Indian Refractories Growth Forecast

While most of the world's refractories industry suffered under the global downturn, India remained relatively resilient and its steel market (the biggest refractory user), is expected to grow by around 12% in 2010. India, with China, was among the emerging economies which started to improve in Q4 2009. Over 80% of new refractory demand in 2012 is expected to be attributable to China - Asia continuing to be the fastest growth region in the world within the next two years. This article takes an in-depth look at the market.