Magnesia Chrome Brick Market by Type (Direct Bonded, Fused/Rebonded, Chemically Bonded,Fused Cast), End-use Industry (Iron & Steel, Power generation, Non-Ferrous metals, Cement, Glass), and Region - Global Forecast to 2025
The global Magnesia chrome brick market is estimated to be USD 2.2 billion in 2020 and is projected to reach USD 2.6 billion by 2025, at a CAGR of 3.0% from 2020 to 2025. The market is witnessing moderate growth, owing to increasing application, infrastructural development, and growing demand for these magnesia chrome brick in the Asia Pacific and Europe. Magnesia chrome brick are largely used in the iron & steel industry. The increasing use of magnesia chrome brick in iron & steel making and the rising construction activities is driving the Magnesia chrome brick market. Strict environmental and government regulations is the restraints for the Magnesia chrome brick market.
“Iron & Steel segment is expected to lead the Magnesia chrome brick market during the forecast period.”
The iron & steel industry will continue to lead the Magnesia chrome brick market, , accounting for a share of 60.2% of the overall market, in 2019 terms of value. This was due to the increasing demand for infrastructure development and mounting demand for consumer goods such as automobiles. The increasing preference for high-cost, high-performance magnesia chrome brick is driven by by its applications in the lining of various furnaces, ladles, and vessels, which are governed by the operating conditions at each stage in the process of manufacturing steel.
“Asia Pacific is the largest market for Magnesia chrome brick .”
Asia Pacific accounted for the largest share of the Magnesia chrome brick market in 2020. Factors such as the rapidly increasing consumption of magnesia chrome brick in the iron & steel, power generation cement, and glass industries in countries such as China, Japan, India, South korea and Australia have led to an increased demand for Magnesia chrome brick in the Asia Pacific region.
This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into 3 categories, namely by company, by designation, and by region.
By Company Type- Tier 1- 55%, Tier 2- 30%, and Tier 3- 15%
By Designation- C Level- 55%, Directors – 23%, and Others - 21%
By Region- North America- 45%, Europe- 27%, Asia Pacific- 15%, Middle East – 6%, and South America - 7%
The magnesia chrome brick market comprises major solution providers, such as RHI Magnesita (Austria), Visuvius (UK), Shinagawa Refractories (Japan), HarbisonWalker International (US), and Calderys (France) among others. The study includes an in-depth competitive analysis of these key players in the magnesia chrome brick market, with their company profiles, and key market strategies.
The report covers the magnesia chrome brick market based on type, end-use, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report:
Comprehensive coverage and analysis of the magnesia chrome brick market in Asia Pacific, Europe, North America, Middle East & Africa, and South America
Competitive landscape of major players and their developments in magnesia chrome brick market
A list of VOC regulations driving the market in key countries and regions
Identifying high-potential opportunities for magnesia chrome brick
Identifying and targeting high-growth application segments
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