Increasing demand for magnesia chrome bricks from the iron & steel industry is one of the significant factors influencing the market growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, April 6, 2023 /EINPresswire.com/ -- The global magnesia chrome bricks market is projected to be valued at USD 2,742.9 Million by 2027, according to a current analysis by Emergen Research. Magnesium oxide (MgO) and chromium oxide are combined to create refractory bricks known as magnesium chrome bricks (Cr2O3). They are employed in high-temperature industrial applications where corrosion, erosion, and extreme heat resistance are necessary.

Increasing demand for magnesia chrome bricks from the iron & steel industry is a major factor driving the market. In the iron & steel industry, refractory materials such as magnesia chrome bricks indispensably constitute the lining of backup zones of furnaces and working interfaces used in iron and steel production and transportation of liquid steel, hot metal, and slag.

About 70.0% of the global production of refractory materials is consumed in the steel industry. The worldwide crude steel production was 1,869.9 metric tons in 2019, a growth of 3.4% over that in the previous year. Growing steel production is likely to boost the market for magnesia chrome bricks during the forecast period.

In the cement industry, magnesia chrome bricks are used to protect the steel kiln shell from heat, which exceeds the maximum operating temperature suggested for carbon steel. In the absence of refractory materials, the generated heat would destroy the kiln shell and, in turn, hamper the production. Magnesia chrome bricks also act as an abrasion-resistant material and minimize the dissipation of heat through a kiln. Rise in the worldwide production of cement is likely to drive the market in the next few years. For instance, in India, the production of cement stood at 329 million metric tons in FY20 and it is estimated to exceed 380 metric tons by FY22.

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Report Scope:

Historical Data: 2016-2018

Forecast Period: 2020-2027

CAGR: 2.8%

Base Year: 2019

Number of Pages: 250

How will this Report Benefit you?

We have recently released a 250-page report from Emergen Research that includes 194 tables and 189 charts and graphics. Those who need commercial, in-depth market assessments for the global Magnesia Chrome Bricks market, as well as a detailed market segment analysis, can find our new report valuable. Our recent study provides a thorough assessment of the whole regional and global market for Magnesia Chrome Bricks. To increase market share, obtain a comprehensive financial analysis of the whole market and its various segments. It is clear that energy storage technology is rapidly expanding. Look at how you might take advantage of the current and future revenue-generating opportunities in this industry. Additionally, the research will assist you in making more effective strategic decisions, such as building growth strategies, strengthening competitor analysis, and increasing business productivity.

Key Points of Magnesia Chrome Bricks Market:

In August 2020, IMERYS, a company based in France, made an announcement about the signing of a contract to purchase a 60.0% equity stake in Haznedar Group, a Turkey-based producer of refractory bricks

Direct-bonded magnesia chrome bricks are anticipated to witness significant demand during the forecast period. Direct-bonded magnesia chrome bricks is a high-grade refractory material employed to improve large-scale production of cement. Spinel and calcite present in direct-bonded magnesia chrome bricks impart high-temperature performance to refractory bricks.

Growth of the construction industry is one of the key factors boosting the demand for magnesia chrome bricks. Increasing population in developing nations, infrastructure development, surging demand for residential homes, and rising investments in the telecom sector are among the factors boosting the construction activities.

The flat glass industry in the U.S. was valued at USD 22.00 Billion in 2018 and is likely to exceed value of USD 50.00 Billion by 2027. Increasing demand for glass products is propelling the demand for magnesia chrome bricks.

North America held a substantial share of the global magnesia chrome bricks market in 2019, owing to growth of the iron & steel industry in the region. Also, rising emphasis on renewable power generation is projected to fuel the market in the region during the forecast period.

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Regional Analysis:

The report sheds light on the region expected to dominate the Magnesia Chrome Bricks market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Magnesia Chrome Bricks market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

Segments Covered in this report are:

Product Type Outlook (Revenue, USD Million; 2017–­­­2027)

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; 2017–­­­2027)

Iron & Steel

Non-ferrous Metals

Power Generation

Glass

Cement

Others

Regional Outlook (Revenue, USD Million; 2017–­­­2027)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

BENELUX

Rest of Europe

Asia Pacific

China

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

Rest of Middle East & Africa

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Leading Companies of the Magnesia Chrome Bricks Industry and Profiled in the Report are:

Calderys, Resco Products, RHI Magnesita NV, KT Refractories, Mayerton, Vesuvius, Chosun Refractories Co. Ltd., HarbisonWalker International Inc., Magnezit Group Ltd., Lanexis

In conclusion, the Magnesia Chrome Bricks Market report is an exhaustive database that will help readers formulate lucrative strategies. The Magnesia Chrome Bricks Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

Additional information offered by the report:

Along with a complete overview of the global Magnesia Chrome Bricks market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.

The report elaborates on the global Magnesia Chrome Bricks market size and share governed by the major geographies.

It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.

It further presents a detailed description of the company profiles of the key market contenders.

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