Market Analysis For Refractory Material In China

Refractory material refers to the inorganic non-metallic materials with refractories of 1,580℃ and above , including natural ore (refractory raw materials) as well as various functional and finished products like sagger, plate, block or crucible that are manufactured according to certain purposes and requirements, according to a certain process process made of a variety of products (refractory products), all of which feature good mechanical properties and volume stability. Refractories are important basic materials for high-temperature industries such as iron and steel, non-ferrous metals, petrochemical, building materials, machinery, electric power, environmental protection and national defense, as well as indispensable supporting materials for various high-temperature industrial thermal kilns, furnace and equipment.

Through years of development, China's refractory industry has basically formed an industrial system from scientific research, design, production to application, which has helped boost China's industry. However, in recent years, due to weak downstream demand, the overall development of the refractory industry has slowed down till 2018. In 2019, China produced 24.308 million tons of refractory products, up 3.7 percent year on year. Among them, dense shaped refractory products reached 13.414 million tons, with a year-on-year increase of 1.1%; thermal insulation refractory products 589,000 tons, up 8.9% year on year and unshaped refractory products 10.305 million tons, up 6.9% year on year. The main reason for the increase is that iron and steel and other major downstream industries are growing, and the market demand for refractory materials is increasing.

In 2019, there are 1,958 enterprises above designated size in the industries of refractory raw materials in China,Its main business revenue was 206.92 billion yuan and its total profit was 12.8 billion yuan.

In 2019, the export trade of refractory raw materials and products was US $3.52 billion, with a total export volume of 5.958 million tons, down 6.3% year on year. Among them, the export of refractory raw materials was 4.292 million tons, down 5.7% year on year.The export volume of refractory products was 1.666 million tons, down 7.7% year on year.