The global magnesia chrome bricks market size is projected to be valued at USD 2,819.7 Million by 2028, and register a revenue CAGR of 2.8% going ahead. Rising need for magnesia chrome bricks from the iron & steel industry is one of the significant factors fueling the revenue growth of the market. In the iron & steel industry, refractory materials like magnesia chrome bricks are highly used in the production of lining of backup zones of furnaces, and working interfaces used in the production of iron and steel and transportation of hot metal, liquid steel, and slag. Approximately 70.0% of the global production of refractory materials is consumed in the steel industry. Therefore, growing production of steel is predicted to contribute to the revenue growth of the global market in between 2021 and 2028.
Magnesia-chrome bricks are developed with high purity magnesia and chrome. The bricks exhibit excellent thermal stability and perform well at high temperatures and pressure. These special bricks are commonly utilized in non-ferrous furnaces and cement kilns. Magnesite chrome bricks are made up of magnesium oxide (MgO) and chromium oxide (Cr2O3) due to the main ingredient—periclase, and spinel as the primary mineral component of a wide range of refractory products.
In the cement industry, magnesia chrome bricks are highly adopted for protecting the steel kiln shell from high temperature, which exceeds the maximum temperature suggested for the operation of carbon steel. In the absence of any refractory material, the kiln shell would be destroyed by the generated heat, in turn, hamper the overall production. Additionally, magnesia chrome bricks also aid in minimizing the dissipation of heat through a kiln, and act as an effective abrasion-resistant material. Increasing global production of cement is predicted to drive the market in the coming years.
Key Highlights of Report:
- In August 2020, a France-based company, IMERYS, made an announcement regarding the signing of a contract for purchasing a 60.0% equity stake of a Turkey-based producer of refractory bricks, Haznedar Group.
- Direct-bonded magnesia chrome bricks are projected to witness steady demand in the market over the forecast period. A high-grade refractory material, direct-bonded magnesia chrome brick, is employed for improving large-scale cement production. The major mineral components present in direct-bonded magnesia chrome bricks, such as spinel and calcite impart high-temperature performance to refractory bricks.
- Rapid growth of the construction industry is one of the primary factors triggering the demand for magnesia chrome bricks, thus supporting the revenue growth of the overall market. In addition, rising population in several developing countries, fast infrastructural development, soaring demand for residential homes, and increasing investments in the telecom sector are other factors propelling the construction activities.
- North America market accounted for the highest revenue share in the global magnesia chrome bricks market in 2019, due to rapid growth of the iron & steel industry in the region. Moreover, growing emphasis on renewable power generation is predicted to fuel the revenue growth of this regional market going ahead.
- Major players operating in the market include Resco Products, Calderys, RHI Magnesita NV, Calderys, KT Refractories, Vesuvius, Lanexis, Mayerton, Chosun Refractories Co. Ltd., Magnezit Group Ltd., and HarbisonWalker International Inc.
For the purpose of this report, Emergen Research has segmented the global magnesia chrome bricks market in terms of product type, application, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Common Magnesite Chrome Brick
- Direct Bonded Magnesia Chrome Brick
- Fused Rebonded Magnesite Chrome Brick
- Chemically Bonded Magnesium Brick
- Fused Cast Magnesite Chrome Brick
Application Outlook (Revenue, USD Million; 2018–2028)
- Iron & Steel
- Non-ferrous Metals
- Power Generation
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/magnesia-chrome-bricks-market