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What Is The Estimated Industry Size Of Refractories Market?
The market size of refractories has seen consistent expansion in the past years. It is anticipated to increase from $28.41 billion in 2024 to $29.13 billion in 2025, with a compound annual growth rate of 2.5%. The growth during the historical period can be credited to factors such as the industrial revolution, rising steel production, the expansion of the iron and steel sectors, the evolution of the cement and glass industries, the growth of non-ferrous metal production, and the demand from chemical and petrochemical industries.

The expansion of the refractories market is projected to remain steady in the forthcoming years, escalating to a worth of $33.57 billion by 2029 with a compounded annual growth rate (CAGR) of 3.6%. This progression during the prediction period is likely due to expansion in infrastructural development, advancements in refractory design and application methodologies, growing presence in emergent markets, preference for high-temperature materials and a tilt towards environmentally friendly refractories. Predominantly in the prediction period, demand within the steel industry, acceleration of cement production, development in non-ferrous metals production, technological progression in refractory materials, and market proliferation within emerging economies are trends to look out for.

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What Are The Major Factors Driving The Refractories Global Market Growth?
The refractories market is experiencing an upswing due to the intensifying demand for iron and steel. This surge in demand is provoked by the expansion in infrastructure development, along with escalating car and railway sectors. Moreover, the growing appetite for energy-efficient methods of making steel for refractories is projected to experience a similar upward trajectory. Refractories serve as essential lining materials for working interfaces and backup zones in the steel and iron manufacturing processes. For example, it was reported by the India Brand Equity Foundation (IBEF) in October 2024, that due to the rise in construction activities, steel consumption is anticipated to swell by 17% and reach 110 million tons in FY22. Therefore, the burgeoning demand for iron and steel fuels the growth of the refractories market.

Who Are The Leading Companies In The Refractories Market?
Major players in the Refractories include:
. Saint-Gobain SA
. Kyocera
. Imerys
. RHI Magnesita GmbH
. Vesuvius
. Minerals Technologies Inc.
. Shinagawa Refractories Co Ltd.
. Morgan Advanced Materials
. Calderys
. CoorsTek

What Are The Prominent Trends In The Refractories Market?
In the refractories market, technological progress is a significant trend. Refractory production is improved via the use of artificial intelligence and machine learning for better efficiency. Machine learning (ML) models are fed with images and other data obtained from in-situ analysis. These models yield valuable insights that facilitate accurate forecasting of the product's operational span along with the optimal internal conditions, such as temperature, inside the reactor for obtaining the intended product like steel, glass, or cement, all while maintaining a minimal refractory layer. RHI Magnesita N.V., a refractory product, system, and service provider based in Austria, applies AI to glean insights from production data. Their Automated Process Optimization (APO) system collates all data from specific production processes and predicts the maintenance and substitution needs for refractory materials.

What Are The Primary Segments Covered In The Global Refractories Market Report?
The refractories market covered in this report is segmented –

1) By Form: Shaped Refractories, Unshaped Refractories

2) By Alkalinity: Acidic And Neutral, Basic

3) By Refractory Mineral: Bauxite, Alumina, Kaolin, Magnesia, Graphite, Zircon

4) By End-Use Industry: Iron And Steel, Power Generation, Non-Ferrous Metals, Cement, Glass, Other End-Users

Subsegments:

1) By Shaped Refractories: Brick Refractories, Precast Refractories, Monolithic Refractories

2) By Unshaped Refractories: Castables, Gunning Mixes, Ramming Masses, Mortars

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Which Region Is Forecasted To Grow The Fastest In The Refractories Industry?
In 2024, the Asia-Pacific region led the refractories market in size. The projection identifies growth within this region. The market report on refractories includes data from regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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