Electric arc, and ladle, furnaces 10 have components 14 with a high-emissivity/high reflectivity layer 18 disposed on the hot face 16. The component 14 includes a water-cooled panel 40, a duct 34, roof 12 frame 38, pipes, dry delta 36, water-cooled delta 28, fourth hole elbow 32, fourth hole roof 42, side walls 26 and combinations thereof. The high-emissivity/high-reflectivity layer 18 comprises, in dry admixture, from about 5% to about 40% of an inorganic adhesive, from about 45% to about 92% of a filler, and from about 1% to about 25% of one or more emissivity agents.