Updated Nov 22, 2022 16:30

Market for Refractory Products of Siliceous or Diatomite Earths in Pakistan

Market Overview
In , the Pakistani market for refractory products of siliceous or diatomite earths was finally on the rise to reach $ for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2019 to , the growth of the market remained at a somewhat lower figure.

In value terms, production of refractory products of siliceous or diatomite earths expanded rapidly to $ in estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by % against the previous year. As a result, production attained the peak level of $. From 2019 to , production of growth remained at a lower figure.


Consumption
In , consumption of refractory products of siliceous or diatomite earths increased by % to tons, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate pronounced growth. As a result, consumption reached the peak volume of tons. From 2019 to , the growth of the consumption of failed to regain momentum.

The size of the market for refractory products of siliceous or diatomite earths in Pakistan expanded slightly to $ in , rising by % 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). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2019 to , the growth of the market remained at a somewhat lower figure.


Market Forecast
Driven by increasing demand for refractory products of siliceous or diatomite earths in Pakistan, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase 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 Pakistan 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. 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
Pakistan 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.