Magnesia Chrome Brick Market: An Overview
Magnesia chrome brick, also known as silicate bonded magnesia chrome brick is a product which is constructed using a sintered magnesia clinker and a refractory chrome brick. The key ingredients for manufacturing a magnesia chrome brick are magnesium oxide and chromium oxide. They have significant applications in furnaces such as electric furnace, open-hearth furnace, refining furnace, etc. and is also used in metallurgy. Magnesia chrome brick has special characteristics like a notable resistance to extreme temperatures, good thermal stability, and impressive refractoriness, long service life and ease of usage under low thermal conductivity.
The global magnesia chrome brick market is subject to witness a boost with a steady CAGR in the upcoming years that is from 2024 – 2030. Rising urbanization and industrialization, especially in developing regions such as India and China, has resulted in a significant investment in the construction of several commercial and residential buildings. This factor is an important driver for the market.
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Increased demand from a number of regions pertaining to the construction industry has assisted in the growth of the magnesia chrome brick market over the last few years. The versatility of the magnesia chrome bricks and its abundant usage in several industries are some factors which make it an ideal product for various applications thereby increasing the overall magnesia chrome brick market value.
On the other hand, the manufacturing process of the product releases a number of harmful gases like Sulphur dioxide in the atmosphere and government stipulated eco-friendly initiatives prevent that thereby acting as a restraint for the global magnesia chrome brick market.
Magnesia Chrome Brick Market: Covid – 19 Pandemic Impact
The pandemic of Covid – 19 caused by the SARS-2 corona virus has had crucial impacts on the global magnesia chrome brick market. The key players in the market such as RSI Magnesita have announced the suspension of production due to a distinct lowered demand, supply chain restrictions, and employee safety policies across various regions. Consequently, the demand for magnesia chrome brick is expected to decline in 2024. Government initiated measures like lockdowns have halted the transportation facilities thereby effecting the market adversely.
Segmentation Analysis of Magnesia Chrome Brick Market:
The global magnesia chrome brick market is mainly bifurcated into three major segments which are classified as: type of product, end – user industry and geographical presence.
On The Basis Of Type Of The Product, The Magnesia Chrome Brick Market Has Been Segmented As Follows:
- Direct Bonded
- Fused / Re-Bonded
- Chemically Bonded
- Fused Cast
On The Basis Of End – User Industry Of The Product, Magnesia Chrome Brick Market Has Been Segmented As Follows:
- Iron & Steel
- Power Generation
- Non – Ferrous Metals
- Cement
- Glass
- Others
On The Basis Of Geographic Regions, Magnesia Chrome Brick Market Has Been Segmented As Follows:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Magnesia Chrome Brick Market: Regional Analysis
The global magnesia chrome brick market is spread out to several regions across the globe which are mainly North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa. The dominant region which covers majority of the magnesia chrome brick market is Asia Pacific. The key aspect responsible for this is the ever increasing construction buildings and roadways, railways, etc. especially in upcoming economies like India and China. Moreover, the investments in research & development of the construction sector is also a key factor affecting the growth of magnesia chrome brick market in this region.
Meanwhile, regions like North America are also subject to notable market growth owing to easy availability, increase in demand of magnesia chrome bricks and widespread applications of the product in the iron & steel industry.
Magnesia Chrome Brick Market: Key Players
The global magnesia chrome brick market is significantly fragmented in nature. A number of key players dominate the market some of which are RHI Magnesita GmbH, Vesuvius, Shinagawa Refractories Co. Ltd., HarbisonWalker International, Calderys, Chosun Refractories, Magnezit Group, Resco Products, Rongsheng Refractory Materials, Kt Refractories, Puyang Refractories Group Co., Ltd, TRL KROSAKI, Minerex India, and Ruitai Materials Technology. These players have used several strategies and innovations to expand the product portfolio in the market. Other competitors have adapted to usage of strategies such as mergers and acquisitions. Developments of manufacturing units in various regions across the globe is also carried out by some players.
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