How do refractory companies survive under bad economic situation

2022-10-21 15:50:52

Since beginning of 2022, because of pandemic and complicated international situation,economic development is badly influenced. Refractories market is also effected.

Refractory materials are mainly used as linings of high temperature furnaces and kilns in Iron & Steel industry, cement industry, glass industry, ceramic industry, non-ferrous industry, chemical industry, powder station etc., among all the industries, consumption of refractories for Iron & steel industry is the highest, as shown in the picture.


Meanwhile, according to survey, in first half of 2022, producing capacity of iron in China is 0.439 billion tons, 4.7% down compared to last year; Crude steel 0.527 billion tons, 6.5 % down. Producing capacity of cement is also decreasing, the lowest since past 11 years, 15% down. As a result, consumption of refractories for Iron & Steel,, cement industry decrease about 0.5 million tons.  Under this situation, producing capacity of refractory materials decrease about 0.62 million tons in the first half of 2022, surviving becomes difficult for some small plants.

While for some steel plants with obvious advantages, they are moving forward more quickly. For example, Yongxing special steel company, which is leader of special steel wire in domestic, the net profit for first nine months is 4.2-4.4 billion CNY (0.6 -0.63 billion dollars ), with 660%-700% growth year-on-year.

It’s the same to refractory field. Based on the report,exporting capacity of refractory materials in the first half year increase 0.22 million tons. Business transformation is slowly happening. Enterprises with more advantages, advanced technology, professional skill, larger capacity are developing better. 

Long Keter keeps aim  “ make energy efficiency simpler” in mind, is dedicated to solutions for thermal equipment. Under the sluggish economic environment, Long Keter is bucking the trends with more and more support from long business relationship clients and new clients. 

With professional technical supporting team, advanced managing system, excellent quality and on-time after-sales service as core competitiveness, Long Keter is improving position in the refractory market.