Market Overview

The global Refractories Market was valued at USD 28.6 Billion in 2025. It is projected to reach USD 39.7 Billion by 2034, growing at a CAGR of 3.54% during the forecast period 2026-2034. The market growth is driven by rising demand from industrial sectors such as steel, cement, and glass, along with rapid industrialization, infrastructure development, and advances in refractory materials technology.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

Refractories Market Key Takeaways

• Current Market Size: USD 28.6 Billion in 2025
• CAGR: 3.54% during 2026-2034
• Forecast Period: 2026-2034
• Asia-Pacific dominates the market with over 49.2% share in 2025.
• The steel industry is the largest user of refractories, driven by high-temperature manufacturing processes.
• Increasing industrial expansion and modernization support sustained demand for refractories.
• Technological advancements focus on energy efficiency and developing high-performance refractory materials.
• Rapid infrastructure development and urbanization are boosting demand in construction and housing sectors.

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Market Growth Factors

The global refractories market is being driven by industrial expansion and modernization. India's industrial production in November 2024 increased by 5.20% compared to November 2023. Core industries using refractory materials are steel, cement, glass, petrochemicals, and non-ferrous metals. Refractory products are used to line blast furnaces, steel ladles, rotary kilns, incinerators, furnaces, and reactors that produce or process materials at high temperatures. Growth in consumption is greatest in developing countries where industrialization and infrastructure development are occurring. Developed nations are driven by refurbishment and replacement.

Technological advancements also support market expansion, as energy efficiency and sustainability can be achieved with the help of new performance materials such as high-performance refractory materials that help in the reduction of emissions and improve sustainability by allowing industries to comply with stringent environmental regulations. For instance, firebricks are utilized to store and insulate energy, help reduce hydrogen fuel storage, and are comparatively more environmentally friendly and resist high temperatures.

Infrastructure development and urbanization increases the demand for refractories in construction and housing, particularly in developing countries. According to World Bank data on Private Participation in Infrastructure investment, cumulative investment in 2023 is 86.0 billion USD. Refractories are used to support the structure of heating systems in industrial incinerators, fireplaces and chimneys. Continued demand growth in refractory brick and insulation materials is expected as economic living standards and construction activity increase in developing regions, creating greater need for heat resistant construction.

Market Segmentation

By Form:

• Shaped Refractories
• Unshaped Refractories: The largest segment in 2025, valued for adaptability and versatility in complex industrial applications including castables, polymers, and ramming mixtures. Unshaped refractories provide dependable thermal protection in irregular configurations, saving installation time and labor.

By Alkalinity:

• Acidic and Neutral: Leading shares in 2025, preferred for corrosive and acidic environments such as non-ferrous metal production, petrochemical refining, and waste incineration. Acidic refractories like silica bricks and neutral ones like chromite or alumina-silica protect against chemical erosion and high-temperature corrosion.
• Basic

By Manufacturing Process:

• Dry Press Process
• Fused Cast: Leading market share in 2025 due to exceptional resistance to extreme temperatures and chemical corrosion. Manufactured by melting high-purity raw materials, fused cast refractories are ideal for glass furnace sidewalls and tank blocks.
• Hand Molded
• Formed
• Unformed

By Composition:

• Clay-Based: Leading with approximately 59.0% market share in 2025. Cost-effective and versatile for applications with moderate temperature and chemical resistance, widely used in foundries, boiler linings, and cement kilns.
• Nonclay-Based

By Refractory Mineral:

• Graphite: Market leader in 2025, favored for exceptional thermal conductivity, high-temperature resistance, and chemical corrosion resistance in electric arc furnaces and steelmaking.
• Magnesite
• Chromite
• Silica
• High Alumina
• Zirconia
• Others

By Application:

• Iron and Steel: Leading with around 65.4% market share in 2025, driven by the need for durable refractories in high-temperature steel manufacturing equipment such as blast furnaces and converters.
• Cement
• Non-Ferrous Metals
• Glass
• Others

Regional Insights

Asia Pacific leads the global refractories market with a 49.2% share in 2025. This dominance is attributed to rapid industrialization, especially in steel, cement, and glass industries, alongside robust infrastructure development and a large manufacturing base. Competitive production costs, skilled labor, abundant raw materials, and active research further strengthen Asia Pacific's leadership.

Recent Developments & News

• October 2024: IFGL Refractories Ltd. announced a joint venture with Marvels International Group Co. Ltd. (Seychelles) and Marvel Refractories (Anshan) Company Limited (China) to establish a greenfield facility in India, investing INR 300 million to produce products for cement, glass, non-ferrous, and gasification sectors.
• October 2024: Shinagawa Refractories Co., Ltd. acquired Gouda Refractories Group B.V., a Dutch company specializing in high-alumina refractories, to enhance presence in Europe, Middle East, and Africa.
• April 2024: RHI Magnesita planned acquisition of U.S.-based Resco Products for up to USD 430 Million to boost North American production.
• April 2024: Thorpe Specialty Services acquired Walburn Industrial Services LLC, expanding geographic reach and service offerings in lime & mineral, cement, and steel sectors.
• April 2024: Thyssenkrupp AG and EP Corporate Group A.S. announced EPCG’s acquisition of a 20% stake in thyssenkrupp's steel business focusing on growth, innovation, and collaboration in refractories.

Key Players

• Chosun Refractories Eng Co. Ltd.
• Compagnie de Saint-Gobain S.A.
• Coorstek Inc.
• Imerys Usa Inc.
• Krosaki Harima Corporation
• Morgan Advanced Materials Plc
• Refratechnik Holding GmbH
• RHI Magnesita GmbH
• Vesuvius Plc

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