The Saudi Arabia refractories market size was valued at USD 160.2 million in 2021. The market is expected to grow from USD 164.8 million in 2022 to USD 254.6 million by 2029, exhibiting a CAGR of 6.4% during 2022-2029. Increasing demand for steel glass from the construction sector and rapidly developing steel manufacturing sector are expected to enhance the market’s progress. Fortune Business Insights™ mentions this information in its report.

Source: https://www.fortunebusinessinsights.com/saudi-arabia-refractories-market-106924

COVID-19 Impact:

Reduced Production Activities in the End-use Sectors Hampered Market Growth During the Pandemic

This market was negatively affected during the COVID-19 pandemic due to the closure of manufacturing in the end-use sector. The sudden spike in COVID-19 cases provoked governments to impose stringent restrictions on manufacturing, travel, and transport. This factor affected refractory metal sales severely. Manufacturing restraints reduced the supply chain, declined sales, and lack of product availability. Furthermore, transport and travel restrictions disrupted raw material availability. However, the post-COVID-19 phase enabled manufacturers to recover costs and elevate sales. These factors may boost the refractories industry growth after the pandemic.