China Ferritic Refractory Materials Industry
China is one of the largest producers of ferritic refractory materials in the world. The ferritic refractory materials industry of China is a mature and highly specialized industry with a high degree of integration with the global economy. The industry has grown at a compound annual rate of 7.4% over the past five years and has been a major contributor to the export strength of the country.
The majority of ferritic refractory materials production in China takes place in coastal areas as landlocked regions do not have access to necessary raw materials. Producers mainly take advantage of the strong logistical networks established in the coastal areas as this allows for easier shipments of finished products. The majority of the production is concentrated in regions near the eastern coast of China, such as the provinces of Zhejiang, Fujian, Guangdong and Jiangsu. In addition, there are also ferritic refractory materials production facilities located in the northern Chinese provinces of Liaoning, Heilongjiang, Jilin and Inner Mongolia.
Most ferritic refractory materials produced in China are used domestically. This is mainly due to the fast increase in the steel, constructional and other energy-related sectors in the country. Steel represents the largest end-use for ferritic refractory materials in China, with the automotive and energy sectors being other important markets. The main products used for steel applications are alumina, magnesia and silica-based refractory bricks, monoliths and specialty mortars.
The Chinese ferritic refractory materials sector is highly competitive and exports of these products have been increasing rapidly in recent years. However, the majority of these exports are shipped to countries in the Asian region and the increasing demand from these countries is driving the Chinese ferritic refractory materials industry to become more competitive in terms of quality and price. The Chinese government is also encouraging the industry to become more innovative in order to produce higher quality and cost-effective products.
In general, the Chinese ferritic refractory materials industry is highly competitive and is likely to remain so in the near future. Companies are looking to reduce costs and improve product quality in order to become more competitive in the global market. The industry is also looking to invest in new technologies and processes in order to increase efficiency and reduce environmental impact. The industry is also investing in research to develop new products and services that will make it more competitive. As a result, the industry is expected to continue to grow at a healthy rate in the near future.
