Refractories Market Revenue was valued at USD 35.6 Billion in 2024 and is estimated to reach USD 52.8 Billion by 2033, growing at a CAGR of 4.8% from 2026 to 2033.
The global refractories market was valued at approximately USD 27.23 billion in 2022, and it is expected to expand at a compound annual growth rate (CAGR) of 3.5% from 2023 to 2030. The increasing demand for refractories in industries such as steel, cement, glass, and non ferrous metals drives market growth. The steel industry accounted for a significant share of the market in 2022 due to the rising demand for steel in construction, automotive, and infrastructure projects. The Asia Pacific region holds the largest share of the global refractories market, primarily driven by the booming manufacturing and industrial sectors in countries like China and India. In 2022, Asia Pacific accounted for more than 50% of the global market revenue, owing to the region’s large scale steel production and high industrial output. North America and Europe are also important markets, with North America showing strong demand from the steel and cement industries, and Europe focusing on innovations in refractories for specialized applications in industries like glass and ceramics.
The Middle East & Africa and Latin America are witnessing growing demand for refractories, driven by industrial growth and infrastructure development. In these regions, increasing investments in energy and power sectors, along with a rise in construction activities, are expected to further fuel market expansion. Latin America is also expected to see moderate growth with a focus on the mining industry, which uses refractories in high temperature applications. As industrialization continues to rise in these emerging markets, the demand for refractories is anticipated to increase, presenting lucrative opportunities for manufacturers in these regions. The global refractories market offers numerous opportunities for expansion, driven by technological advancements, such as the development of high performance materials and eco friendly refractories, that address the evolving needs of industrial processes.
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RHI AG
Magnesita
Vesuvius
Plibrico
Morgan Advanced Materials
Saint-Gobain
EKW REFRACTARIOS
Mckeown International
REFRATECHNIK MEXICO
Piro
ZEDMEX
Sajuri
Refleon
RATSA
Refractarios Naucalpan
ASC Mexico
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Refractories Market
Clay-based Refractories
Magnesia-based Refractories
Silica-based Refractories
Alumina-based Refractories
Carbon-based Refractories
Others
Basic Refractories
Acidic Refractories
Neutral Refractories
Bricks
Monolithic
Tiles
Other Forms
Iron & Steel
Cement
Glass
Non-ferrous Metals
Petrochemicals
Others
Furnaces
Ovens
Kilns
Boilers
Other Applications
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Refractories Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Refractories Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Refractories Market, By Type
6. Global Refractories Market, By Application
7. Global Refractories Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Refractories Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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