Global Refractories Market, By Product Type (Clay and Non-Clay), Alkalinity (Acidic & Neutral Refractories and Carbon), Form Type (Bricks, Monolithic, and Others), Fusion Temperature (Normal Refractory (1580-1780°C), High Refractory (1780-2000°C), and Super Refractory (>2000°C)), Technology (Isostatics Pressing, Slide Gates Mechanism, and Others), Application (Iron & Steel, Cement & Lime, Energy & Chemicals, Glass, Non-Ferrous Metal, and Others)- Industry Trends and Forecast to 2031.
Refractories Market Analysis and Size
The increasing prevalence of non-metallic minerals and materials and increasing demand for refractories from steel and iron industries are driving market growth. The Growing demand for metal and non-metal castings in the manufacturing of heavy machinery is expected to boost the market growth. The rising concerns regarding environmental degradation are restraining the market growth. The surge in demand for automobiles is expected to act as an opportunity for market growth in the forecast period.
Data Bridge Market Research analyses that the global refractories market is expected to reach USD 54.84 billion by 2031 from USD 37.67 billion in 2023, growing with a CAGR of 4.9% in the forecast period of 2024 to 2031.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Year
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2022 (Customizable 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Product Type (Clay and Non-Clay), Alkalinity (Acidic & Neutral Refractories and Carbon), Form Type (Bricks, Monolithic, and Others), Fusion Temperature (Normal Refractory (1580-1780°C), High Refractory (1780-2000°C), and Super Refractory (>2000°C)), Technology (Isostatics Pressing, Slide Gates Mechanism, and Others), Application (Iron & Steel, Cement & Lime, Energy & Chemicals, Glass, Non-Ferrous Metal, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Norway, Finland, Denmark, Netherlands, Rest of Europe, Japan, China, South Korea, India, Australia, New Zealand, Singapore, Thailand, Indonesia, Malaysia, Taiwan, Finland, Philippines, Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, South Africa, United Arab Emirate, Saudi Arabia, Egypt, Israel, Oman, Qatar, and Rest of Middle East and Africa
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Market Players Covered
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Saint-Gobain Performance Ceramics & Refractories (PCR) (a subsidiary of Saint-Gobain), TYK CORPORATION, Wuxi Nanfang Refractories Co.,Ltd., Coorstek, Refratechnic, HWI, AluChem, ALTEO, CerCo Corporation, Almatis Gmbh, Allied Mineral Products, Inc., Magnezit Group, Minerals Technologies Inc., Puyang Refractories Group Co.,Ltd, Morgan Advanced Materials, IFGL Refractories Ltd., Krosaki Harima Corporation., SHINAGAWA REFRACTORIES CO.,LTD., RHI Magnesita GmbH, Lhoist, Vesuvius, and Imerys among others
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Market Definition
Refractories are made of ceramic, alumina, silica, magnesia, and other materials designed to resist the very high temperatures faced in modern manufacturing. More heat-resistant than metals, they are used to line the hot surfaces inside many industrial processes. The refractory products generally fall under preformed shapes or unformed compositions. Refractories are used to contain heat and protect processing equipment from intense temperatures. The variety of materials such as silica, alumina, and clay among others are utilized for the manufacturing of refractories and these refractories found extensive applications in several industries such as foundries, iron, and steel, glass, among others where they are exposed to extreme chemical and temperature conditions.
Global Refractories Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of these are discussed in detail below:
Drivers
- Increasing Demand for Refractories from Steel and Iron Industries
According to Lucideon, it has been projected that the iron and steel businesses are the largest consumers of refractory materials accounting for around two-thirds of refractory usage globally.
The process chain in the steel business from primary to secondary steelmaking procedures is a diversity of vessels that exist for the central units such as the electric arc furnace and blast furnace and the more maintenance-intensive components such as tapholes, launders, and submerged entry nozzles. Refractories are the topmost materials used by steel production in the internal linings of furnaces for making iron and steel, in furnaces for heating steel before further processing, in vessels for holding and transporting metal and slag the flues or stacks through which hot gases are conducted. According to Fiber Cast, the iron and steel segment has been assessed to make up around 60.0% of all refractory industries.
- Growing Demand for Metal and Non-Metal Castings in Manufacturing of Heavy Machinery
Heavy machinery types are vehicles designed for executing heavier functions, primarily construction tasks such as earthwork operations. They are classified into six major system types: implementation, power train, traction, structure, control, and information. Since these machinery pieces are immense, the manufacturing of these requires a humongous amount of metal and non-metal castings. The growing demand for castings for the manufacture of heavy machinery types is a significant driver for the global refractories market because the bulk production of the castings necessary to manufacture this heavy machinery depends on refractories.
From the exceeding data, it can be resolved that the production of heavy pieces of machinery is a booming business and further points towards an extensive demand requirement for an enormous amount of metal and non-metal castings for manufacturing these types of machinery. As a result, the growing demand for metal and non-metal castings in heavy machinery manufacturing could be considered a prominent driver for the global refractories market.
Opportunity
- Recycling and Re-Usage of Refractories Materials
High costs of raw materials and environmental issues have increased the recycling and re-usage of refractories in recent years. Some recycled waste refractories comprise firebrick, mid-alumina brick, bauxite brick, alumina-carbon, alumina-magnesia and magnesia-carbon bricks. The recycling process helps seek environmentally friendly solutions for spent refractories and safeguards the overall cost of refractory production, energy consumption, and mineral resources.
According to Glass International, it has been estimated that in 2016, the global consumption of refractory raw materials was approximately 35.0 million tons per year of refractory raw materials are consumed to make refractories globally. It denotes enormous mineral deposits exploration, development, mining, processing, and trading by mineral suppliers. Steel producers have started to focus on recycling refractories.
Restraints/ Challenges
- Rising Concerns Regarding Environment Degradation
The energy load of furnaces being used in the manufacturing process of ceramics is quite large. The environment is highly impacted due to the CO2 emission produced from this high energy. According to the Ceramic Society of Japan, it has been estimated that in 2011, 65.0% of the energy of the manufacturing process was used in sintering in the furnace step of insulator manufacture.
The environmental issues due to refractories have become an alarming issue in recent years. Various problems have been acknowledged due to the refractories. For instance, cement kiln systems can lead to combustion gas emissions. The disposition of refractory materials has been considered a significant problem for metal producers. The recent COVID-19 pandemic also spread awareness regarding the importance of environmental protection as many scientists pointed out how nature is recovering in the absence of human interference.
- Volatility In Raw Material Prices
Volatility in raw material prices is a significant challenge for the refractories industry, impacting production costs, profit margins, and overall business stability. Refractories often rely on key minerals such as magnesite, bauxite, alumina, silica, and chromite. The prices of these minerals can be influenced by geopolitical factors, supply disruptions, and changes in demand. Moreover, energy-intensive manufacturing processes contribute significantly to refractories production costs. Changes in energy prices, driven by factors such as geopolitical tensions, supply disruptions, or shifts in energy policies, can impact overall production expenses.
In addition, the refractories industry often involves international trade, and changes in exchange rates can impact the cost of imported raw materials. Currency fluctuations introduce an additional layer of uncertainty for manufacturers.
Recent Developments
- In May 2022, Lhoist and Air Liquide entered into a Memorandum of Understanding (MoU) with the objective of decarbonizing Lhoist’s lime production plant in Réty, located in the Hauts-de-France region, by leveraging Air Liquide’s innovative CryocapTM carbon capture technology. Additionally, both companies have collaboratively sought support from the European Innovation Fund's large-scale support scheme. This partnership marks a significant advancement in establishing a low-carbon industrial ecosystem in the wider Dunkirk area.
- In April 2021, Minerals Technology Inc. signed an agreement with Zhumadianshi Baiyun Paper Co., LTD to build a satellite precipitated calcium carbonate facility with a capacity of 50,00 metric tons per year at the paper mill compound of Zhumadianshi Baiyun Paper Co., LTD in Henan province, China. The company expects that the new facility would improve its production and sales capacity
Global Refractories Market Scope
The global refractories market is segmented into six notable segments which are based on product type, alkalinity, form type, fusion temperature, application, and technology. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Non-Clay
- Clay
On the basis of product type, the market is segmented into non-clay and clay.
Alkalinity
- Acidic & Neutral Refractories
- Carbon
On the basis of alkalinity, the market is segmented into acidic & neutral refractories and carbon.
Form Type
- Bricks
- Monolithic
- Others
On the basis of form type, the market is segmented into bricks, monolithic, and others.
Fusion Temperature
- Normal Refractory (1580-1780 °C)
- High Refractory (1780-2000 °C)
- Super Refractory (>2000 °C)
On the basis of fusion temperature, the market is segmented into normal refractory (1580-1780 °C), high refractory (1780-2000 °C), and super refractory (>2000 °C).
Technology
- Isostatic Pressing
- Slide Gates Mechanism
- Others
On the basis of technology, the market is segmented into isostatic pressing, slide gates, mechanism, and others.
Application
- Iron & Steel
- Cement & Lime
- Energy & Chemicals
- Glass
- Non-Ferrous metal
- Others
On the basis of application, the market is segmented into iron & steel, cement & lime, energy & chemicals, glass, non-ferrous metal, and others.
Global Refractories Market Regional Analysis/Insights
The global refractories market is analyzed, and market size insights and trends are provided by product type, alkalinity, form type, fusion temperature, application, and technology as referenced above.
The countries covered in the global graphite Market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Norway, Finland, Denmark, Netherlands, rest of Europe, Japan, China, South Korea, India, Australia, New Zealand, Singapore, Thailand, Indonesia, Malaysia, Taiwan, Finland, Philippines, rest of Asia-Pacific, Brazil, Argentina, and rest of South America, South Africa, United Arab Emirate, Saudi Arabia, Egypt, Israel, Oman, Qatar, and rest of Middle East and Africa.
Asia-Pacific region is expected to dominate the market due to the enormous population that creates a large demand for steel in the building and automotive industry. China dominates the Asia-Pacific region due to the large application of refractories in the iron and steel industry. The U.S. dominates the North America region due to increasing demand due to growing demand for metal and non-metal castings in the manufacturing of heavy machinery. Germany dominates the Europe region due to the growing application of refractories in various industries such as cement and lime, energy, and chemicals among others.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries.
Competitive Landscape and Global Refractories Market Share Analysis
The global refractories market competitive landscape provides details of competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the global refractories market.
Some of the major players operating in the global refractories market are Saint-Gobain Performance Ceramics & Refractories (PCR) (a subsidiary of Saint-Gobain), TYK CORPORATION, Wuxi Nanfang Refractories Co.,Ltd, Coors Tek, Refratechnic, HWI, AluChem, ALTEO, CerCo Corporation, Almatis, Allied Mineral Products, Inc., Magnezit Group, Minerals Technologies Inc., Puyang Refractories Group Co.,Ltd, Morgan Advanced Materials, IFGL Refractories Limited, Krosaki Harima Corporation., SHINAGAWA REFRACTORIES CO.,LTD., RHI Magnesita GmbH, Lhoist, Vesuvius, and Imerys among others.
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