Global Refractory Market Size will Reach $33392.14 Million in 2023

Global Refractory Market Overview

According to Global Market Monitor, global refractory market size will reach $33392.14 million with a CAGR of 3.23% from 2023 to 2028.

Since refractories have a wide range of applications, the development of refractories is undoubtedly an important way to promote the development of production levels. With the global concern for low-carbon economy and environmental protection, as well as the difficulties in the effective use of natural resources, refractory industry manufacturers wil continue to strengthen raw material innovation work and basic research to improve energy efficiency and use efficiency, reduce pollution, and achieve sustainable development of the refractory industry.

Market News

January 2023: RHI Magnesita GmbH announced the completion of its acquisition of Dalmia Bharat Refractories Limited\'s (DBRL) Indian refractory business.It planned to add almost 300,000 tons of capacity annually to the existing production footprint in India, enhancing the company’s business in the studied market.

December 2022: Shinagawa Refractories Co. Ltd (Shinagawa) acquired the Brazilian refractory business and alumina-based wear-resistant ceramics business from Compagnie de Saint-Gobain S.A. (Saint-Gobain) in the United States. This acquisition was expected to help the company enhance its product portfolio in the coming years.

Shaped refractories refer to finished refractories whose shape has been determined and cannot be changed, including clay bricks, high aluminum bricks, etc. Amorphous refractory is a refractory material composed of refractory aggregate and refractory powder, binder, and additives with a certain size distribution. Amorphous refractories are used for lining thermal equipment without going through the firing process. Compared with refractory brick, they have the characteristics of a simple process, energy saving, low cost, and convenient for mechanized construction.

Refractory materials are inorganic non-metallic materials that can withstand various physical and chemical changes and mechanical effects and are important basic materials for high-temperature industries. Refractory materials are widely used in iron and steel, energy and chemical industries, non-ferrous metals, cement, glass, and other high-temperature industries as cross-industry, multi-field common basic materials. Almost all industries that require hot working and heat treatment in the production process need the use of refractory materials.

Global Refractory Market Segment
By Type	Shaped Refractories Unshaped Refractories	The shaped industrial refractory materials segment held the largest market share in 2022.
By Application	Steel Industry Energy and Chemical Industry Non-ferrous Metal Cement Glass Others	The market\'s largest segment by application was the segment Iron & Steel in 2022.
By Region	North America Europe Asia Pacific South America Middle East & Africa	Asia Pacific held the largest market share in 2022.