• / Free eNewsletters & Magazine
  • / My Account
Home>Top 5 Vendors in the Refractory Materials Market for GCC Steel Industry From 2017 to 2021 | Technavio

Top 5 Vendors in the Refractory Materials Market for GCC Steel Industry From 2017 to 2021 | Technavio

Top 5 Vendors in the Refractory Materials Market for GCC Steel Industry From 2017 to 2021 | Technavio

10/04/2017

Top 5 Vendors in the Refractory Materials Market for GCC Steel Industry From 2017 to 2021 | Technavio

Technavio has announced the top five leading vendors in their recent global refractory materials market for GCC steel industry report. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171004006114/en/

Technavio has published a new report on the refractory materials market for GCC steel industry from ...

Technavio has published a new report on the refractory materials market for GCC steel industry from 2017-2021. (Graphic: Business Wire)

Refractory materials are extensively used in steel industries for different applications such as furnaces to withstand the high thermal shocks and harsh chemical reactions. The steel industry is the largest end user of refractory materials as it has a wide range of application where it requires high thermal resistant construction materials. The global refractory market is reliant on steel production and consumption across the globe.

Competitive vendor landscape

The refractory materials market in GCC mainly relies on imports rather than production. Only a few local vendors are involved in the production of refractories in GCC. The main countries from which refractories are imported include China, India, Germany, Netherlands, Japan, the US, and Netherlands. The steel industry is observed to exhibit a remarkable growth, and the demand is projected to hit new records.

“The GCC countries are focused on reducing the imports by promoting the local steel production, which would also promote the regional production of refractories. In that scenario, there will be a high rate of entry of players into the market. This is likely to enhance the competitive intensity between players in this region and the global players which export their products to this region,” says Soumya Mutsuddi, a lead metals and minerals research analyst from Technavio.

©2017 Morningstar Advisor. All right reserved.