efficiency of critical high-temperature processing equipment.

Regional Insights

Asia Pacific dominates the global refractories market, driven primarily by substantial iron and steel production in China and India. Rapid urbanization and infrastructure development in these economies create sustained demand for high-temperature manufacturing processes. Since the steel industry represents the largest end-user for refractory materials, the high volume of metallurgical activities directly correlates with market leadership. Production statistics from the World Steel Association confirm the region maintains a significant share of global crude steel output, ensuring Asia Pacific remains the central hub for consumption and industry expansion.

Recent Developments

In January 2025, RHI Magnesita and MCi Carbon advanced their breakthrough research initiative to decarbonize the refractory industry by securing €3.8 million in funding for a new facility. The partners announced plans to establish the world’s first industrial-scale carbon capture and utilization plant at a site in Hochfilzen, Austria. This project, supported by the Austrian Climate and Energy Fund and the Australian government, aims to capture and convert approximately 50,000 tons of carbon dioxide annually into valuable mineral products. The development marks a significant step towards achieving net-zero emissions in high-temperature manufacturing processes through innovative clean technology.
In November 2024, the RATH Group and Refratechnik established a strategic technology alliance to enhance their service offerings for the glass manufacturing sector. This collaboration was designed to combine the research and development capabilities of both companies, enabling them to produce optimized refractory solutions for glass melting furnaces. By leveraging Refratechnik’s manufacturing expertise alongside RATH’s specialized application knowledge, the alliance aimed to deliver a comprehensive portfolio of high-performance components. The partnership focused on addressing the increasing technical demands of the glass industry by providing improved material formulations and engineering precision from a single source.
In October 2024, Calderys and its Americas brand, HWI, showcased a newly expanded portfolio of refractory solutions at the Glasstec trade fair in Düsseldorf. The company introduced a range of advanced products designed to support the energy transition and decarbonization efforts of glass manufacturers, including specialized refractory bricks and precast shapes. This launch followed the integration of HWI into the group, which allowed for the cross-regional transfer of proven technologies between the EMEA and Americas markets. The exhibition highlighted the company's commitment to providing comprehensive, high-performance linings that reduce energy consumption and extend the operational lifespan of glass furnaces.
In March 2024, Shinagawa Refractories Co., Ltd. expanded its international footprint by establishing a new joint venture company in Indonesia. This strategic collaboration was formed to strengthen the company’s production and sales capabilities within the Southeast Asian market, a region experiencing growing industrial demand. The joint venture aimed to enhance the local supply chain for high-quality refractories, serving key sectors such as steel and cement with greater efficiency. By deepening cooperation with local partners, the Japanese manufacturer sought to capture new business opportunities and accelerate its global growth strategy through localized manufacturing and technical support.

Key Market Players

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

By Chemistry	By Chemical Composition	By Form	By End Use	By Region
Acidic Basic and Neutral	Alumina Silica Magnesia Fireclay and Others	Shaped and Unshaped	Iron & Steel Energy & Chemicals Non-ferrous Metals Cement and Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Refractories Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Refractories Market, By Chemistry:

Acidic
Basic and Neutral

Refractories Market, By Chemical Composition:

Alumina
Silica
Magnesia
Fireclay and Others

Refractories Market, By Form:

Shaped and Unshaped

Refractories Market, By End Use:

Iron & Steel
Energy & Chemicals
Non-ferrous Metals
Cement and Others

Refractories Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Refractories Market.

Available Customizations:

Global Refractories Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Refractories Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Refractories Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Chemistry (Acidic, Basic and Neutral)

5.2.2. By Chemical Composition (Alumina, Silica, Magnesia, Fireclay and Others)

5.2.3. By Form (Shaped and Unshaped)

5.2.4. By End Use (Iron & Steel, Energy & Chemicals, Non-ferrous Metals, Cement and Others)

5.2.5. By Region

5.2.6. By Company (2025)

5.3. Market Map

6. North America Refractories Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Chemistry

6.2.2. By Chemical Composition

6.2.3. By Form

6.2.4. By End Use

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Refractories Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Chemistry

6.3.1.2.2. By Chemical Composition

6.3.1.2.3. By Form

6.3.1.2.4. By End Use

6.3.2. Canada Refractories Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Chemistry

6.3.2.2.2. By Chemical Composition

6.3.2.2.3. By Form

6.3.2.2.4. By End Use

6.3.3. Mexico Refractories Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Chemistry

6.3.3.2.2. By Chemical Composition

6.3.3.2.3. By Form

6.3.3.2.4. By End Use

7. Europe Refractories Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Chemistry

7.2.2. By Chemical Composition

7.2.3. By Form

7.2.4. By End Use

7.2.5. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Refractories Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Chemistry

7.3.1.2.2. By Chemical Composition

7.3.1.2.3. By Form

7.3.1.2.4. By End Use

7.3.2. France Refractories Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Chemistry

7.3.2.2.2. By Chemical Composition

7.3.2.2.3. By Form

7.3.2.2.4. By End Use

7.3.3. United Kingdom Refractories Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Chemistry

7.3.3.2.2. By Chemical Composition

7.3.3.2.3. By Form

7.3.3.2.4. By End Use

7.3.4. Italy Refractories Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Chemistry

7.3.4.2.2. By Chemical Composition

7.3.4.2.3. By Form

7.3.4.2.4. By End Use

7.3.5. Spain Refractories Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Chemistry

7.3.5.2.2. By Chemical Composition

7.3.5.2.3. By Form

7.3.5.2.4. By End Use

8. Asia Pacific Refractories Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Chemistry

8.2.2. By Chemical Composition

8.2.3. By Form

8.2.4. By End Use

8.2.5. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Refractories Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Chemistry

8.3.1.2.2. By Chemical Composition

8.3.1.2.3. By Form

8.3.1.2.4. By End Use

8.3.2. India Refractories Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Chemistry

8.3.2.2.2. By Chemical Composition

8.3.2.2.3. By Form

8.3.2.2.4. By End Use

8.3.3. Japan Refractories Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Chemistry

8.3.3.2.2. By Chemical Composition

8.3.3.2.3. By Form

8.3.3.2.4. By End Use

8.3.4. South Korea Refractories Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Chemistry

8.3.4.2.2. By Chemical Composition

8.3.4.2.3. By Form

8.3.4.2.4. By End Use

8.3.5. Australia Refractories Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Chemistry

8.3.5.2.2. By Chemical Composition

8.3.5.2.3. By Form

8.3.5.2.4. By End Use

9. Middle East & Africa Refractories Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Chemistry

9.2.2. By Chemical Composition

9.2.3. By Form

9.2.4. By End Use

9.2.5. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Refractories Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Chemistry

9.3.1.2.2. By Chemical Composition

9.3.1.2.3. By Form

9.3.1.2.4. By End Use

9.3.2. UAE Refractories Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Chemistry

9.3.2.2.2. By Chemical Composition

9.3.2.2.3. By Form

9.3.2.2.4. By End Use

9.3.3. South Africa Refractories Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Chemistry

9.3.3.2.2. By Chemical Composition

9.3.3.2.3. By Form

9.3.3.2.4. By End Use

10. South America Refractories Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Chemistry

10.2.2. By Chemical Composition

10.2.3. By Form

10.2.4. By End Use

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Refractories Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Chemistry

10.3.1.2.2. By Chemical Composition

10.3.1.2.3. By Form

10.3.1.2.4. By End Use

10.3.2. Colombia Refractories Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Chemistry

10.3.2.2.2. By Chemical Composition

10.3.2.2.3. By Form

10.3.2.2.4. By End Use

10.3.3. Argentina Refractories Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Chemistry

10.3.3.2.2. By Chemical Composition

10.3.3.2.3. By Form

10.3.3.2.4. By End Use

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Refractories Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Harbisonwalker International

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. IFGL Refractories Ltd

15.3. Intocast AG

15.4. Krosaki Harima Corporation

15.5. Magnezit Group

15.6. Minerals Technologies Inc.

15.7. Puyang Refractories Group Co., Ltd

15.8. RHI Magnesita GmbH

15.9. Compagnie de Saint-Gobain S.A.

15.10. Shinagawa Refractories Co. Ltd

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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