During the course of the forecast period, robust rise in the production of iron and steel in developing nations is anticipated to boost growth of the global refractories market. Refractory materials can maintain their shape and strength while resisting chemical attacks or high-temperature disintegration. Due to their minimal maintenance requirements, efficient operations, and safety, these materials are used as a fundamental component in larger industrial equipment for internal lining. To create steel and iron vessels that store and convey slag and metal, the steel industry needs internal linings. As a result, rising steel and iron output will probably increase demand for refractories, which will fuel market expansion.
The global Refractories Market size was valued at USD 52,260.0 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.0% from 2022 to 2030.
Prominent Players in the Refractories Industry:
1. Puyang Refractories Group Co. Ltd.
Puyang Refractories Group Co., Ltd. manufactures and sells refractory products for the steel industry worldwide. Puyang Refractories Group Co., Ltd. was founded in 1988 and is headquartered in Puyang, the People's Republic of China.
2. Chosun Refractories
Chosun Refractories Co.,Ltd. manufactures and sells various refractory products in South Korea and internationally. Chosun Refractories Co.,Ltd. was founded in 1947 and is headquartered in Gwangyang, South Korea.
3. INTOCAST AG
Founded in 1979, INTOCAST Group has grown over the decades into an enterprise that is now active globally. The company has headquarters situated in Ratingen, Germany.
4. Harbisonwalker International
Founded 2000, HarbisonWalker International is the largest supplier of refractory products and services in the United States. Headquartered in Pittsburgh, Pennsylvania.
5. Saint-Gobain
Compagnie de Saint-Gobain S.A. designs, manufactures, and distributes materials and solutions for wellbeing worldwide. The company was founded in 1665 and is headquartered in Courbevoie, France. In January, 2023 AGC and Saint-Gobain, worldwide flat glass manufacturers leading in sustainability, announce that they are collaborating on the design of a pilot breakthrough flat glass line that is expected to reduce very significantly its direct CO2 emissions.
6. IFGL Refractories Ltd.
IFGL Refractories Limited engages in the manufacture, trade, and sale of refractory items and related equipment and accessories used in steel plants in India and internationally. IFGL Refractories Limited was incorporated in 2007 and is headquartered in Kolkata, India.
7. Vesuvius
Vesuvius plc provides engineering services and solutions principally to steel and foundry industries worldwide. It operates in two divisions, Steel and Foundry. Vesuvius plc was founded in 1916 and is headquartered in London, the United Kingdom.
8. Imerys
Imerys S.A. provides mineral-based specialty solutions for various industries worldwide. The company operates in Performance Minerals and High Temperature Solutions segments. The company was incorporated in 1880 and is headquartered in Paris, France. Imerys S.A. is a subsidiary of Belgian Securities BV.
9. Shinagawa Refractories Co. Ltd.
Shinagawa Refractories Co., Ltd. manufactures and sells refractory products in Japan. The company exports its engineering and refractory products to approximately 50 countries. Shinagawa Refractories Co., Ltd. was founded in 1875 and is headquartered in Tokyo, Japan.
10. Krosaki Harima Corporation
Krosaki Harima Corporation, together with its subsidiaries, manufactures and sells refractory and ceramic products in Japan and internationally. Krosaki Harima Corporation was incorporated in 1918 and is headquartered in Kitakyushu, Japan.
*Definition- Refractories are non-metallic materials utilised in a variety of non-ferrous industrial processes as internal lining applications.
