LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the non-metallic minerals market in Bosnia and Herzegovina is expected to grow at a CAGR of close to 5% during the forecast period.
This research report titled ‘Non-metallic Minerals Market in Bosnia and Herzegovina 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on product type, the report categorizes the non-metallic minerals market in Bosnia and Herzegovina into the following segments:
- Glass and glass-based products
- Stone-based products
- Clay-based building products
- Other non-metallic minerals (refractory, porcelain, and ceramic products)
Glass and glass-based products market in Bosnia and Herzegovina
In 2015, in terms of revenue, the glass and glass-based products segment accounted for a 45% share of the non-metallic minerals market in Bosnia and Herzegovina. The glass manufacturing industry in Europe is substantial in terms of volume and revenue. Bosnia and Herzegovina is expected to benefit from its proximity to the EU, as the EU accounts for the largest share in the global glass market, in terms of volume and revenue.
“Manufacturers in the glass and glass-based products segment are focusing on exports to the EU and other countries in the West because of low domestic demand, and this drop in domestic demand has led to low utilization of production capacities in the country. For instance, Rama Glas, a key producer of glass in the country, is focusing on export markets in the EU and the Americas for growth,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on metals and minerals.
The report also categorizes the glass and glass-based products segment into the following: tempered safety glass, multiple-walled insulating glass, framed and non-framed glass mirrors, and other glass and glass-based products.
Stone-based products market in Bosnia and Herzegovina
Stone-based products have always been in demand in Bosnia and Herzegovina because of the abundance of raw materials and growing demand for energy-efficient buildings. The stone-based products market in Bosnia and Herzegovina and other Central and East European countries have gained a lot of momentum over the past five years because of a rise in demand from export markets, particularly the EU. Demand from exports markets such as Germany and Slovenia also offer opportunities to manufacturers of stone-based products in the region. In 2014, exports of stone-based products witnessed a major dip of over 12%-13%, primarily because of political unrest in the country and severe floods that ravaged the country. However, it is expected to grow by the same amount (12%-13%) during 2015-2017.
The stone-based products segment is further classified into granite-based products, marble-based products, and others.
Clay-based building products market in Bosnia and Herzegovina
Clay-based building products are widely used for construction purposes. They offer unique technical and aesthetic characteristics that support the design and construction of unconventional buildings. Clay-based building products also offer advantages such thermal non-conductivity, which helps in regulating the internal temperature of buildings and requires minimal use of energy consuming devices such as air conditioners.
“The construction industry in Bosnia and Herzegovina grew by over 3% by the end of the third quarter of 2014 compared to the previous year, because of a substantial rise in the construction of residential buildings. Rise in investments in infrastructure, especially residential and commercial buildings, has resulted in a rise in demand for clay-based building products,” says Chandrakumar.
Other non-metallic minerals market in Bosnia and Herzegovina
The construction sector, specifically the residential segment, is a major contributor to the growth of the other non-metallic minerals market. Refractory, porcelain, and ceramic products are some of the major end products. Ceramic products are likely to witness the strongest demand during the forecast period due to the entry of an increasing number of manufacturers in this segment. Demand for ceramic products is also likely to increase due to characteristics such as thermal non-conductivity, which makes it an ideal material in the construction industry, as it provides insulation from thermal changes in the environment, thereby enhancing the energy-efficiency of buildings.
Some of the top vendors highlighted by Technavio’s research analysts in this report are:
- Rama Glas
- Elker Ljubija (part of Inving Group)
- Fabrika cementa Lukavac (part of Asamer Group)
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