Refractory Materials Market for GCC Steel Industry 2017-2021

Overview of the refractory materials market for GCC steel industry

According to the materials market for GCC steel industry overview, the rise in R&D activities will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s materials market research report predicts that this market will grow at a CAGR of more than 3% by 2021. Refractory materials play a vital role in improving the effectiveness of furnaces in steel manufacturing plants. Numerous research and development activities are taken up to enhance the production of refractory materials. These activities are mainly done to focus on the prevention of chemical corrosion taking place due to the molten slag, to reduce physical wear, and to improve the quality of the refractory material. R&D initiatives also provide a detailed study on the thermal, physical, and chemical attacks on the refractory materials. Such R&D activities towards increasing the efficiency levels of refractory materials will drive the materials market growth.

The use of monolithic refractories over shaped refractories is one of the key trends that will gain traction in this market. Monolithic refractories are widely used to make joint-free linings and achieve shape upon application. Most monolithic preparations consist of huge refractory particulates, fine filler constituents, and a binder phase. These preparations can be used for forms such as castables, plastics, gunning mixes, mortars, and ramming mixes. Additionally, monolithic refractories also have a wide range of mineral ingredients and differ in their physical and chemical behaviors. Some have lesser refractoriness, while others offer increased purity brick arrangements in their capability to resist adverse environments. Owing to such advantages, the demand for monolithic refractories will increase in the coming years.

Competitive landscape and key vendors

The refractory materials market in GCC steel industry consists of limited refractory materials manufacturers who are involved in the production of refractories. Most of these vendors manufacture both bricks and monolithic refractories. Nearly all the key vendors cater to the same industries such as iron and steel, cement, glass, non-ferrous metals, ceramics, and power generation. However, steel is the major focus industry for almost all the players.

The leading vendors in the market are –

• Calderys
• Magnesita Refratários
• RHI
• Saint-Gobain
• Vesuvius

The other prominent vendors in the market are Arabian Refractories Factory, Chosun Refractories, HarbisonWalker International, IFGL Refractories, Krosaki Harima, Magnezit Group, Minteq International, Morgan Advanced Materials and its affiliates, OCL India, Puyang Refractories Group, Refractarios ALFRAN, Refratechnik Steel, Rescoproducts, Saudi Refractory Industries, and SHINAGAWA REFRACTORIES.

Segmentation by form type and analysis of the refractory materials market for GCC steel industry

• Bricks
• Monolithic

During 2016, the bricks segment accounted for the major shares of the refractory materials market for GCC steel industry. Factors such as the increasing use of rectangular bricks in furnace lining applications and the availablity of various shapes for different uses, will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the refractory materials market for GCC steel industry

• KSA
• UAE
• Qatar

This market study estimates that in terms of geographic regions, KSA will be the major revenue contributor to the refractory materials market for GCC steel industry throughout the forecast period. The rise in construction and infrastructure development activities and the increasing investments in infrastructure, transportation, and housing projects, will drive the growth of the market in KSA.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the refractory materials market for GCC steel industry?
• What are the key market trends impacting the growth of the refractory materials market for GCC steel industry?
• What are the challenges to market growth?
• Who are the key vendors in the refractory materials market for GCC steel industry?
• What are the market opportunities and threats faced by the vendors in the refractory materials market for GCC steel industry?
• Trending factors influencing the market shares of KSA, UAE, Qatar.
• What are the key outcomes of the five forces analysis of the refractory materials market for GCC steel industry?

Technavio also offers customization on reports based on specific client requirement.