Magnesia Chrome Brick Market Scope
Magnesia chrome brick is also called silicate bonded magnesia chrome brick, which is made of sintered magnesia clinker and refractory chrome brick. It consists of magnesium oxide (MgO) and chromium oxide (Cr2O3) as the main ingredient. It is used in metallurgy, building open-hearth furnace, electric furnace roof, refining furnace and various non-ferrous metal smelting furnace. Magnesia chrome brick has various advantages such as low thermal conductivity, good integrity with furnace lining, long service life and ease operation, good thermal stability, and high thermal insulation properties.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | RHI Magnesita (Austria), Visuvius (United Kingdom), Shinagawa Refractories (Japan), HarbisonWalker International (United States), Calderys (France), Minerex India (India), Rongsheng Kiln (China) and Ravani Ceramics (India) |
CAGR | % |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Magnesia Chrome Brick market throughout the predicted period.
RHI Magnesita (Austria), Visuvius (United Kingdom), Shinagawa Refractories (Japan), HarbisonWalker International (United States), Calderys (France), Minerex India (India), Rongsheng Kiln (China) and Ravani Ceramics (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Gita Refratories (P) Ltd. (India) and Lanexis Enterprises (P) Ltd. (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Magnesia Chrome Brick market by Type and Region with country level break-up.
On the basis of geography, the market of Magnesia Chrome Brick has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2020,RHI Magnesite acquired Missouri Refractories Co.Inc. MORCO perfectly fits into RHI Magnesite Strategy to StrateGen in the company position in the North America
In June 2019,Resco product announced the opening of the new R and D Center in the Greensboro in the north Carolina
Influencing Trend:
Growing Preference of High-Performance Magnesia Chrome Brick
Market Growth Drivers:
Growing Urbanization and Industrialization Emerging Economies and Constant Demand for the Development of Railways and Roadways in the Country
Challenges:
High Dependence on Iron and Steel Industry
Restraints:
Growing Environmental Concerns Is Restricting the Use of Use of Magnesia Chrome Brick and Increase in Costs of Raw Materials
Opportunities:
Wide Range of Applications of Magnesia Chrome Brick and Rising Demand for Consumer Goods
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations, Enterprise software vendors and Others