The magnesia chrome brick market is highly dependent on the iron & steel industry, which covers around 60% of the global market. The rest 40% share is covered by end-use industries such as power generation, cement, glass, non-ferrous metal, and chemical. Hence, the downfall of iron & steel industry would lead to a consequent decline in the magnesia chrome brick market.
APAC is expected to hold the largest market share in the global magnesia chrome brick market during the forecast period.
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.
RHI Magnesita (Austria), Visuvius (UK), Shinagawa Refractories (Japan), HarbisonWalker International (US), and Calderys (France) are the leading magnesia chrome brick manufacturers, globally.
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Vesuvius (UK) is the second-largest player of the magnesia chrome brick market, globally. It offers its refractory products through the steel and foundry segments. The company is focused on new product developments and geographical expansions. It also invests in R&D activities. In 2017, the company inaugurated its new R&D center in Visakhapatnam, India. This R&D facility is dedicated to advanced refractories. Vesuvius has a strong product portfolio, which includes products such as magnesia chrome brick, coatings, filtration and gating system, metallurgical and pouring control systems, feeding systems, die dressings and coatings, melt treatment products, crucibles, and ceramics.
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