Product Code: GVR-4-68040-141-3
Refractories Market Growth & Trends:
The global refractories market size is anticipated to reach USD 70.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 8.0% from 2025 to 2030. The market is expected to be driven by demand for refractories in cement and lime production around the world.
Refractories are used in rotary kilns to protect the steel shell from gas temperature and heat material. This allows the maximum working temperature required for carbon steel. Without refractory products, the kiln shell would be destroyed, affecting in closure of operations. These products also provide protection against abrasion, control the flow of material through the kiln and minimize heat loss.
According to International Energy Agency, global cement production was 4,158 million tons in 2022, with a y-o-y decline of 5% from the previous year. This was mainly due to a fall in China's cement production, which observed a y-o-y decline of 10.5%, impacted by sluggishness in the country's real estate sector and government policies to recover from the pandemic. However, China has a leading share in global cement production and thus is expected to attract significant demand for refractory products.
The demand for iron & steel, glass, and cement in emerging countries such as India and Brazil is likely to remain a contributing factor for the market growth. For instance, India held the second position in global cement production, with a share reaching 9% in 2022 from 8% in 2021. Similarly, India's crude steel production was 125.3 million tons in 2022 from 118.2 million tons in 2021. In 2022, India was the second largest steel producer after China.
Investments for the capacity expansion of steel plants are projected to provide a boost to market growth. For instance, in May 2023, Baosteel, Aramco and PIF signed an agreement to construct a steel plate manufacturing complex in Saudi Arabia. This complex is projected to have a capacity of 1.5 million tons per year with a focus on sustainability and reduction of CO2 emissions. The plant is expected to reduce CO2 emissions by nearly 60% compared to traditional steel plants.
Refractories Market Report Highlights:
- Based on end-use, iron & steel dominated the market with a share of over 68.2% in 2024 and is expected to maintain its position over the forecast period. The demand for steel products in construction & infrastructure supported by private and public expenditure is expected to play a key role in the market expansion.
- The cement & lime end-use segment is projected to grow at a lucrative rate over the forecast period. The moderate growth in the production of cement and subsequent demand from end-use industries is likely to play a key role in the expansion of the segment.
- Asia Pacific is anticipated to remain the dominant regional market, with a share of over 74.8% in 2024. The demand in the region is fueled by large volume production of steel, cement, and glass.
- The refractories market is fragmented in nature, with players focusing on product availability, new product development, and competitive pricing.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Refractories Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Regulatory Framework
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Industry Analysis Tools
- 3.5.1. Porter's Five Forces Analysis
- 3.5.2. Macro-environmental Analysis
Chapter 4. Refractories Market: End Use Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Refractories Market: End Use Movement Analysis & Market Share, 2024 & 2030
- 4.3. Iron & Steel
- 4.3.1. Iron & Steel Market Revenue Estimates and Forecasts, 2018 - 2030 (Kilo Tons) (USD Million)
- 4.4. Cement & Lime
- 4.4.1. Cement & Lime Market Revenue Estimates and Forecasts, 2018 - 2030 (Kilo Tons) (USD Million)
- 4.5. Glass & Ceramics
- 4.5.1. Glass & Ceramics Market Revenue Estimates and Forecasts, 2018 - 2030 (Kilo Tons) (USD Million)
- 4.6. Non-Ferrous Metals
- 4.6.1. Non-Ferrous Metals Market Revenue Estimates and Forecasts, 2018 - 2030 (Kilo Tons) (USD Million)
- 4.7. Other End Use
- 4.7.1. Other End Use Market Revenue Estimates and Forecasts, 2018 - 2030 (Kilo Tons) (USD Million)
Chapter 5. Refractories Market: Regional Estimates & Trend Analysis
- 5.1. Regional Movement Analysis & Market Share, 2024 & 2030
- 5.2. North America
- 5.2.1. North America Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.2.2. U.S.
- 5.2.2.1. Key Country Dynamics
- 5.2.2.2. U.S. Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.2.3. Canada
- 5.2.3.1. Key Country Dynamics
- 5.2.3.2. Canada Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.2.4. Mexico
- 5.2.4.1. Key Country Dynamics
- 5.2.4.2. Mexico Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.3. Europe
- 5.3.1. Europe Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.3.2. Germany
- 5.3.2.1. Key Country Dynamics
- 5.3.2.2. Germany Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.3.3. UK
- 5.3.3.1. Key Country Dynamics
- 5.3.3.2. UK Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.3.4. France
- 5.3.4.1. Key Country Dynamics
- 5.3.4.2. France Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.3.5. Russia
- 5.3.5.1. Key Country Dynamics
- 5.3.5.2. Russia Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.4. Asia Pacific
- 5.4.1. Asia Pacific Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.4.2. China
- 5.4.2.1. Key Country Dynamics
- 5.4.2.2. China Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.4.3. Japan
- 5.4.3.1. Key Country Dynamics
- 5.4.3.2. Japan Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.4.4. India
- 5.4.4.1. Key Country Dynamics
- 5.4.4.2. India Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.4.5. South Korea
- 5.4.5.1. Key Country Dynamics
- 5.4.5.2. South Korea Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.5. Central & South America
- 5.5.1. Central & South America Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.5.2. Brazil
- 5.5.2.1. Key Country Dynamics
- 5.5.2.2. Brazil Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.6. Middle East & Africa
- 5.6.1. Middles East & Africa Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
- 5.6.2. South Africa
- 5.6.2.1. Key Country Dynamics
- 5.6.2.2. South Africa Refractories Market Estimates & Forecast, 2018 - 2030 (Kilo Tons) (USD Million)
Chapter 6. Refractories Market - Competitive Landscape
- 6.1. Recent Developments & Impact Analysis, By Key Market Participants
- 6.2. Company Categorization
- 6.3. Company Heat Map
- 6.4. Position Analysis, 2024
- 6.5. Strategy Mapping
- 6.5.1. Expansion
- 6.5.2. Mergers & Acquisition
- 6.5.3. Partnerships & Collaborations
- 6.5.4. New Product Launches
- 6.5.5. Research and Development
- 6.6. Company Profiles
- 6.6.1. Chosun Refractories Co., Ltd.
- 6.6.1.1. Participant's Overview
- 6.6.1.2. Financial Performance
- 6.6.1.3. Product Benchmarking
- 6.6.1.4. Recent Developments
- 6.6.2. CoorsTek, Inc.
- 6.6.2.1. Participant's Overview
- 6.6.2.2. Financial Performance
- 6.6.2.3. Product Benchmarking
- 6.6.2.4. Recent Developments
- 6.6.3. HarbisonWalker International
- 6.6.3.1. Participant's Overview
- 6.6.3.2. Financial Performance
- 6.6.3.3. Product Benchmarking
- 6.6.3.4. Recent Developments
- 6.6.4. Imerys
- 6.6.4.1. Participant's Overview
- 6.6.4.2. Financial Performance
- 6.6.4.3. Product Benchmarking
- 6.6.4.4. Recent Developments
- 6.6.5. Krosaki Harima
- 6.6.5.1. Participant's Overview
- 6.6.5.2. Financial Performance
- 6.6.5.3. Product Benchmarking
- 6.6.5.4. Recent Developments
- 6.6.6. Morgan Advanced Materials
- 6.6.6.1. Participant's Overview
- 6.6.6.2. Financial Performance
- 6.6.6.3. Product Benchmarking
- 6.6.6.4. Recent Developments
- 6.6.7. RHI Magnesita
- 6.6.7.1. Participant's Overview
- 6.6.7.2. Financial Performance
- 6.6.7.3. Product Benchmarking
- 6.6.7.4. Recent Developments
- 6.6.8. Saint-Gobain SEFPRO
- 6.6.8.1. Participant's Overview
- 6.6.8.2. Financial Performance
- 6.6.8.3. Product Benchmarking
- 6.6.8.4. Recent Developments
- 6.6.9. Shinagawa Refractories
- 6.6.9.1. Participant's Overview
- 6.6.9.2. Financial Performance
- 6.6.9.3. Product Benchmarking
- 6.6.9.4. Recent Developments
- 6.6.10. Vesuvius
- 6.6.10.1. Participant's Overview
- 6.6.10.2. Financial Performance
- 6.6.10.3. Product Benchmarking
- 6.6.10.4. Recent Developments