LONDON--(BUSINESS WIRE)--Technavio has announced the top key manufacturers in their recent non-metallic minerals market in Serbia report until 2020. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the manufacturers and the market at large, as well as the key trends emerging in the market.
Some of the key factors that are expected to drive the growth of manufacturers of non-metallic minerals include:
- Serbia's impending accession to the EU, as the accession is likely to result in investments for the development of infrastructure, which will lead to an increase in construction activities.
- Initiatives by the government that favor the growth of the mineral mining industry in Serbia.
- Funding by international agencies like the IMF is expected to boost the economy of Serbia. In February 2015, the IMF waived off a soft loan worth USD 1.40 billion to restore and strengthen the country's financial sector.
- Falling prices of oil and gas is likely to lead to reduction in energy costs involved in the manufacture of non-metallic mineral products in Serbia.
- Investment and expansion plans of automotive manufacturers, such as Fiat, is expected to provide potential growth opportunities to manufacturers of glass and glass-based products.
The non-metallic minerals market in Serbia is characterized by the presence of over 700 manufacturers, of which, 80% are micro-sized and 13% are small-sized manufacturers. Competition is mostly prevalent between the medium and large-sized manufacturers.
Segmentation of manufacturers of non-metallic mineral products in Serbia by size 2015
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The market is fragmented with the presence of many domestic manufacturers and distributors that import low-cost products from countries such as China. This has led to several regional manufacturers losing out to cheaper imports. Both multinational as well as regional and indigenous manufacturers have an established presence in the market. Manufacturers compete based on price, innovation, quality, and performance.
Multinationals focus primarily on large-scale construction projects, whereas indigenous players focus more on small-scale construction projects.
Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on metals and minerals, says, “Conservation of energy and reduction in emissions have now become the prime focus for organizations worldwide and this trend is likely to have an effect on the market during the forecast period, as manufacturers try to adopt advanced technologies. Manufacturers are also promoting innovation by expanding their R&D horizons, and investing in the development of new products.”
Some of the key manufacturers in the non-metallic minerals market in Serbia are:
|ARKADE||Manufacturer of ceramic products such as cups, teapots, mugs, jewelry boxes, and vases|
|BHW Ceramics||Manufacturer of ceramics based in the UK|
|Granite Line||Manufacturer of stone-based products|
|HTR Refractories||Manufacturer of refractory materials|
|Industrija Stakla Pancevo||Largest state-owned glass manufacturer in Serbia|
|Keramika Kanjiža||Manufacturer of ceramic tiles|
|MLADOST||Producer of building materials|
|Pavle||Manufacturer of glass, founded in 1992|
|Saint-Gobain||Manufacturer of high-performance materials for sectors such as building and construction based in France|
|Serbian Glass Factory||Manufacturer of glass and glass-based products|
|Teker||Manufacturer of ceramics|
|Toza Marković||Manufacturer of bricks|
|UNIVERZUM BRICK PLANT||Manufacturer of clay-based products|
|Zorka Keramika||Manufacturer of tiles|
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