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Global Refractories Industry Report: Country Overview; Value Chain Analysis; Production Process; Trade Analysis; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis; Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Refractories Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices


The global Refractories market reached a volume of about 24.12 MMT in 2021. The industry is projected to grow at a CAGR of around 4% in the forecast period of 2022-2027 to reach a volume of about 29.63 MMT by 2027.

The global Refractories industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is primarily driven by the growing demand from the iron and steel industry. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.

Industry Definition and Segmentation

Refractories are ceramic materials that can endure extremely high temperatures, pressure, or chemical assault while maintaining their strength and shape. They are utilised to line the hot surfaces found within many industrial processes because they are more heat resistant than metals. Polycrystalline, polyphase, inorganic, non-metallic, porous, and heterogeneous refractories are all refractories. They are often made up of silicon, aluminium, magnesium, calcium, and zirconium oxides, carbides, and nitrides, among other components. The Refractories industry report comprises segments by product (Fireclay, Magnesia, Alumina, and Bauxite), end-use (Steel, Energy, Chemical, Non-Ferrous Metals, Cement, and Glass), and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

The Asia Pacific Region is Driving the Growth of the Industry

The Asia Pacific holds the largest share in the industry due to the increasing consumption of refractories in the iron and steel, power generation cement, and glass industries in countries like China, Japan, India, and South Korea. China is the largest economy in the Asia-Pacific region, with one of the world's top manufacturing and industrial industries. Due to the easy availability of raw materials such as magnesite, China dominates the refractories industry in consumption and production.

The rise in construction activities is driving the market. Growing urbanisation and industrialisation have resulted in enormous residential and commercial development investments, particularly in rising economies like India and China. The increasing speed of infrastructure development in these emerging nations has resulted in a surge in refractory demand in the iron, steel, and cement sectors. In addition, rising building activity in emerging countries is projected to fuel the glass sector, which would, in turn, fuel demand for refractories.

However, the decline of the iron and steel sector can hamper the industry's growth.

Best Procurement Practices

The global Refractories industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Refractories regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Raw material processing, forming, fire, and final processing are steps in the refractory production process. Raw material processing entails crushing and grinding raw materials, followed by size sorting, calcining, and drying. After that, the raw material can be dry-mixed with additional minerals and chemical compounds, packaged, and sent as a finished product. Mixing the essential ingredients and moulding them into the appropriate forms is what forming is all about. The material is heated to high temperatures in a periodic (batch) or continuous tunnel kiln to generate the ceramic bond that provides the product with its refractory qualities. The finalised product is milled, ground, and sandblasted in the final processing stage. After thermal expansion, this phase retains the product in the proper form and size.

Shift Towards Sustainability due to Concerns Over the Environment, Further Driving the Procurement of Refractories

The industry is witnessing growth due to the significant rise of iron and steel production in emerging nations and the increased output of non-ferrous materials driving the market's expansion. Internal lining applications in iron steel and non-ferrous manufacturing are covered by refractories, further augmenting the market. The need for refractory product recycling has increased as the cost of raw materials, and freight has risen. Due to environmental demands, enterprises have been forced to explore more sustainable options for refractory applications. As a result, the industry is likely to expand.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Refractories Industry Report

  • Vesuvius Plc
  • RHI Magnesita NV
  • TRL Krosaki Refractories Limited
  • Imerys S.A,
  • Resco Products Inc.

Market Landscape

The global market is fragmented, with a few key players. Significant companies are concentrating on improving their sales and distribution networks. Some market participants are also focused on inorganic development methods such as strategic acquisitions, complemented by organic growth strategies such as manufacturing capacity expansions across regions to boost global volume sales while also meeting local demand.

Key Initiatives by Companies

  • ArcelorMittal Refractories, a subsidiary of the ArcelorMittal Group, signed a collaboration agreement with Krosaki Harima Corporation in May 2021. By using Krosaki Harima's manufacturing technology, the companies will augment manufacturing competencies and develop ArcelorMittal Refractories' refractory product offering.
  • Imerys began operations at their new Vizhag refractory facility in June 2021. The Imerys Group spent INR 350 crores to build the plant, which would serve local consumers. The new factory will supply calcium aluminate binders to the refractory and building markets.

1.    Executive Summary
2.    Refractories Industry Snapshot

    2.1.    Refractories Market Outlook
    2.2.    Refractories Industry Analysis by Product
        2.2.1.    Fireclay
        2.2.2.    Magnesia
        2.2.3.    Alumina
        2.2.4.    Bauxite
    2.3.    Refractories Industry Analysis by End-Use 
        2.3.1.    Steel
        2.3.2.    Energy, Chemical
        2.3.3.    Non Ferrous Metals
        2.3.4.    Cement
        2.3.5.    Glass
    2.4.    Regional Overview
        2.4.1.    North America
        2.4.2.    Europe
        2.4.3.    Asia Pacific 
        2.4.4.    Latin America
        2.4.5.    Middle East & Africa
3.    Impact of Recent Events 
4.    Refractories Value Chain Analysis 
5.    Refractories Production Process
6.    Trade Analysis 
7.    Major Risk Factors in Sourcing
8.    Refractories Cost Structure
9.    Refractories Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Refractories Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    SWOT Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Feedstock Market Analysis
    13.1.    Market Overview
    13.2.    Price Analysis 
14.    Industry Best Practices
    14.1.    Sourcing Strategy
    14.2.    Procurement Model
    14.3.    Contract Structure
    14.4.    Negotiation Levers
    14.5.    Pricing Model
    14.6.    Key Factors Influencing the Quotation 
15.    Key Supplier Analysis
    15.1.    Vesuvius Plc
    15.2.    RHI Magnesita NV
    15.3.    TRL Krosaki Refractories Limited
    15.4.    Imerys S.A.
    15.5.    Resco Products Inc.

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Key Questions Answered in the Report

The global Refractories market size reached the volume of about 24.12 MMT in 2021.

As per the product provided, the Fireclay segment is anticipated to lead the market between 2021 and 2027.

The significant demand for the product in the iron and steel industry is one of the essential drivers of the Refractories market growth.

Vesuvius Plc, RHI Magnesita NV, TRL Krosaki Refractories Limited, Imerys S.A,  and Resco Products Inc. are a few of the major players in the market.

The Asia Pacific region of the Refractories industry holds a significant share in the market.

Analyst Review

The global Refractories market attained a value of 24.12 MMT in 2021, driven by the rise in construction activities. The growing urbanisation and industrialisation resulting in residential and commercial investment boost market growth. Aided by the increasing focus on Exploring more sustainable options for refractory applications due to environmental demands, the market is expected to witness a further increase in the forecast period of 2022-2027, growing at a CAGR of 4%. The market is projected to reach 29.63 MMT by 2027. Some of the leading players in the industry are Vesuvius Plc, RHI Magnesita NV, TRL Krosaki Refractories Limited, Imerys S.A, and Resco Products Inc.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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