Global Refractory Market Size was $33.21 Billion in 2023

Global Refractory Market Overview

According to Global Market Monitor, the global refractory market size was $33.21 billion in 2023 with a CAGR of 3.26% from 2023 to 2028. Refractory generally refers to materials used in high-temperature environments. Refractories are products processed by a certain technological process, with high-temperature mechanical properties and good volume stability. Refractories are important basic materials related to high-temperature industries such as iron and steel, energy and chemical industries, non-ferrous metals, cement, and glass, and are also indispensable supporting materials for various high-temperature industrial thermal furnaces and equipment.

Market Drivers

Because refractory materials have a wide range of applications, the development of refractory materials is undoubtedly an important way to promote the development of production levels. Amorphous and other refractory materials are new types of refractories with high-performance structural materials. Unshaped refractories not only have huge advantages in application, but also have short production cycles, energy saving, good integrity, strong adaptability, and comprehensive Advantages such as good use effect. With the worldwide focus on the low-carbon economy and environmental protection, as well as the difficulties in the effective use of natural resources, manufacturers in the refractory industry are constantly strengthening innovative work on raw materials and basic research to improve the energy efficiency and use efficiency, reduce pollution, and realize the sustainable development of the refractory industry.

Market Segment

Shaped refractories are finished refractory products whose shapes have been determined and cannot be changed, including clay bricks, high alumina bricks, and so on. Unshaped refractories are refractory materials that are mixed with refractory aggregates and powders, binders, and additives with a certain particle size gradation. Unshaped refractories are used for the lining of thermal equipment without the firing process. Compared with refractory bricks, it has the characteristics of a simple process, energy saving, low cost, and easy mechanized construction.

By Type	Shaped Refractories Unshaped Refractories	Shaped refractories dominate a larger share.
By Application	Steel Industry Energy and Chemical Industry Non-ferrous Metal Cement Glass	The steel industry is the major application field.
By Region	North America Europe Asia Pacific Middle East & Africa	The Asia Pacific dominates the market.