(PRWEB UK) 25 December 2012
According to the report Refractories: US industry forecasts for 2016 & 2021, US demand for refractories is projected to grow 3.7 percent per year to $2.6 billion in 2016. Output of steel in the US is expected to reverse its decline, driving up demand for refractory products. Gains will also result as nonresidential fixed investment spending returns to strong growth through 2016, prompting a resurgence in the production of a number of goods such as cement and glass. The market for refractories as measured in tons will increase 1.4 percent per annum to 2.3 million tons in 2016, still short of 2006 levels.
In 2011, sales of refractories to iron and steel manufacturers made up 45% of total refractory sales. After the steep decline in steel output during the recent recession, steel manufacturing in the US is expected to rebound. The expected resurgence in US manufacturing output through 2016 will aid in driving sales of refractories; however, trends in refractory technology toward long lasting, durable refractories that resist corrosion, spalling, and mechanical stresses will limit gains in demand going forward by lengthening replacement intervals. Nevertheless, high-performance refractories can command premium prices, aiding value gains in the market. Most materials manufacturing industries have reduced their per-production-unit consumption of refractories by using these new products and utilizing improved industrial processes.
View the report