Updated Nov 22, 2022 16:42

Market for Refractory Products of Siliceous or Diatomite Earths in the United Kingdom

Market Overview
The UK market for refractory products of siliceous or diatomite earths skyrocketed to $ in , jumping 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 enjoyed notable growth. Consumption of peaked in and is likely to continue growth in the near future.

In value terms, production of refractory products of siliceous or diatomite earths expanded modestly to $ in estimated in export price. Over the period under review, production, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by % against the previous year. Production of peaked at $ in 2007; however, from 2008 to , production stood at a somewhat lower figure.


Consumption
In , approx. tons of refractory products of siliceous or diatomite earths were consumed in the UK; increasing by % compared with figures. Over the period under review, consumption saw a measured expansion. Over the period under review, consumption of attained the peak volume at tons in 2019; however, from to , consumption remained at a lower figure.

The revenue of the market for refractory products of siliceous or diatomite earths in the UK stood at $ in , remaining constant 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 temperate expansion. Consumption of peaked in and is expected to retain growth in years to come.


Market Forecast
Driven by increasing demand for refractory products of siliceous or diatomite earths in the UK, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, 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
Refractory products of siliceous or diatomite earths market in the UK consists almost entirely of imported products. 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
The UK remains a net importer of refractory products of siliceous or diatomite earths; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.