Global Refractories Market Overview

The global refractories market size was valued at USD 45.36 billion in 2024 and is projected to reach USD 95.96 billion by 2033, growing at a CAGR of 9.1% from 2025 to 2033. The production of crude steel through basic oxygen furnaces (BOF), electric arc furnaces (EAF), and induction furnaces (IF) demands large volumes of both shaped and unshaped refractories capable of withstanding extreme temperatures and chemical corrosion.

As infrastructure and construction activities expand across India, China, and Vietnam, steel consumption continues to surge, thereby increasing refractory demand. Furthermore, green steel initiatives in Europe and Asia are driving investment in new EAF facilities, further stimulating refractory consumption. Cement kilns, operating at temperatures exceeding 1400°C, require periodic refractory lining replacements. Rapid urbanization and population growth in the Asia Pacific and Africa regions are spurring construction of roads, bridges, residential, and commercial buildings, which in turn boosts cement production. Expansion plans by major cement producers in India, Indonesia, and Nigeria are also fueling the demand for both basic and non-basic refractories.

Growing demand from the non-ferrous metals industry is another key market driver. Smelters producing copper, aluminum, zinc, and nickel require advanced refractory linings to manage high thermal loads and resist chemically aggressive slags. With the global shift toward clean energy, the need for these metals in EV batteries, wind turbines, and solar panels is increasing. Consequently, companies in Latin America, Africa, and Australia are expanding and upgrading their smelting capacities, ensuring consistent refractory usage.

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The application of refractories in waste-to-energy (WTE), glass, and petrochemical industries further enhances market diversity. Incineration and biomass energy plants depend on refractory linings to prevent structural wear, while glass furnaces and chemical reactors rely on high-grade materials to ensure efficiency and reduce maintenance downtime. Rising environmental awareness and stricter waste management regulations continue to encourage investments in these sectors, reinforcing long-term demand for refractories.

Technological advancements and product innovation are transforming the industry. Manufacturers are emphasizing high-performance monolithic refractories, castables, and precast shapes that deliver improved energy efficiency and extended service life. The trend toward recyclable, low-carbon, and energy-efficient materials is particularly strong in Europe and North America. Additionally, digital monitoring and predictive maintenance technologies are being adopted to enhance refractory performance in advanced industrial operations, strengthening the market’s resilience and future-readiness.

Key Market Trends Insights

• Asia Pacific dominated the global refractories market with the largest revenue share of 74.8% in 2024.
• The U.S. refractories market is anticipated to grow at a CAGR of 9.1% from 2025 to 2033.
• By end use, the iron steel segment accounted for over 67.0% of revenue in 2024.

Market Size Forecast

• 2024 Market Size: USD 45.36 Billion
• 2033 Projected Market Size: USD 95.96 Billion
• CAGR (2025–2033): 9.1%
• Asia Pacific: Largest market in 2024
• Europe: Fastest-growing market

Key Company Insights

RHI Magnesita
Headquartered in Austria and operating in over 120 countries, RHI Magnesita is a global leader in refractory products and solutions. Its fully integrated supply chain covers raw material mining, manufacturing, engineering, installation, and recycling. The company serves industries such as steel, cement, glass, non-ferrous metals, and energy, and is renowned for innovations in high-temperature materials and digital monitoring technologies that enable real-time performance tracking and wear prediction.

Imerys
Based in France, Imerys is a multinational corporation specializing in industrial minerals. Previously, its High Temperature Solutions (HTS) division operated a major refractory business, which was divested in 2023 and now functions independently as Calderys, a global refractory supplier. Before the divestiture, Imerys was known for its integrated approach to mining, mineral processing, and customized refractory formulations, particularly serving steel, cement, and foundry sectors.

Other Key Players

• Chosun Refractories Co., Ltd.
• CoorsTek Inc.
• HarbisonWalker International
• Krosaki Harima
• Morgan Advanced Materials
• Saint-Gobain SEFPRO
• Shinagawa Refractories
• Vesuvius

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Conclusion

The global refractories market is poised for robust growth, driven by expanding steel and cement industries, accelerating energy transition, and diversification across non-ferrous, WTE, and petrochemical sectors. Asia Pacific remains the dominant market, while Europe leads in innovation and sustainability. With advancements in digitalization and eco-efficient materials, the refractories industry is evolving toward higher performance, longer lifecycles, and reduced environmental impact—positioning it as a critical enabler of global industrial progress.