GCC Steel Industry Refractory Materials Market 2021-2025: Chosun Refractories ENG Co. Ltd., Compagnie de Saint-Gobain SA, are Among the Major Vendors

The refractory materials market share for the GCC steel industry is expected to increase by 37.78 MT, accelerating at a CAGR of 3.41% during the forecast period. The increasing demand from the construction and infrastructure sector is the major driver which offers immense growth opportunities to market vendors.

Technavio's research report provides a detailed understanding of the market focusing on the latest trends, and drivers that are likely to impact growth. This analysis will enable business leaders to strategize and plan for the further growth of their business. Unlock Free Sample Analysis Report

Refractory Materials Market For GCC Steel Industry: Market Segments and Key Trends

The refractory materials market for the GCC steel industry is segmented by form type (bricks and monolithic) and geography (Saudi Arabia, UAE, Qatar, and the Rest of GCC). The rising popularity of monolithic refractories over shaped refractories is the major refractory materials market trend that will positively influence the market growth. However, the fluctuating cost of refractory materials and high energy consumption will be a major challenge for the market vendors.

62% growth will originate from Saudi Arabia. The refractory materials market growth for the GCC steel industry by the bricks segment will be significant during the forecast period. The outbreak of COVID-19 has negatively affected the demand for refractory bricks in the GCC steel industry during the forecast period.

The research report provides market share projections of each segment along with a detailed analysis of all the factors that are likely to boost growth within specific regions as well as global markets.

Refractory Materials Market For GCC Steel Industry: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.

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 are some of the major refractory materials market vendors for the GCC steel industry.

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Refractory Materials Market For GCC Steel Industry: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive the refractory materials market for GCC steel industry growth during the next five years
• Precise estimation of the refractory materials market size for GCC steel industry 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 the GCC steel industry industry across Saudi Arabia, UAE, Qatar, and the Rest of the GCC
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the refractory materials market vendors for the GCC steel industry

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 3.41%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 37.78 MT.
    
3. What is a key factor driving this market?
   Mounting demand from the construction and infrastructure sector will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   Saudi Arabia, UAE, Qatar, and the Rest of GCC are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   62% growth will originate from Saudi Arabia.
    
6. Who are the leading market vendors?
   The leading vendors in this market are 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
    
7. What are the market segments covered in this report?
   The market is segmented by Geography (Saudi Arabia, UAE, Qatar, and Rest of GCC) and Type (Bricks and Monolithic).