Refractory Material Market is Expected to Reach USD 31.40 billion by 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Refractory Material Market” that contains information from 2018 to 2032. The Refractory Material market is estimated to register a CAGR of 5.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Refractory Material market— Calderys, Dalmia Bharat Refractory, IFGL Refractories Ltd., Krosaki Harima Corporation, Lanexis, Morgan Advanced Materials, RHI Magnesita GmbH, Saint Gobain, SHINAGAWA REFRACTORIES CO., LTD., Vitcas.

Refractory Material Market Highlights

The global Refractory Material market is accounted to register a CAGR of 5.20% during the forecast period and is estimated to reach USD 31.40 billion by 2032.

The refractory material market is characterized by significant growth, fueled by escalating demand from industries such as steel, cement, and glass manufacturing, the expansion of infrastructure projects worldwide, and the increasing focus on high-temperature resistance and energy efficiency in industrial processes. Ongoing technological advancements and innovations in refractory materials to enhance performance, durability, and sustainability contribute to market dynamism.

Segment Analysis

The global Refractory Material market has been segmented based on chemistry, form and end use.

On the basis of chemical, the market is segmented into Acidic, Basic and Neutral. The basic segment was attributed to holding the largest market share in 2022, as it underpins the formulation and properties of these essential products.

Based on form, the global Refractory Material market has been segmented into Shaped and Unshaped. The shaped segment was expected to hold the largest market share in 2022, due to their tailored designs that fit specific applications in various industries.

Based on end use, the global Refractory Material market has been segmented into Metal & Metallurgy, Cement, Glass & Ceramics, Power Generation and Others. The metal & metallurgy segment was expected to hold the largest market share in 2022, due to the indispensable role of refractories in various critical processes within this industry.

Regional Analysis

The global Refractory Material market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Refractory Material market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Refractory Material market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Refractory Material market comprises of Middle East, Africa, and Latin America.

The largest market share for Refractory Material was maintained by the North American regional sector. This increase is attributed to a robust demand from the region's thriving steel and metal industries, where refractories play a critical role in high-temperature applications such as furnaces and smelting operations. The ongoing growth in infrastructure projects, particularly in the construction and manufacturing sectors, further propels the demand for refractory materials used in kilns, boilers, and other industrial applications.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Refractory Material is driven by the robust demand from the steel and metal industry, where refractories are essential for high-temperature applications such as blast furnaces and ladle lining. Additionally, the region's commitment to sustainability and energy-efficient industrial practices further fuels the adoption of advanced refractory materials designed.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's burgeoning steel and cement industries, rapid industrialization, and extensive infrastructure development, which intensify the demand for durable and high-performance refractory materials. Additionally, the focus on energy-efficient and sustainable manufacturing practices further propels the adoption of advanced refractory solutions in key sectors.

Furthermore, the rest of the world's Refractory Material market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's flourishing metal, cement, and petrochemical industries, alongside growing investments in infrastructure projects and a rising focus on advanced, durable refractory solutions for high-temperature applications.

Key Findings of the Study

• The global Refractory Material market is expected to reach USD 31.40 billion by 2032, at a CAGR of 5.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the region's thriving steel, cement, and manufacturing industries, rapid urbanization, and the increasing demand for high-performance refractory solutions.


• Based on chemistry, the basic segment was attributed to holding the largest market in 2022, with an approximate market share of 45–60%.


• Calderys, Dalmia Bharat Refractory, IFGL Refractories Ltd., Krosaki Harima Corporation, Lanexis, Morgan Advanced Materials, RHI Magnesita GmbH, Saint Gobain, SHINAGAWA REFRACTORIES CO., LTD., Vitcas.