Abstract
Worldwide demand to rise 4% annually through 2012
World demand for refractories is forecast to rise four percent (including
price increases) through 2012 to $30 billion. Growth will be supported by the
increasing use of better performing, more expensive refractories, which will
bolster demand in value terms. Advances will be dampened, however, by slowing
steel production growth.
The Asia/Pacific region is the leading consumer of refractories, and will also
be the fastest-growing region in the world through 2012. While China will
account for much of the region' s gains, India will also exhibit advances above
the world average as well. Eastern Europe will also present opportunities, as
steel manufacture increases to keep pace with the region' s industrialization.
Demand in production of nonmetallic mineral products, other metals to rise
Iron and steel production is by far the largest market for refractories.
Advances in this category have benefitted from increased iron and steel
production in recent years compared to the late 1990s. However, the rate of
refractory usage per ton of steel has continued to decline, dampening gains.
This trend is expected to level off somewhat through 2012, improving the
outlook for refractory suppliers.
Refractory demand in the production of other metals will rise, benefitting
from increased output of products like aluminum. Gains are also expected in
the nonmetallic mineral products market, spurred by growth in the production
of ceramics, cement and other mineral products, fueling demand for associated
refractories.
Monolithic form demand to outpace bricks and shapes
Among refractory forms, demand for bricks and shapes is expected to lag those
for monolithics and other. Monolithics are projected to grow at an
above-average pace, as the use of these products provides an economic
advantage by extending the time-span between brick relinings. Clay
refractories are expected to outperform nonclay refractories through 2012,
benefiting from the increasing use of higher-value materials such as
high-alumina based on their performance attributes.
Study coverage
This new Freedonia industry study, World Refractories, presents historical
demand data (1997, 2002 and 2007) plus forecasts for 2012 and 2017 by form,
material and market, as well as supply and demand data in six regions and 23
countries. The study also assesses key market environment factors, evaluates
company market share data and profiles 37 global industry competitors.
Freedonia' s methods involve:
- Establishing consistent economic and market forecasts
- Using input/output ratios, flow charts and other economic methods to
quantify data
- Employing in-house analysts who meet stringent quality standards
- Interviewing key industry participants, experts and end users
- Researching a proprietary database that includes trade publications,
government reports and corporate literature
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