Enjoy complimentary customisation on priority with our Enterprise License!
The refractory materials market for gcc steel industry share is expected to increase by 37.78 MT from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.41%.
This refractory materials market for gcc steel industry research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers refractory materials market for gcc steel industry segmentations by form type (bricks and monolithic) and geography (Saudi Arabia, UAE, Qatar, and Rest of GCC). The refractory materials market for gcc steel industry report also offers information on several market vendors, including Chosun Refractories ENG Co. Ltd., Compagnie de Saint-Gobain SA, Dalmia Bharat Group, Imerys SA, Krosaki Harima Corp., Refractarios ALFRAN SA, RHI Magnesita GmbH, Saudi Refractory Industries, Shinagawa Refractories Co. Ltd., and Vesuvius Plc among others.
Download the Free Report Sample to Unlock the Refractory Materials Market for GCC Steel Industry Size for the Forecast Period and Other Important Statistics
The increasing demand from construction and infrastructure sector is notably driving the refractory materials market for gcc steel industry growth, although factors such as fluctuating cost of refractory materials and high energy consumption may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the refractory materials market for gcc steel industry industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Refractory Materials Market For GCC Steel Industry Driver
The increasing demand from construction and infrastructure sector is a major factor driving the global refractory materials market for GCC steel industry market share growth. This rising demand for steel is mainly driven by the developmental activities taking place in the construction and infrastructural sectors. The construction sector boom led by the petrodollars and the diversification of oil-based companies has turned GCC into a favored business spot for many international investors. The consumption of steel has increased significantly by the demand from these sectors. Over the last few years, steel consumption in Saudi Arabia has increased substantially, leveraged by a construction boom, increasing investment in the real estate sector, and rapid development activities in the infrastructure sector. The construction and infrastructure sector in GCC is becoming more stable, and the multi-billion-dollar projects focusing on infrastructural development are triggering the rising demand for steel. The mounting domestic demand for steel in this region, along with favorable government interventions on the import policies of steel, would considerably increase the demand for refractory materials.
Key Refractory Materials Market For GCC Steel Industry Trend
The rising popularity of monolithic refractories over shaped refractories is another factor supporting the global refractory materials market for GCC steel industry market share growth. Monolithic refractories, being distinct mixes or blends of dry granular or cohesive plastic materials with indefinite form, are likely to experience increased demand over shaped refractories at a rapid growth rate during the upcoming years. These refractories are likely to witness a surge in demand from almost every application, including the steel industry. They are used to make virtually joint-free linings and attain shape upon application. They are applied as some form of suspension that eventually hardens to form a hard mass. Most monolithic preparations comprise large refractory particulates, fine filler constituents, and a binder phase. With less preparation, monolithic refractories can be used to form monolithic or joint-free furnace linings in new constructions or to restore existing refractory lining. Their transportation and handling are simple. This provides significant scope to decrease inventory and remove special shapes. They have the capability to be installed in high-temperature standby mode. They are replacing the traditionally shaped refractories at a much quicker rate in several applications. Therefore, the market will grow significantly during the forecast period.
Key Refractory Materials Market For GCC Steel Industry Challenge
The fluctuating cost of refractory materials and high energy consumption will be a major challenge for the global refractory materials market for GCC steel industry market share growth during the forecast period. There has been high volatility in the price of refractory materials in the previous few years. The cost of refractory materials is a determining factor of their end uses. This is mainly due to the slowdown of economic conditions. Another reason for the fluctuation is China's export policies. China, being a major raw material supplier, has imposed heavy taxes on the export of magnesite, high-grade aluminum, and bauxite. Refractory products are energy-intensive resources. Most refractory raw materials must undergo more than one energy-intensive firing procedure to accomplish the expected results. Apart from typical sorting, grinding, and milling, a last sintering firing step is generally required for fired bricks. The amount of energy essential for their manufacturing and the size of materials used up and sent for dumping are significant indicators of sustainability. These have a large impact on both manufacturers and consumers, therefore it hampers the growth of the market.
This refractory materials market for gcc steel industry analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the refractory materials market for GCC steel industry as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the refractory materials market for gcc steel industry during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the refractory materials market for gcc steel industry encompasses successful business strategies deployed by the key vendors. The refractory materials market for gcc steel industry is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The refractory materials market for gcc steel industry forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the refractory materials market for gcc steel industry, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global diversified metals and mining market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
To gain further insights on the market contribution of various segments Request for a FREE sample
The refractory materials market for gcc steel industry share growth by the bricks segment will be significant during the forecast period. The steel industry in GCC countries witnessed supply chain disruptions due to border closures following the outbreak of the COVID-19 pandemic in 2020. Some companies operating in the steel industry also temporarily shut down their operations. Hence, these are some of the factors that negatively affected the demand for refractory bricks in GCC steel industry during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the refractory materials market for gcc steel industry size and actionable market insights on post COVID-19 impact on each segment.
|
Refractory Materials Market For GCC Steel Industry Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 3.41% |
|
Market growth 2021-2025 |
37.78 MT |
|
Market structure |
Fragmented |
|
YoY growth (%) |
2.72 |
|
Regional analysis |
Saudi Arabia, UAE, Qatar, Rest of Middle East, Saudi Arabia, UAE, Qatar, and Rest of Middle East |
|
Performing market contribution |
Saudi Arabia at 62% |
|
Key consumer countries |
Saudi Arabia, UAE, Qatar, and Rest of Middle East |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Chosun Refractories ENG Co. Ltd., Compagnie de Saint-Gobain SA, Dalmia Bharat Group, Imerys SA, Krosaki Harima Corp., Refractarios ALFRAN SA, RHI Magnesita GmbH, Saudi Refractory Industries, Shinagawa Refractories Co. Ltd., and Vesuvius Plc |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Form Type
6 Market Segmentation by Geography
7 Customer landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
