Published on: May 2022
Impact of COVID-19 on the Refractories Market
Saint-Gobain (France), RHI Magnesita (Austria), Corning Incorporated (US), Morgan Advanced Materials (UK), and Shinagawa Refractories are among the key Tier I and II suppliers in the worldwide Refractories industry (Japan). Manufacturing facilities for these providers can be found throughout Asia Pacific, North America, the Middle East and Africa, Europe, and South America. COVID-19 had an impact on their enterprises. Due to decreasing demand, supply chain constraints, and to protect the safety of their employees in the US, Germany, Italy, France, and Spain during the COVID-19 epidemic, these companies have issued a production halt. As a result, refractory demand is predicted to decrease in 2020. Manufacturers will most likely adapt production to avoid bottlenecks and schedule production based on demand from tier 1 suppliers.
Infrastructural development in emerging countries is a driving force.
Growing urbanization and industrialisation, particularly in emerging economies like India and China, has resulted in enormous investment in residential and commercial construction. According to Oxford Economics and the Global Construction Perspective, the global construction market would increase by 85 percent to USD 15.55 trillion by 2030, with China, India, and the United States accounting for 57% of international growth in the market. China is one of the world's fastest-growing economies, and rising travel demand necessitates continuous development of the country's railways and highways. This has also aided China's car industry's expansion. The increased pace of infrastructure development in these emerging countries has resulted in a surge in residential and commercial building construction, which is likely to enhance refractories demand in the iron and steel and cement industries. In addition, rising construction activity in emerging nations is expected to fuel the glass industry, which would in turn fuel demand for refractories.
Restraint: Due to growing environmental concerns, restrictions on the usage of refractories have been imposed.
Organic particulate matter (PM) and hazardous gasses such as nitrogen oxides (NOx), fluorides, sulfur dioxide (SO2), carbon dioxide (CO2), carbon monoxide (CO), and volatile organic compounds are released throughout the refractory manufacturing process (VOCs). Processes such as breaking, milling, carbonization, and drying release PM, whereas burning and tar & pitch procedures emit gasses and VOCs, respectively.
Chrome-based refractories, which are extensively used in the iron and steel sectors, are supported by refractory waste disposal regulations and standards in the United States. ReStaR (Review and Improvement of Testing Standards for Refractory Products) is a European initiative that aims to ensure that the region's present refractory testing standards are accurate and dependable.
Environmental laws and restrictions on the usage of refractory materials are a stumbling block to the refractories market's expansion.
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