The global refractories market reached US$ 25.4 Billion in 2020, with moderate growth expected through 2026, driven by steel industry demand and infrastructure development.
According to IMARC Group’s latest report, titled “Refractories Market Share: Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026,” the global refractories market reached a value of US$ 25.4 Billion in 2020. Looking forward, the market is expected the market to exhibit moderate growth during 2021-2026.
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Refractories refer to the inorganic, non-metallic, porous, and heterogeneous materials equipped to resist high industrial temperature and pressure. Few refractory materials include fireclay, high alumina minerals, silica, magnesite, chromite, etc. They are used in boilers and furnaces to suppress heat and protect the processing equipment from high temperatures. They are available in various shapes and sizes that can be pressed or molded as per the requirements. Refractories are used across industries, including iron and steel manufacturing, energy, chemical, non-ferrous metals, glass, cement, and ceramics.
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Market Trends
The growing steel industry, along with the elevating infrastructure development, is augmenting the demand for refractory materials. These materials exhibit higher-temperature resistance than conventional ones, thereby positively influencing the market growth. The widespread adoption of unshaped refractories for several construction applications is also inflating the global market. Additionally, the high prevalence of recycling refractory materials for steel production is also augmenting the market growth. The growing popularity of refractories in various sectors, such as aerospace, automotive, medical, and electrical, is anticipated to drive the market.
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List of Key Companies Covered in this Market Report:
The report has segmented on the basis of form, alkalinity, manufacturing process, composition, refractory mineral and geography
Breakup by Form:
Breakup by Alkalinity:
Breakup by Manufacturing Process:
Breakup by Composition:
Breakup by Refractory Mineral:
Breakup by Application:
Breakup by Geography:
Key highlights of the report:
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The article discusses the refractories market, focusing on trends, growth, and forecasts from 2021 to 2026.
The market is driven by demand from the steel industry and infrastructure development, along with recycling practices.
Refractories are used in industries like iron and steel, energy, and chemicals to resist high temperatures and protect equipment.
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