Latest News- Refractory Materials Market For Steel Industry in GCC: Bricks is expected to lead the Product segment during 2025-2029

The Refractory Materials Market For Steel Industry in GCC is being driven by Mounting demand for refractory materials from construction and infrastructure sector

The Refractory Materials Market For Steel Industry in GCC is expected to grow at a CAGR of 3.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 30.2 million. Monolithic refractories, characterized by their distinct, malleable nature as mixtures or blends of dry granular or cohesive plastic materials, are poised for significant growth in the GCC steel industry. These refractories, which form indefinite shapes upon application, offer numerous advantages over traditional shaped refractories. Their ability to create virtually joint-free linings makes them highly desirable for various applications within the steel sector. Monolithic refractories are applied as suspensions that harden to form a solid mass, typically consisting of large refractory particulates, fine filler constituents, and a binder phase. Available in various forms such as castables, plastics, gunning mixes, mortars, and ramming mixes, these refractories are expected to witness a surge in demand due to their superior performance and adaptability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Bricks
  • Monolithic
• Type
  • Acidic and neutral
  • Basic
• Geography
  • GCC
    • United Arab Emirates
    • Saudi Arabia
    • Kuwait
    • Qatar

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Mounting demand for refractory materials from construction and infrastructure sector
• Increasing capacity of steel production
• Increasing research and development activities by vendors

However, the market also witnesses some limitations, which are as follows:

• Fluctuating cost of refractory materials and high energy consumption
• Static market conditions
• Concerns pertaining to environment and recyclability

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Market Scope in Refractory Materials Market For Steel Industry in GCC Research Report

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Research Analysis Overview

The Refractory Materials Market in the GCC steel industry focuses on enhancing industrial processes through life cycle analysis, maintenance optimization, and performance optimization. Industrial automation, waste management, and sustainable manufacturing are key areas of interest. High-temperature applications require heat resistant materials, insulation materials, and refractory lining design for fireproofing and safety. Material science plays a crucial role in material selection for corrosion protection, thermal abrasion resistance, and resource recovery. Digital transformation, Industry 4.0, and green technology are driving the market towards energy efficiency, circular economy, and industrial safety. Safety regulations govern the use of refractory materials in industries like ceramics, glass, construction, and metal processing. Renewable energy and industrial insulation are also significant applications. The market caters to various sectors, including industrial manufacturing, building materials, and the mineral resources industry, with a focus on environmental impact and industrial safety.

Market Research Overview

The Refractory Materials Market for the Steel Industry in the GCC region is a significant segment of the broader steel market. This market caters to the demand for refractory materials from various industries such as mechanical abrasion, chemical corrosion, pulp & paper, petrochemicals, and transportation infrastructure. The parent market, which includes steel production, is a key driver for the refractory materials market. According to Technavio, the global Metals and Mining Market, which encompasses aluminum, copper, gold, silver, steel, diversified metals and mining, and precious metals and minerals, is experiencing growth due to the increasing demand for steel. This expansion is fueled by stimulus measures aimed at boosting construction activity in China and other emerging economies. The global steel market, comprised of iron and steel producers and related products, including metallurgical coal mining, is a major contributor to this trend.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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