Refractory industry in technologically advanced countries has long been on gradual decline due to leveled-off steel production and decreasing unit consumption of refractories for steel. Notable technological achievements by refractory industry that contributed significantly to steel production are briefly reviewed covering from blast furnace, basic oxygen furnace to continuous casting. Future possibility to revitalize the refractory industry is discussed on the basis of the review, taking into account opportunities available in environment and energy related sector of industries.