Infrastructure Push in 2025 Highlights Sustainable, Localised Growth

Speaking on trends in the refractories sector, Ish Mohan Garg, Senior Vice President – APAC Region, Calderys, said 2025 marked a defining year driven by strong expansion in steel and cement. He noted that India’s refractories market, valued at USD 2.50 billion in 2024, is projected to reach USD 3.40 billion by 2033, supported by rising crude steel production and capacity expansion targets.

According to Garg, refractories are evolving from a consumable input to a critical enabler of productivity and operational continuity, with demand shifting towards high-performance and monolithic solutions. He added that investments in local manufacturing, including Calderys’ CAPES facility in Odisha, are strengthening the company’s ability to deliver market-specific solutions while integrating energy efficiency and resource optimisation.

In the vertical mobility segment, Umang Bansal, Chairman, Polo Elevators, said India’s elevator market continued to grow in 2025 on the back of urbanisation, high-rise residential projects and infrastructure investments in metros, airports and transit hubs. He highlighted increasing demand for energy-efficient, digitally connected and safety-centric systems, with developers prioritising lifecycle performance over basic transport.

Bansal added that as a Make-in-India manufacturer, Polo Elevators aims to expand nationwide, strengthen R&D and exports, and lead the customised luxury elevator segment by 2030. Looking ahead, he said 2026 will require balancing speed of execution with customisation, safety and environmental responsibility as India’s skylines continue to rise.

Together, perspectives from refractories and elevators point to a common direction—growth anchored in technology, sustainability and stronger domestic ecosystems. As India moves into 2026, the emphasis is increasingly on building world-class infrastructure and manufacturing while reducing energy use, emissions and long-term operating costs.