Global Magnesia Chrome Brick Market Size, Trends & Analysis - Forecasts to 2026 By Type (Direct Bonded, Fused/Re-Bonded, Chemically Bonded, and Fused Cast); By End-User Industry (Iron & Steel, Power Generation, Non-Ferrous Metals, Cement, Glass, and Other End-Users); By Region (North America, Europe, Asia Pacific, MEA, CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Magnesia Chrome Brick Market Insights
The global magnesia chrome brick market is estimated to show a peak market growth of CGAR 3.2% in the conjecture time frame (2020-2026). Silicate bonded magnesia chrome brick is the other name of magnesia chrome brick, which is constructed using sintered magnesia clinker and refractory chrome brick. Magnesium oxide (MgO) and chromium oxide (Cr2O3) being the major ingredients for manufacturing have shown significant applications in electric furnace roof, metallurgy, building open-hearth furnace, refining furnace, and various non-ferrous metal smelting furnace. Magnesia chrome brick has eye-catching properties like good resistance to extreme cold and hot temperature, excellent thermal stability, refractoriness of above 2000 ?, strong resistance from alkaline slag, long service life, and easy operation with low thermal conductivity.
The high demand for magnesia chrome brick from the iron & steel industry remains the primary market booster for the growth. Growing urbanization and industrialization with emerging economies created lucrative opportunities for the magnesia chrome brick. Consistent demand from countries like China and India for the development of railways, roadways, and construction of resident & commercial buildings has increased the growth pace of the magnesia chrome brick market in the last few years. However, the recycling of refractory brick to a secondary material, refractory grogs requires the low quality of magnesia chrome brick. The demand for recycled products has been increasing as a matter of reduction in cost for the production for manufacturers and lucrative opportunities for the key market players.
Global pandemic results in suspension of on-going production of magnesia chrome brick around the globe owing to low demand from the customers, supply chain cutback, and short employees attendance. However high production cost and growing environmental concerns due to the emission of harmful gasses during production have restricted the use of magnesia chrome in many regions of the globe thus act as a big hurdle for product growth.
Magnesia Chrome Brick Market: By Type
Given by the type magnesia chrome brick, the market is bifurcated into fused/re-bonded, direct bonded, fused cast, and chemically bonded. The directly bonded segment of magnesia chrome brick is expected to build a huge market in the coming years as the demand of the segment is high in the production of cement for construction based projects. However high temperature and pressure resistance are the key properties of the segment but due to the high requirement of pure magnesite ore and chromite as raw material, the directly bonded segment ends up raising the overall cost of production.
Magnesia Chrome Brick Market: By End-User Industry
The end-user industry of magnesia chrome brick can be explained based on 7 segments namely, power generation, iron & steel, non-ferrous metals, glass, cement, and other end-users. The iron & steel industry dominated the magnesia chrome brick market by sharing more than 60% of the total market in the last year. The reason behind the insignificant growth of the segment is an increase in infrastructural development and high demand for consumer goods such as automobiles.
Despite the high cost, the high performance is the key driver of the magnesia chrome brick market which creates a wide application range starting from the various lining of furnaces to ladles and vessels that are governed under operating conditions of steel manufacturing.
Magnesia Chrome Brick Market: By Region
Expeditious consumption of magnesia chrome brick from industries like iron & steel, glass, and power generation cement in countries like India, China, South Korea has led the overall Asia-pacific market and made it to be the highest revenue builder of 2019.
Similar market growth is expected in the coming years owing to an increase in industry set-up and high development of railways, roadways, and construction of resident & commercial buildings in the APAC region.
Magnesia Chrome Brick Market Share and Competitor Analysis
The key players operating in the market are RHI Magnesita, Vesuvius plc, SHINAGAWA REFRACTORIES CO., LTD., HarbisonWalker International (HWI), Calderys, CHOSUN REFRACTORIES CO., LTD, Magnezit Group, RESCO Products, Rongsheng Kiln Refractory Co., Ltd, KT Refractories, PUYANG REFRACTORIES GROUP CO., LTD, TRL Krosaki Refractories Limited, Minerex (India), Ruitai Materials Technology, and Qinghua Refractories Co., Ltd. among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In June 2020, RHI Magnesita, launched ANKRAL LC, a sustainable and innovative product which will be used for Austria’s pilot projects. Low CO2 emission with the usage of recycled material during the production of ANKRAL LC is the major influencer of the market for this player.
In October 2019, HarbisonWalker International is awarded to be the largest supplier, and service provider of refractory products in North America, and has launched MULE-R (Material Unit Lift Enhancer – Refractory). It is lift-assisted technology designed first for the refractory industry with numerous safety satisfaction, benefits of productivity, and ergonomic during placement of refractory materials in manufacturing conditions.
Check the Press Release on Global Magnesia Chrome Brick Market Report
We value your investment and offer free customization with every report to fulfil your exact research needs.
The Global Magnesia Chrome Brick Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Magnesia Chrome Brick Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
Tailor made solutions just for you
80% of our clients seek made-to-order reports. How do you want us to tailor yours?