[ 129 Pages Report] The magnesia chrome brick market size is expected to grow at a CAGR of 3.0%, by value, during the forecast period. The market is estimated to be USD 2.2 billion in 2020 and is projected to reach USD 2.6 billion by 2025. The driving factors for Magnesia chrome brick market is its growing demand from iron & steel industry.
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The global Magnesia chrome brick market includes major Tier I and II suppliers like as RHI Magnesita (Austria), Visuvius (UK), Shinagawa Refractories (Japan), HarbisonWalker International (US) and Caldarys (France). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted their businesses as well.
These players have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in the US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for magnesia chrome brick is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from tier 1 manufacturers.
Growing urbanization and industrialization, especially in emerging economies such as India and China, has led to significant investment in the construction of residential and commercial buildings. According to the Global Construction Perspective and Oxford Economics, the global construction market will grow by 85% to USD 15.55 trillion worldwide by 2030, with three countries China, India and the US accounting for 57% of the global growth.
China is one of the fastest-growing economies; rising travel demand requires constant development of railways and roadways in the country. This has also boosted the growth of the automotive industry in China. The increased pace of infrastructure development in these emerging countries has led to an increase in the construction of residential and commercial buildings, which is expected to drive the demand for magnesia chrome brick in the iron & steel and cement industries. Increasing construction activities in emerging economies are also expected to drive the glass industry, which, in turn, will drive the magnesia chrome brick demand.
The manufacturing process of magnesia chrome brick leads to the emission of organic particulate matter (PM) and harmful gases such as sulfur dioxide (SO2), nitrogen oxides (NOx), carbon monoxide (CO), carbon dioxide (CO2), fluorides, and volatile organic compounds (VOCs). Processes, including crushing, grinding, calcining, and drying, lead to the emission of PM, while gases and VOCs are emitted during firing and tar & pitch operations, respectively.
In the US, regulations regarding refractory waste disposal and guidelines regarding the use of refractories encourage recycling of chrome-based refractories, which are largely used in the iron & steel industry. Similarly, in Europe, projects such as ReStaR (Review and improvement of testing Standards for Refractory products), have been implemented to ensure the reliability and precision of the current refractory testing standards in the region. Such environmental regulations and restrictions on the use of refractory materials act as a restraining factor for the growth of the magnesia chrome brick market.
The used refractory materials, which are further recycled to form secondary raw materials, are known as refractory grogs. Various magnesite and chromite grogs are used in recycling. The usage of recycled magnesia chrome brick depends on the quality of the actual refractory; 100% of the high-quality recycled magnesia chrome brick can be used in other processes, but only 0–30% of the recycled magnesia chrome brick can be used which are obtained from low-quality magnesia chrome brick. The need for recycling of refractory products has increased owing to the increase in the cost of raw materials and freight and environmental pressures that have compelled the companies to look for more sustainable alternatives for refractory applications.
There are several factors which played a pivotal role in the shift toward refractory recycling. From 2008 to 2010, the refractory industry worldwide underwent a very volatile period, during which, certain raw materials became almost impossible to procure due to high demand coupled with low supply. Pressure has been mounting on companies to become environmentally responsible by reducing their respective carbon footprints. Increased taxes on landfill sites and emissions are being enforced, and tax incentives are also proposed to motivate companies to increase their waste recycling efforts. The economic recession during the early part of 2009 affected the refractory sales. The manufacturers are striving to reduce prices to retain their market share. Therefore, recycling of magnesia chrome brick helps to reduce the production cost for the manufacturers, thus offering lucrative opportunities for the growth of this market.
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.
The demand for magnesia chrome brick from the iron & steel industry has been volatile over the past few years, which has significantly affected the market. Even with the rising demand for magnesia chrome brick from other industries and recovery of the global economic situation, the dependence of magnesia chrome brick market on the iron & steel industry is expected to remain unchanged, thus posing a huge challenge for the growth of the magnesia chrome brick market.
To know about the assumptions considered for the study, download the pdf brochure
Source: Secondary research, primary research, and MarketsandMarkets Analysis
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.
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 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 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.Key Market Players
Magnesia chrome brick is a diversified and competitive market with a large number of global players and few regional and local players. RHI Magnesita (Austria), Visuvius (UK), Shinagawa Refractories (Japan), HarbisonWalker International (US) and Calderys(France). are some of the key players in the market.
Market Size Available for years
Base year considered
Value (USD Billion) and Volume (Kiloton)
By Type, By End-use & By Region
Does this report cover volume tables in addition to the value tables?
Yes, volume tables are provided for each segment except offering.
Which countries are considered in the European region?
The report includes the following European countries
What is the COVID-19 impact on the Magnesia chrome brick market?
Industry experts believe that COVID-19 would have a impact on magnesia chrome brick market as there is an increase in demand for magnesia chrome brick in various industries such as cement, iron & steel and glass. Furthermore, they also believe that the market will rebound in Q4 in 2020.
What are some of the uses of Magnesia chrome brick?
Magnesia chrome brick are largely used in the cement applications by the construction industries, power generation and iron & steel l end-use industries. .
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