Refractory Industry

The refractory industry is a fast-growing sector all over the world. The demand is driven by different types of industrial production, such as glass, metal, and other mineral-based products. The demand for high-quality refractories never ends and the profitability of individual companies depends on efficient operations. According to a research recently published, iron and steel production is responsible for up to 70% of the total demand for refractories. Iron and steel industry, in other words, are of critical importance for the refractory industry. The report foresees that the steel production and other key end-user industries will see a sustainable growth in 2017, which will affect the refractory manufacturers worldwide.

The Future of Refractory Industry

The report claims that the total world production of refractories was 41.5 million tons in 2012. This is equal to 25 billion dollars. The largest manufacturer was China, with production estimated at 29.5 million tons. The second largest producer is the European Union, with estimated production of 4.1 million tons. North America comes as the third biggest manufacturer with 1.4 million tons of refractory production. The report forecasts that world refractory production will rise to 46 million tons by 2017, with a value of 29 billion.

Refractory Manufacturers

It seems that China will continue to be the largest manufacturer in the world, but India will enter the refractory industry too. In fact, it is expected that India will become the second biggest refractory manufacturer in the world, after China. This expectation will, of course, affect the refractory industry in the European Union. However, the general profitability of refractory manufacturers in the European Union will continue, despite their production capacity. This is because of their efficient and high-technology manufacturing methods. The refractory industry will continue to grow and keep offering career opportunities in a competitive sector for everyone.