US Refractories Demand to Exceed USD 3 Billion in 2019
This will represent a deceleration from robust 2009–2014 gains, as iron and steel production in the US slows. Sales will also be limited by moderating output in a number of other durable goods manufacturing industries, many of which utilize refractories to at least some extent. Furthermore, a shift in demand toward better performing refractories, while providing an initial boost to sales due to their premium prices, will cause market growth to slow in the long run as replacement cycles are lengthened. On the positive side, continued increases in the price of raw refractory materials will support value gains. Additionally, the nonmetallic minerals industry segment, which is expected to record the fastest market advances, utilizes some of the highest cost refractories, boosting overall dollar growth. These and other trends are presented in Refractories, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.