Rebounding Steel Demand to Drive Refractories Market in Spain
Monolithics are expected to see the largest gains among refractory forms, at 1.9% annually through 2021.
Refractories demand in Spain is forecast to rise 1% per year to 232,000 mt in 2021, according to a recent report from The Freedonia Group. Growth will be supported by a rebound in steel and cement production, as well as gradual increases in the production of copper and iron.
Monolithics are expected to see the largest gains among refractory forms, at 1.9% annually through 2021. In addition to their versatility and ease of installation, monolithics are also joint free, enhancing their performance and durability. Monolithics and other forms, such as ceramic fibers, will account for 53% of all refractories demand in Spain in 2021.
Iron and steel demand will rebound through 2021. While demand in this market will be below historical highs, Spain will outperform many of its regional peers and Western Europe as a whole.
For more information, visit www.freedoniagroup.com.