30,674.3 KT were estimated to have been sold worldwide in refractories in 2017. The volume of the worldwide refractories market is anticipated to increase at a volume CAGR of 4.1% over the forecast period (2018-2026), reaching 43,676.9 KT by the end of 2026. By 2026, the global market for refractories is anticipated to have grown at a CAGR of 4.2%, reaching a value of US$ 41,102.9 million.
The global refractories market is witnessing significant expansion, driven by a surge in demand from the construction and manufacturing sectors. Refractories, specialized materials with high resistance to heat and chemical corrosion, are playing a critical role in meeting the growing needs of industries that rely on extreme temperatures and harsh operating conditions.
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One of the key factors driving the expansion of the refractories market is the construction sector’s robust growth. As infrastructural projects continue to rise, the demand for refractory materials in applications such as furnaces, boilers, and kilns is witnessing a substantial uptick. Refractories are essential for ensuring the durability and efficiency of these structures, enabling them to withstand high temperatures and resist chemical erosion.
In addition to construction, the manufacturing sector is also contributing to the increased demand for refractories. Various industries, including iron and steel, glass, cement, and ceramics, heavily rely on refractory materials to facilitate their manufacturing processes. These materials provide vital insulation, corrosion resistance, and thermal stability, ensuring the smooth operation of equipment and machinery even under extreme conditions.
Moreover, technological advancements are further propelling the expansion of the refractories market. Ongoing research and development efforts are focused on enhancing the performance and lifespan of refractory materials, as well as exploring new compositions and manufacturing techniques. These advancements are enabling the development of more efficient and cost-effective solutions, driving the adoption of refractories across a wide range of industries.
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As the demand for refractories continues to surge in the construction and manufacturing sectors, the market is poised for remarkable growth. The vital role of refractory materials in withstanding extreme temperatures and harsh operating conditions is driving their increasing adoption across industries. With ongoing technological advancements, the refractories market is set to offer innovative solutions that cater to the evolving needs of various sectors.
Companies Covered in This Report –
- RHI Magnesita
- Krosaki Harima Corporation
- Compagnie de Saint-Gobain S.A.
- Shinagawa Refractories
- Calderys Refractories Limited
- Morgan Advanced Materials plc
- Minerals Technologies Inc.
- Qinghua Refractories
- HarbisonWalker International
- IFGL Refractories Limited
- Chosun Refractories ENG Co., Ltd.
- Magnezit Group
- Refratechnik Holding GmbH
- Carboundum Universal Limited
- Sibelco
- Vesuvius plc
- Others.
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Market Segmentation
| By Product Form |
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| By Refractory Mineral |
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| By End Use Industry |
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| By Region |
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