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[August 2001]
New Report Looks at UK Refractory Products Market
Market & Business Development (MBD) has just published its new edition of the 'UK Refractory Products Market Development Report'. The following conclusions are drawn from the report:
Market Review 1996-2000
During the review period, the UK market for refractory products fluctuated. The importance of the steel sector to suppliers of refractory products in the UK tends to expose the market to significant economic fluctuations. The market also largely reflects levels of capital expenditure in sectors such as steel, cement, glass and petrochemicals and this, in turn, is influenced by economic conditions. Thus, the slowing down of the UK economy resulted in a decline for refractory products and a 4% decline took the market to 320.6 million at Manufacturers Selling Price (MSP) in 1996.
In 1997, the market remained relatively static at 320.7 million at MSP, reflecting a number of factors. Although economic conditions remained difficult during much of 1998, the value of the market was increased by an estimated 4% in nominal terms to 332.8 million at MSP.
Market Forecast 2001-2005
MBD believes that there is likely to be far less significant fluctuations by the iron and steel industry in the medium term, but that declines in investment are inevitable.
Process plant investment reductions can be expected to be stronger than the overall reductions in capital expenditure and investment is expected to fall by 25% between 2001 and 2005....
The market for refractory products is forecast to increase by a moderate 2% within the review period. For 2001, MBD estimates that sales will increase by 2% to 327.8 million. In 2002 and 2003, relatively static growth is anticipated, taking the market to 329.7 million in the latter year. Furthermore, marginal growth of 1% is forecast for 2004, taking the market to 331.5 million prior to a negligible increase in 2005.....
The market is likely to be influenced by a number of trends which have already had their impact. Monolithic products are expected to gain market share at the expense of traditional bricks. In terms of volume, the market is expected to decline as research into raw materials and product design will produce increasingly durable and lightweight refractory products......
The value of imports is expected to fluctuate in real terms throughout the period but overall remaining relatively unchanged at between 20% and 21% reflecting the continued strong presence of UK manufacturers in most sectors of the market.
This report is available at a cost of £395.
http://www.mdbltd.co.uk
ENDS