The global Magnesia Chrome Brick market size is expected to grow from USD 2.2 billion in 2020 to USD 2.6 billion by 2025, at a CAGR of 3.0% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries ranging from iron & steel to the glass industry. Increasing demand from APAC will further drive the growth of the global magnesia chrome brick market.
COVID-19 Impact on the Magnesia chrome brick Market
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.
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.
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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.
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