While most of the world's refractories industry suffered under the global downturn, India remained relatively resilient and its steel market - the greatest consumer of refractories - is expected to grow by 12.1% in 2010. India, with China, was among the emerging economies which started to improve in Q4 2009. Over 80% of new refractory demand in 2012 is expected to be attributable to China, Asia continuing to be the fastest growth region in the world within the next two years. But while China will account for much of the regions gains, India is expected to show advances above the world average.
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