- Refractories, offering high-temperature resistance and durability, are vital components in modern industrial processes, including steelmaking, glass manufacturing, and cement production, due to their crucial role in ensuring operational efficiency and prolonging equipment lifespan
- The escalating demand for refractories is primarily fueled by the sustained growth of heavy industries, increasing infrastructure development, and a rising focus on energy efficiency and sustainable manufacturing practices across Europe
- Europe holds a significant market share (approximately 14.2% in 2024). Within Europe, Germany traditionally holds the largest market share, characterized by its robust industrial base, while countries like the UK and Russia are experiencing substantial growth, driven by investments in modernization and infrastructure
- The Iron & Steel segment continues to dominate the refractories market in Europe with a significant market share of around 64.89% in 2024, driven by the extensive use of refractories in various steelmaking processes. The Glass & Ceramics segment is expected to be the fastest-growing during the forecast period due to increasing demand from these industries
