Market Leader – Magnesia Chrome Brick Market

Magnesia Chrome Brick Market

CITY, Country, 2021-Oct-14 — /EPR Network/ —

MarketsandMarkets expects the global magnesia chrome brick market size to grow from USD 2.2 billion in 2020 to USD 2.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.0% during the forecast period. The growth of the iron & steel, power generation and cement industries play a key role in driving the magnesia chrome brick market. The increased consumption of magnesia chrome brick in end-use industries is due to their potential advantages such as high thermal strength, and strong resistance for erosion and corrosion.

Magnesia chrome brick is a basic refractory brick made from magnesium oxide and chromium oxide, which can withstand high temperature of around 3,6332 F. They have high temperature strength, good thermal shock resistance and strong basic slag erosion and corrosion resistance.

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Among the different types of magnesia chrome brick, the direct bonded segment is the largest type during the forecast period in the global magnesia chrome brick market. The demand for direct bonded magnesia chrome brick is driven by its increased usage in various end-use applications such as iron & steel, glass, cement and non-ferrous metals.

The iron & steel industry will continue to lead the magnesia chrome brick market. 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 its applications in the lining of various furnaces, ladles, and vessels in steelmaking.

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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.

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