Updated Nov 22, 2022 16:05

Market for Refractory Products of Siliceous or Diatomite Earths in Bangladesh

Market Overview
In , the Bangladeshi market for refractory products of siliceous or diatomite earths decreased by -% to $, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a slight descent. Over the period under review, the market reached the maximum level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.

In value terms, production of refractory products of siliceous or diatomite earths stood at $ in estimated in export price. Over the period under review, production, however, showed a mild reduction. The pace of growth appeared the most rapid in 2018 when the production volume increased by %. Production of peaked at $ in 2007; however, from 2008 to , production failed to regain momentum.


Consumption
In , consumption of refractory products of siliceous or diatomite earths decreased by -% to tons, falling for the third year in a row after two years of growth. Over the period under review, consumption recorded a slight downturn. Consumption of peaked at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

The size of the market for refractory products of siliceous or diatomite earths in Bangladesh shrank to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a perceptible setback. Consumption of peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for refractory products of siliceous or diatomite earths in Bangladesh, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of refractory products of siliceous or diatomite earths in Bangladesh were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for refractory products of siliceous or diatomite earths. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. The growth in the share of Bangladesh imports of in the refractory products of siliceous or diatomite earths market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Bangladesh remains a net exporter of refractory products of siliceous or diatomite earths; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.