The forecast for the import of refractory cements, mortars, and concretes, excluding graphite, to India indicates a consistent upward trend from 2024 to 2028. The anticipated yearly value increases from $167.64 million in 2024 to $190.33 million in 2028. In 2023, imports stood at approximately $162 million, providing a baseline for evaluating growth. The year-on-year percentage growth from 2024 onwards averages about 3.1%. Furthermore, the compound annual growth rate (CAGR) from 2024 to 2028 is projected to be around 3.2%.
Future trends to watch include:
- The impact of global economic shifts on the raw materials crucial for refractory products.
- India's industrial growth rate influencing demand for these imports.
- Technological advancements in refractory materials potentially altering import dynamics.
