With a projected CAGR of 4.5 percent over the forecast period of 2022-2029, the global refractories industry is anticipated to grow from $33.01 billion in 2022 to $44.82 billion by 2029. One of the key factors boosting the refractories sector is the increasing demand for high-grade refractories from the iron and steel sectors.
The COVID-19 pandemic had a temporary negative influence on the Indian refractory market, but things turned around and demand rose as a result of rising end-user industry demand for products like iron and steel, cement, chemicals, ceramics, and more. One of the top companies in the industry for refractory products and services is Vaibhav Refractories. The business has a state-of-the-art laboratory with specialists for continuously updating the company's product line, enabling Vaibhav to stay on the cutting edge of technological developments and be ready to meet changing consumer demands.
Offering a Range of Services
Since its inception in 2012, Vaibhav Refractories has experienced constant development and expansion. In the beginning, the company exclusively supplied products to Indian customers, however, since 2017, Vaibhav increased company operations to pursue foreign markets. The company is currently operating at 70 percent of its capacity and actively serving nations such as Sri Lanka, Saudi Arabia, Senegal, Ethiopia, Kenya, Egypt, and more.
Following the motto ‘High Quality at Low Cost’, Vaibhav Refractories is recognized as a business, offering goods of equivalent quality to those produced by high-end refractory manufacturing companies, but at a significantly lower price. Acidic, basic, and neutral ramming mass, castable mortars, concast refractories, and alumina-based refractory bricks are some of the key products that the company offers.“Our products are dedicated to providing our customers with the highest quality & effectiveness at a lower cost. We interact and try to understand our customers’ requirements to provide them with the most suitable products and services. We believe in working as a team with our customers and aiming for continuous improvement together”, shares Vaibhav Dhupar, Managing Director, Vaibhav Refractories.
To ensure high-quality products, Vaibhav Refractories utilizes high-quality raw materials, sourced directly from the earth. The firm intends to always promote and preserve nature, which leads the team to carefully source the raw materials, recycle, and replace major virgin raw materials with Grog (used refractories) such as Mag Spinel, Mag Carbon, High Alumina Bricks, Sintered Alumina, Slide Gate Plates, Nozzles, and others. This not only results in energy saving and controlling pollution, but it also offers Vaibhav Refractories’ customers economical pricing and high savings. It justifies the firm’s vision of ‘A complete house of refractories towards the future with regenerated values’.
To ensure high-quality products, Vaibhav Refractories utilizes high-quality raw materials, sourced directly from the earth
In addition to upholding the company’s values, the team at Vaibhav also takes pride in the ability to resolve the widespread sector issue of customization and versatility. “Flexibility is our forte. Short turnaround time allows us to provide customer service and satisfaction in emergencies as well. We offer a complete service package to our customers to give them an overall cost saving in terms of product, logistics, application, handling, and other aspects of refractory application”, adds Vaibhav.
Future Roadmap
In the near future, the company intends to keep establishing the brand, prioritizing client outreach. The team is now operating at about 70 percent capacity, and given that the company intends to add additional goods as well, aims to attain a 95 percent capacity utilization in two years. At that point, Vaibhav Refractories intends to go public and use the proceeds to construct a massive factory with a 12000 MT annual production capacity that will produce high-quality refractory monolithics for both the ferrous and non-ferrous sectors.
