Saudi Arabia Refractories Market Analysis Report by Form (Shaped refractories & Unshaped Refractories), By Alkalinity (Acidic & Neutral Refractories and Basic Refractories), By End-Use Industry (Iron & Steel, Power Generation, Non-Ferrous Metal, Cement, Glass and Other Industries) – Opportunities & Forecast, 2020-2027
Published Date: Apr - 2021 | Report Format: Excel/PPT | Report Code: UP1808-001001
Introduction of the Saudi Arabia Refractories Industry Report
Refractory is defined as a material that is resistant to decomposition by heat, pressure, or chemical attack and has a high level of strength and forms even at high-temperature range. They are inorganic and non-metallic, porous, and heterogeneous. There are various types of refractory bricks in numerous sizes and shapes that are available for different applications.
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Market Dynamic
Key Drivers and Emerging Trends
The refractory market in Saudi Arabia is witnessing an upsurge in demand during the forecast period. This is mainly due to the accelerating demand for refractories, especially among the iron & steel sector. The refractory material is mainly used in the internal lining of furnaces for the manufacturing of steel as well as iron in the vessel for holding and transportation of metal and slag. As per the World Steel Association, Saudi Arabia is among the top world’s leading 20 steel producers with the production of 8.2 million tonnes in 2019 as well as in 2018.
The construction sector in the country is booming with the launch of new government initiatives. The government has introduced the “Saudi Vision 2030,” which includes a strategic framework to decrease the country’s dependence on oil, diversify its economy, and for the development of public service sectors such as health, education, infrastructure, recreation, and tourism. Qiddiya, NEOM, Red Sea Project, Jabal Omar, and various other projects are indirectly impacting the growth of the market. In addition to this, the strong demand for construction services has surged the demand for cement and other building material. To meet the accelerating demand, the Ministry of Commerce and Industry reports SAR 3 billion in capitalization for the development of four cement plants over the next few years. Thus, the rising pace of infrastructural development in the country has surged the construction of the residential and commercial buildings, which in turn, is driving the demand for refractories, particularly in the iron & steel cement industries.
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End-Use Industry – Segment Analysis
On the basis of end-use industry, the iron & steel segment is anticipated to grow at a faster CAGR over the forecast period. The growing emphasis on infrastructural development due to the launch of various projects such as The Qiddiya project, King Abdullah Economic City, and other projects is one of the major factors that is responsible for the growth of the segment in the market. In addition to this, the increasing demand for high-cost and high-performance refractories owing to the growing focus on increasing the quality of life and environment is another factor that is contributing to the segment growth.
Form – Segment Analysis
Based on the form, the shaped refractories segment is expected to witness a higher CAGR during the forecast period. The increasing usage of shaped refractories, particularly for the formation of floor tiles, walls, and arches, is a key driver that is propelling the market growth. The shape of refractories is dependent on the structure and size of furnaces or other services where they will be used.
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Segments covered in the Report:
The Saudi Arabia refractories market has been segmented based on form, alkalinity, end-use industry. Based on Form, the market is segmented into shaped refractories & unshaped refractories. Based on alkalinity, the market is segmented into acidic & neutral refractories and basic refractories. Based on end-use Industry, the market is segmented into iron & steel, power generation, non-ferrous metal, cement, glass, other industries.
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Key questions answered in this research report:
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- At what pace is Saudi Arabia refractories market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Saudi Arabia refractories market? What will be the impact of drivers and restraints in the future?
- Which form generated maximum revenues in 2019 and identify the most promising form during the forecast period?
- What are the various alkalinity areas of Saudi Arabia refractories market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage | Details |
Market Base Year | 2019 |
Market Forecast Period | 2020-2027 |
Market Revenues Currency | USD Million |
Base Year & Forecast Units | Revenues (USD Million) |
Market Segment | By Form, By Alkalinity, By End-Use Industry |
Regional Coverage | Saudi Arabia |
Companies Profiled | Profiles of Top 10 Major Companies Operating in “Saudi Arabia Refractories Market” |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Saudi Arabia Refractories Market by Form
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- Shaped Refractories
- Unshaped Refractories
Saudi Arabia Refractories Market by Alkalinity
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- Acidic & Neutral Refractories
- Basic Refractories
Saudi Arabia Refractories Market by End-Use Industry
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- Iron & Steel
- Power Generation
- Non-Ferrous Metal
- Cement
- Glass
- Other Industries
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The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
Saudi Arabia Refractories Market Analysis Report by Form (Shaped refractories & Unshaped Refractories), By Alkalinity (Acidic & Neutral Refractories and Basic Refractories), By End-Use Industry (Iron & Steel, Power Generation, Non-Ferrous Metal, Cement, Glass and Other Industries) – Opportunities & Forecast, 2020-2027
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