HOW INDIA IS BECOMING A MAJOR SOURCE OF REFRACTORY MATERIALS?

HOW INDIA IS BECOMING A MAJOR SOURCE OF REFRACTORY MATERIALS?

Good news for all refractory manufacturers in India! According to the most exclusive global refractories market research studies, India has become a major supplier and manufacturer of refractory materials. In order to help you understand the refractory materials market better; here’s a quintessential guide, which includes how bright is the future for refractory manufacturers in India and how India is emerging as a region to flourish in the refractory materials market. Past, present, and future are all covered!

FLASHBACK OF REFRACTORY INDUSTRY IN INDIA:

Years back if we go through the refractory materials market, the refractory industry was not evolved as it is now. India’s Cement and Steel industries have relied heavily on imported refractories, primarily from China, treating it as a commodity.

Due to the lack of knowledge, refractory products are utilized in limited stages. In addition, refractory manufacturers in India mostly import refractory materials like fire bricks, refractory cement, and other types of refractory bricks from China.

Furthermore, China produces 65% of the world’s refractory and is fortunate to have access to the key raw materials needed to do so. This gives China a significant financial and strategic advantage. India, on the other hand, developed into a fragmented refractory industry that offered inexpensive refractory materials but was unable to rival China.

However, providing low-end refractory materials comes with its own challenges. It wasn’t easy for us. This so-called business strategy cost us more than we expected in the long term. This was realized by stakeholders after years concerned that the refractory industry has come to end for refractory manufacturers of India.

PRESENT VIEW ON THE REFRACTORY INDUSTRY OF INDIA:

In spite of losing hope in the refractory material market, meanwhile facing covid pandemic which imbalanced economic levels of not just a global refractory market but for all manufacturers to suppliers to retailers everyone was disrupted by this economic tsunami.

Fortunately, hope rises again when government’s initiative of the “Aatmanirbhar Bharat” trend brims up. At first, it was shocking for us but then everyone realizes that they don’t need anyone’s support if they want they can do it by themself. We unveil our capabilities as a refractory material manufacturer, and this was an impressive comeback in the refractory industry.

Additionally, companies around the world that have built their supply chains around China are now de-risking China. Following Covid, this trend has greatly speeded up.

Due to this, most countries are now actively seeking alternative suppliers to reduce their heavy reliance on China.

This has created a significant opportunity for India to step in. The Indian refractory industry now must cater, not only to the increased internal demand but also around the world. Nowadays, the refractory industry of India has evolved dramatically in the global refractory market and is remarkable as the major source of refractory materials all over the globe.

FUTURE SCENARIO OF EVOLVING REFRACTORY INDUSTRY IN INDIA: As this trend continues, the refractory materials market is on an upward curve. The Indian refractory industry is doing well at the moment because of both domestic, as well as global factors. However, currently, we are manufacturing refractories with imported raw materials. As the industry grows and stabilizes, we will see a shift from global raw materials to Indian raw material.

However, it’s not that easy for refractory materials manufacturers. In order for the Indian refractory industry to maintain a strategic and cost-based advantage, it must invest in world-class R&D and capacity building.

When these obstacles are overcome and our capabilities and quality are improved, India can undoubtedly rank among the world’s top producers of refractory materials and replace China as a top contender.

BOTTOM LINE: Do you want to import high-quality, low-cost refractory materials from India? Ganeshas is one the leading refractory materials manufacturers materials manufacturers; committed to offering “made in India refractory products” ideal for various industries like refineries, thermal power plants, pharmaceutical plants, and other various industries.

Get in touch with us for more details!