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[May 2006]
UK Refractory Products - Market Development Report
After researching the UK Refractory Products Market Development and taking into account various other factors, the following major conclusions can be drawn from the latest sector report from Market & Business Development Ltd
(MBD):Market Review 2001-2005
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. Demand for refractory products has increased in nominal terms throughout the five-year review period, although the level of growth has moderated from 8% in 2001 and 2002 to 1% in 2004. In 2005 the market is also believed to have increased by a moderate 1% to £404.3 million, representing growth of 17% compared with 2001.Market Forecast 2006-2010
The UK market for refractory products is expected to increase in real terms during each year of the five-year forecast period. In 2006 and 2007 demand is forecast to increase marginally, partly reflecting economic uncertainties. This is projected to be followed by modest growth of 1% in real terms between 2008 and 2010. Overall, the market is expected to increase by 3% in real terms between 2005 and 2010, taking demand to £417.8 million at 2005 prices in the latter year.The market for refractory products is likely to be influenced by a number of trends, which have already affected the market development. Monolithic products are expected to further gain market share at the expense of the traditional bricks. Furthermore, in terms of volume, the market is expected to continue to decline, as research into raw materials and product design will produce increasingly durable and lightweight refractory products.
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ENDS