A global leader sought to assess the overall Market Opportunities for refractory materials in India.
The market is witnessing steady growth, driven by rising demand from Steel, Cement, Non-Ferrous, Power, Chemical, and Ferro Alloy Industries. The Atma Nirbhar Bharat initiative and global shift away from China have strengthened demand for Indian refractories, domestically and internationally.
With this momentum, the client – known for high-quality refractory products across industries, is now exploring new Market Opportunities in other growing sectors within India.
Infogence conducted in-depth primary research to evaluate the Market Size, Client Market Share, and Potential Market to improve their business in this market.
The study offered actionable insights to increase market share by identifying key segments, targeting specific customers & products, and strengthening distribution channels.
Market Overview:
Our research valued the Indian refractory market at USD XXX Mn, with a volume of XXX units in 2024. We project the market to grow to USD XXX Mn by 2029, reflecting a CAGR of 7%. India’s refractory market is witnessing strong growth, driven by rising output in core industries like steel, cement, and non-ferrous metals.
The steel sector alone is projected to grow from 151 MMT in 2025 to 255 MMT by 2030 at 11% CAGR. The National Steel Policy targets 300 MMT by 2030–31 and 500 MMT by 2047. This significantly increases demand for refractories in blast furnaces, converters, ladles, and other high-temperature units.
The Aluminum Association of India expects Aluminum demand to reach 10 million tons by 2030 in non-ferrous metals. Copper production (~0.5 MMT) trails consumption (>0.75 MMT), with imports around ~0.5 MMT. Copper demand is likely to double by 2030, driving capacity expansion and import substitution.
As a result of these trends, Atma Nirbhar Bharat is creating major opportunities for Indian refractory manufacturers domestically. Moreover, global de-risking from China is further opening significant opportunities for Indian refractory players in international markets.
Key Questions Addressed: To guide the manufacturer, Infogence explored several critical questions:
- Market Size: What is the market Value and Volume for refractory used across Steel, Cement, Non-ferrous, Glass, Power, Lime Kiln, Foundry, Petrochemical, Chemical, Ferro Alloy etc.?
- Segmentation: How is the market segmented by Brands, Applications, Segments, Types of Refractory Material, and Geography?
- Competitive Landscape: Who are the major competitors, and what are their market shares, distribution structure, revenue from refractory business, split by type of refractory within refractory, such as Monolithic, Alumina, Magnesia, Fireclay, Dolomite, Magnesia-Chrome Silica, etc.?
- Growth Opportunities: What are the growth opportunities and challenges, particularly in the refractory segment?
- Five-Year Outlook: What is the outlook for the next five years?
Research Methodology: To ensure a well-rounded market assessment, we conducted extensive qualitative primary research to analyze both the demand and supply sides. Specifically, we engaged with over 110+ Stakeholders, including Competitors, Distributors, Contractors, Consultants, End Users, and Industry Experts. As a result, this comprehensive engagement provided a detailed assessment of the market.
Strategic Recommendations: Based on our findings, the refractory player gained valuable insights into segment-wise growth and Market Opportunities. We customized the strategy to capitalize on these insights with a focus on high-potential segments and priority geographies. We targeted well-defined customer profiles and specific product categories to drive growth and increase market share.
Conclusion: Through extensive primary research, Infogence provided the refractory player with a deep understanding of the Indian refractory market across multiple industries. The study delivered actionable insights to support market share growth through focused segment targeting and improved distribution strategies. This strategic roadmap positions the company to effectively capitalize on the rising demand in the refractory sector over the next five years.
Contact us to uncover the right opportunities & make informed strategic moves.