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Refractory Materials Market for GCC Steel Industry by Form Type and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR45682
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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.

What will the Refractory Materials Market For GCC Steel Industry Size be During the Forecast Period?

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Refractory Materials Market For GCC Steel Industry: Key Drivers, Trends, and Challenges

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.

Parent Market Analysis

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.

Who are the Major Refractory Materials Market For GCC Steel Industry Vendors?

The report analyzes the market’s competitive landscape and 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.
  • Vesuvius Plc

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.

Product Insights and News

  • Chosun Refractories ENG Co. Ltd.- The company produce and distribute recovered refractory material used by steel mill and industrial furnace.

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.

Refractory Materials Market For GCC Steel Industry Value Chain Analysis

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:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating Form Type in the Refractory Materials Market For GCC Steel Industry?

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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

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What are the Key Data Covered in this Refractory Materials Market For GCC Steel Industry In Regional Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive refractory materials market for gcc steel industry growth during the next five years
  • Precise estimation of the refractory materials market for gcc steel industry size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the refractory materials market for gcc steel industry industry across Saudi Arabia, UAE, Qatar, Rest of Middle East, Saudi Arabia, UAE, Qatar, and Rest of Middle East
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of refractory materials market for gcc steel industry vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Diversified metals and mining

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 (MT)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Analysis
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Form Type

    • 5.1 Market segments
      • 5.2 Comparison by Form Type
        • 5.3 Bricks - Market size and forecast 2020-2025
          • Exhibit 17: Bricks - Market size and forecast 2020-2025 (MT)
          • Exhibit 18: Bricks - Year-over-year growth 2020-2025 (%)
        • 5.4 Monolithic - Market size and forecast 2020-2025
          • Exhibit 19: Monolithic - Market size and forecast 2020-2025 (MT)
          • Exhibit 20: Monolithic - Year-over-year growth 2020-2025 (%)
        • 5.5 Market opportunity by Form Type
          • Exhibit 21: Market opportunity by Form Type

        6 Market Segmentation by Geography

        • 6.1 Market segments
          • 6.2 Comparison by Geography
            • 6.3 Saudi Arabia - Market size and forecast 2020-2025
              • Exhibit 24: Saudi Arabia - Market size and forecast 2020-2025 (MT)
              • Exhibit 25: Saudi Arabia - Year-over-year growth 2020-2025 (%)
            • 6.4 UAE - Market size and forecast 2020-2025
              • Exhibit 26: UAE - Market size and forecast 2020-2025 (MT)
              • Exhibit 27: UAE - Year-over-year growth 2020-2025 (%)
            • 6.5 Qatar - Market size and forecast 2020-2025
              • Exhibit 28: Qatar - Market size and forecast 2020-2025 (MT)
              • Exhibit 29: Qatar - Year-over-year growth 2020-2025 (%)
            • 6.6 Rest of GCC - Market size and forecast 2020-2025
              • Exhibit 30: Rest of GCC - Market size and forecast 2020-2025 (MT)
              • Exhibit 31: Rest of GCC - Year-over-year growth 2020-2025 (%)
            • 6.7 Market opportunity by Geography
              • Exhibit 32: Market opportunity by Geography

            7 Customer landscape

            • 7.1 Overview
              • Exhibit 33: Customer landscape

            8 Drivers, Challenges, and Trends

            • 8.1 Market drivers
              • 8.2 Market challenges
                • Exhibit 34: Impact of drivers and challenges
              • 8.3 Market trends

                9 Vendor Landscape

                • 9.1 Overview
                  • Exhibit 35: Vendor landscape
                • 9.2 Landscape disruption
                  • Exhibit 36: Landscape disruption
                  • Exhibit 37: Industry risks
                • 9.3 Competitive Scenario

                  10 Vendor Analysis

                  • 10.1 Vendors covered
                    • Exhibit 38: Vendors covered
                  • 10.2 Market positioning of vendors
                    • Exhibit 39: Market positioning of vendors
                  • 10.3 Chosun Refractories ENG Co. Ltd.
                    • Exhibit 40: Chosun Refractories ENG Co. Ltd. - Overview
                    • Exhibit 41: Chosun Refractories ENG Co. Ltd. - Product and service
                    • Exhibit 42: Chosun Refractories ENG Co. Ltd. - Key offerings
                  • 10.4 Compagnie de Saint-Gobain SA
                    • Exhibit 43: Compagnie de Saint-Gobain SA - Overview
                    • Exhibit 44: Compagnie de Saint-Gobain SA - Business segments
                    • Exhibit 45: Compagnie de Saint-Gobain SA - Key news
                    • Exhibit 46: Compagnie de Saint-Gobain SA - Key offerings
                    • Exhibit 47: Compagnie de Saint-Gobain SA - Segment focus
                  • 10.5 Dalmia Bharat Group
                    • Exhibit 48: Dalmia Bharat Group - Overview
                    • Exhibit 49: Dalmia Bharat Group - Product and service
                    • Exhibit 50: Dalmia Bharat Group - Key news
                    • Exhibit 51: Dalmia Bharat Group - Key offerings
                  • 10.6 Imerys SA
                    • Exhibit 52: Imerys SA - Overview
                    • Exhibit 53: Imerys SA - Business segments
                    • Exhibit 54: Imerys SA - Key offerings
                    • Exhibit 55: Imerys SA - Segment focus
                  • 10.7 Krosaki Harima Corp.
                    • Exhibit 56: Krosaki Harima Corp. - Overview
                    • Exhibit 57: Krosaki Harima Corp. - Business segments
                    • Exhibit 58: Krosaki Harima Corp. - Key offerings
                    • Exhibit 59: Krosaki Harima Corp. - Segment focus
                  • 10.8 Refractarios ALFRAN SA
                    • Exhibit 60: Refractarios ALFRAN SA - Overview
                    • Exhibit 61: Refractarios ALFRAN SA - Product and service
                    • Exhibit 62: Refractarios ALFRAN SA - Key offerings
                  • 10.9 RHI Magnesita GmbH
                    • 10.10 Saudi Refractory Industries
                      • Exhibit 68: Saudi Refractory Industries - Overview
                      • Exhibit 69: Saudi Refractory Industries - Product and service
                      • Exhibit 70: Saudi Refractory Industries - Key offerings
                    • 10.11 Shinagawa Refractories Co. Ltd.
                      • Exhibit 71: Shinagawa Refractories Co. Ltd. - Overview
                      • Exhibit 72: Shinagawa Refractories Co. Ltd. - Business segments
                      • Exhibit 73: Shinagawa Refractories Co. Ltd. - Key offerings
                      • Exhibit 74: Shinagawa Refractories Co. Ltd. - Segment focus
                    • 10.12 Vesuvius Plc
                      • Exhibit 75: Vesuvius Plc - Overview
                      • Exhibit 76: Vesuvius Plc - Business segments
                      • Exhibit 77: Vesuvius Plc - Key offerings
                      • Exhibit 78: Vesuvius Plc - Segment focus

                    11 Appendix

                    • 11.1 Scope of the report
                      • 11.2 Currency conversion rates for US$
                        • Exhibit 79: Currency conversion rates for US$
                      • 11.3 Research methodology
                        • Exhibit 80: Research Methodology
                        • Exhibit 81: Validation techniques employed for market sizing
                        • Exhibit 82: Information sources
                      • 11.4 List of abbreviations
                        • Exhibit 83: List of abbreviations

                      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.

                      TechnavioINFORMATION SOURCES

                      Primary sources

                      • Manufacturers and suppliers
                      • Channel partners
                      • Industry experts
                      • Strategic decision makers

                      Secondary sources

                      • Industry journals and periodicals
                      • Government data
                      • Financial reports of key industry players
                      • Historical data
                      • Press releases
                      Technavio

                      TechnavioDATA ANALYSIS

                      Data Synthesis

                      • Collation of data
                      • Estimation of key figures
                      • Analysis of derived insights

                      Data Validation

                      • Triangulation with data models
                      • Reference against proprietary databases
                      • Corroboration with industry experts
                      Technavio

                      TechnavioREPORT WRITING

                      Qualitative

                      • Market drivers
                      • Market challenges
                      • Market trends
                      • Five forces analysis

                      Quantitative

                      • Market size and forecast
                      • Market segmentation
                      • Geographical insights
                      • Competitive landscape
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                      The refractory materials market for gcc steel industry market growth will increase by $37.78 MT during 2022-2025.
                      The refractory materials market for gcc steel industry market is expected to grow at a CAGR of 3.41% during 2022-2025.
                      Technavio has segmented the refractory materials market for gcc steel industry market by other 1 (bricks and monolithic) ,geography (Saudi Arabia, UAE, Qatar, and Rest of GCC) , and geographic (Saudi Arabia, UAE, Qatar, Rest of Middle East, and Saudi Arabia).
                      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., Vesuvius Plc are a few of the key vendors in the refractory materials market for gcc steel industry market.
                      Saudi Arabia will register the highest growth rate of 62% among the other regions. Therefore, the refractory materials market for gcc steel industry market in Saudi Arabia is expected to garner significant business opportunities for the vendors during the forecast period.
                      The key factors driving the refractory materials market for gcc steel industry market growth are:
                      • Increasing demand from construction and infrastructure sector
                      • Rising popularity of monolithic refractories over shaped refractories
                      The refractory materials market for gcc steel industry market vendors should focus on grabbing business opportunities from the bricks segment as it accounted for the largest market share in the base year.
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