2024-2025 Global Magnesium-Based Refractory Materials Market Expands Steadily with Robust Growth in Segmented Sectors

The global magnesium-based refractory materials industry is maintaining a steady growth momentum, with both market size and demand in segmented sectors showing a positive trend. Data indicates that the global market size of magnesium oxide products reached approximately USD 38.67 billion in 2024 and is projected to exceed USD 41 billion in 2025, with a compound annual growth rate (CAGR) remaining at around 5.2%. Among these, refractory materials, as the largest downstream application sector of magnesium oxide products, account for over 50% of the market share and continues to dominate the direction of market demand.

 

Among segmented products, the magnesia-carbon brick market has demonstrated particularly outstanding performance. As a key refractory material in the iron and steel metallurgy industry, its market demand is closely linked to the development of the steel industry. It is estimated that the global magnesia-carbon brick market size will surpass USD 4.5 billion in 2025. China holds a significant position in this sector, accounting for 62% of the global market share, which fully reflects the core competitiveness of Chinese magnesium-based refractory material enterprises in the global industrial chain.

 

The growth driver of the global market stems not only from the demand support of the traditional steel industry but also from the increased performance requirements for magnesium-based refractory materials in the high-end manufacturing sector, driving the industry to continuously move toward the direction of high-value-added products.