Global Demand for Refractories in the Nonferrous Metals Market to Increase to 8.1 Million Metric Tons in 2021

Nonferrous metals will see the fastest growth among global refractory markets

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Jul 18, 2018, 10:21 ET

CLEVELAND, July 18, 2018 /PRNewswire/ -- Global demand for refractories in the nonferrous metals market is forecast to rise 4.7% per year to 8.1 million metric tons in 2021, supported by expansions in aluminum and copper production. Aluminum is by far the largest market due to the large volume that is produced as well as its high refractory consumption rate. It is particularly refractory intensive because of highly caustic conditions and the tendency of liquid aluminum to seep into tiny pores of the refractory. These and other trends are presented in Global Refractory Markets, 4th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-refractories-by-region-market-form-and-material-4th-edition-3599.htm

China is the largest market for nonferrous metal refractories, accounting for 49% of demand in 2016. Further expansion of aluminum and copper production will be strongly concentrated in China, and, to a lesser extent, economically developing countries in Asia, Africa, and the Mideast. Western Europe has seen demand decline over the last decade, as several aluminum smelters have closed across the region.

Global demand for refractories is forecast to grow 2.4% per year to 48.5 billion metric tons in 2021, improving on the 2011-2016 performance. Overall market increases will be fueled by an acceleration of iron and steel production in developing economies and improved prospects for growth of heavy industry in developed economies.

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Metals, Minerals, & Glass studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

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SOURCE The Freedonia Group