(EMAILWIRE.COM, October 15, 2021 )
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.

RHI Magnesita (Austria), Visuvius (UK), HarbisonWalker International (US), and Shinagawa Refractories (Japan). among others are the leading magnesia chrome brick manufacturers, globally. These companies adopted expansion and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the magnesia chrome brick market.

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RHI Magnesita (Austria) is the largest player in the magnesia chrome brick market, globally. In 2016, RHI AG, merged with Magnesita Refratarios S.A. to form the world’s leading refractories manufacturer, RHI Magnesita N.V. The company has a good geographical presence with operations in more than 180 countries and 70 sales offices. The company has a strong product portfolio of magnesia chrome brick, which caters to various end-use industries such as glass, lime, foundry, and metallurgy. As a part of its growth strategy, the company is actively engaged in mergers & acquisitions. The company has recently announced the merger of its Indian subsidiaries (RHI India, RHI Clasil, and Orient Refractories).

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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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