Which well-known domestic refractory materials companies are there at present? Please advise.

I saw this question rather late, but I believe I can provide an authoritative answer. Refractory materials constitute a broad category, with distinct rankings in each sub-sector. Given differences in corporate backgrounds and product portfolios, individual situations vary—but if we define 'well-known' by revenue, that offers the most straightforward benchmark. As someone working in this industry, I’ll address your question from a macro perspective—based on revenue. Globally, the undisputed leader remains RHI Magnesita (Austria), especially after its acquisition of Magnesita Refractories SA (Brazil), which solidified its top position. Second is Vesuvius plc (UK). Below are the specific rankings: RHI AG (Austria) — RHI Magnesita Refractories SA (Brazil) Vesuvius plc (UK) Imerys (France) Krosaki Harima Corp. (Japan) Shinagawa Refractories (Japan) Magnezit (Russia) Harbison Walker International (USA) Morgan Advanced Materials (UK) Refractechnik (Germany) RHI and Magnesita have merged, forming the new entity RHI Magnesita. Their respective revenues in 2015 were €1.753 billion and €0.914 billion; the combined entity has become a global refractories giant. Part II: Domestic Market Based on 2015 revenue, Yingkou Qinghua Refractories Co., Ltd. ranked first domestically—but it is reportedly now surpassed by Puyang Puhai High-Temperature Materials (Group) Co., Ltd. This provides a useful reference point. I happen to have data for the top 100 domestic companies, with figures shown in RMB billions: No need to send private messages. Yingkou Qinghua Refractories Co., Ltd.: 3.445 Haicheng Houying Economic & Trade Group Co., Ltd.: 2.1 Puyang Puhai High-Temperature Materials (Group) Co., Ltd.: 2.02 Wuhan Iron and Steel (Group) Refractories Co., Ltd.: 1.957 Yingkou Jinlong Group: 1.551 Haicheng Magnesite Refractories General Factory: 1.479 Ruitai Science & Technology Co., Ltd.: 1.389 Zhejiang Zili Co., Ltd.: 1.21 Shandong Luyang Co., Ltd.: 0.979 O-MAG Trading (Dalian) Co., Ltd.: 0.95 Beijing Lier High-Temperature Materials Co., Ltd.: 0.919 Tongda Refractory Technology Co., Ltd.: 0.91 Vesuvius Advanced Ceramics (Suzhou) Co., Ltd.: 0.893 Jinan Iron and Steel Group Refractories Co., Ltd.: 0.818 Sinosteel Luoyang Refractories Research Institute Co., Ltd.: 0.791 Sinosteel Refractories Co., Ltd.: 0.783 Shandong Refractories Group Co., Ltd.: 0.715 Pangang Metallurgical Materials Co., Ltd.: 0.714 Haicheng Huayu Group: 0.671

[Guojin Research] Refractories Industry Report: The Industry Has Reached an Inflection Point; Leading Enterprises Stand to Benefit

1.3 Multiple Factors Driving Industry Consolidation and Rising Concentration Policy initiatives are guiding upward industry concentration. According to policy targets, China’s refractories industry still has substantial room for consolidation. In 2013, the Ministry of Industry and Information Technology (MIIT) issued the ‘Several Opinions on Promoting Healthy and Sustainable Development of the Refractories Industry’, stipulating that the market share of the top ten enterprises should reach 45% by 2020. It also outlined eight key tasks: promoting mergers and acquisitions; optimizing industrial layout; strengthening energy conservation; enforcing strict environmental management; developing high-end products; encouraging technological innovation; phasing out outdated kiln-based production capacity; and enhancing workplace safety. Similarly, the China Refractories Association’s ‘13th Five-Year Plan for the Chinese Refractories Industry’ set the same target: achieving a 45% market share for the top ten enterprises by 2020. Relevant government departments have introduced policies and regulatory requirements to eliminate outdated capacity and raise industry entry thresholds—thereby driving industry concentration upward. The MIIT’s ‘Several Opinions…’ explicitly calls for gradually raising industry entry standards, accelerating the phase-out of outdated capacity characterized by low energy efficiency, heavy pollution, and serious safety hazards, and timely revising/refining industry access criteria to standardize market entry. On January 4, 2018, and September 4, 2019, the MIIT published two batches of production lines meeting the industry’s regulatory standards—totaling 72 lines—which served as effective models. In January 2020, the National Development and Reform Commission (NDRC) implemented the ‘Industrial Structure Adjustment Guidance Catalogue (2019 Edition)’, providing detailed classifications of encouraged, restricted, and eliminated categories for the refractories industry—including listing chromium-containing refractories under the ‘restricted’ category and coal-fired down-draft kiln refractories and raw material production lines under the ‘eliminated’ category. The restructuring of refractories subsidiaries under China Building Materials Group and China Baowu signals the start of industry consolidation. In August 2020, Ruitai Science & Technology announced plans to acquire, via share issuance, 100% equity in Wuhan Refractories held by Wuhan Iron and Steel Group and 40% equity in Ruitai Magang held by Maanshan Iron and Steel Group. Upon completion of this share issuance and asset acquisition, Wuhan Refractories and Ruitai Magang will become wholly owned subsidiaries of Ruitai Science & Technology, while Ruitai’s ultimate controlling shareholder will shift from China Building Materials Group to China Baowu. This restructuring aligns with central SOEs’ consistent practice of boosting industry concentration—for example: prior to 2010, China Aluminum Corporation acquired aluminum smelters nationwide to consolidate the electrolytic aluminum and alumina sectors; around 2015, China Building Materials Group acquired cement enterprises across the country to consolidate the cement industry. In 2019, Ruitai Science & Technology reported revenue of RMB 3.9 billion, while Wuhan Refractories reported RMB 1.174 billion. Following the merger, Ruitai Science & Technology will become China’s largest and the world’s third-largest refractories producer, marking a rise in industry concentration—and signaling the formal launch of consolidation in China’s refractories sector. Analysis reveals that captive refractories enterprises (i.e., those affiliated with larger parent groups) generally exhibit weaker profitability compared to independent refractories firms. Ruitai Science & Technology, a subsidiary of China Building Materials Group, specializes in refractories for cement and glass applications; Wuhan Refractories, a subsidiary of Wuhan Iron and Steel Group, focuses on refractories for steelmaking. Both operate as ‘side businesses’ within their parent conglomerates—and both demonstrate relatively weak profitability.

Vesuvius Weighs RHI Magnesita's £1.37 Billion Bid; Shares Jump

1 day ago

British engineering firm Vesuvius is assessing a £1.37 billion cash-and-stock takeover bid from Austrian rival RHI Magnesita, causing its shares to surge 31%. Both companies specialize in heat-resistant materials essential for high-temperature industrial processes like steelmaking.

reuters

2026-09-29

Vesuvius Weighs RHI Magnesita's £1.37 Billion Bid; Shares Jump

Vesuvius Weighs RHI Magnesita's £1.37 Billion Bid; Shares Jump

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