Magnesia Chrome Bricks Market Size to Reach USD 2,742.9 Million by 2027 | Rise in Infrastructure Development Activities will be the Key Factor Driving the Industry Growth, States Emergen Research

Vancouver, British Columbia, Jan. 25, 2021 (GLOBE NEWSWIRE) — The global magnesia chrome bricks market was valued at USD 2,190.7 Million in 2019 and is projected to reach USD 2,742.9 Million by 2027, at a CAGR of 2.8% during the forecast period, according to a current analysis by Emergen Research. Magnesia chrome bricks are witnessing high demand, due to the rise in infrastructure development activities, especially in developing economies. A smoothly functioning, up-to-date infrastructure is essential to a nation’s economic development and quality of living of its citizens. The worldwide infrastructure investment needs are likely to be USD 94.00 Trillion in the 2016–2040 period, which is equivalent to USD 3.70 Trillion annually.For instance, in India, the government’s emphasis on providing housing to all citizens by 2022 is likely to drive the demand for cement in the next few years. Also, announcements pertaining to infrastructure development projects, including the Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project that is valued at USD 500.00 Billion, are fueling the demand for cement. This, in turn, is propelling the magnesia chrome bricks market in the country.Claim Your FREE Sample Copy with Table of content@ power generation sector is driven by rapid urbanization and growth in demand for energy. Refractory materials such as magnesia chrome bricks are frequently installed to assist in regulating the heat to obtain protection from thermal shocks resulting from constant use over time.Key Highlights of ReportIn September 2019, Orient Refractories Limited made an announcement about the acquisition of machinery and assets of Manishri Refractories & Ceramics Pvt. Ltd.Fused cast magnesia chrome bricks are considerably employed in various end-use industries, owing to their beneficial properties such as large-sized and isolated pores, good corrosion resistance, high strength, and high-temperature enduranceDemand for cement in India is estimated to reach 550–600 MTPA by the year 2025, owing to surging demand from various sectors, including industrial, commercial, and residential construction. Furthermore, the Government of India, in the Union Budget 2019–20, made an announcement to upgrade roads stretching 1,25,000 kilometers in the next five years, which is likely to boost the demand for cement in the country in the near future.Asia Pacific held the largest share of the global chrome bricks market in 2019. The market in the region is led by China. Dominance of the APAC region is attributable to growth of end-user industries, especially iron & steel, power generation, cement, and glass, in the region. Besides, rise in the level of disposable income in the region is boosting the market in Asia Pacific.Key market participants include Calderys, Resco Products, RHI Magnesita NV, KT Refractories, Mayerton, Vesuvius, Chosun Refractories Co. Ltd., HarbisonWalker International Inc., Magnezit Group Ltd., and LanexisCheck Our Prices@
Emergen Research has segmented the global magnesia chrome bricks market in terms of product type, application, and region:
Product Type Outlook (Revenue, USD Million; 2017–­­­2027)Common Magnesite Chrome BrickDirect Bonded Magnesia Chrome BrickFused Rebonded Magnesite Chrome BrickChemically Bonded Magnesium BrickFused Cast Magnesite Chrome BrickApplication Outlook (Revenue, USD Million; 2017–­­­2027)Iron & SteelNon-ferrous MetalsPower GenerationGlassCementOthersClick to access the Report Study, Read key highlights of the Report and Look at Projected Trends: Outlook (Revenue, USD Million; 2017–­­­2027)North AmericaU.S.CanadaMexicoEuropeGermanyU.K.FranceBENELUXRest of EuropeAsia PacificChinaJapanSouth KoreaRest of APACLatin AmericaBrazilRest of LATAMMiddle East & AfricaSaudi ArabiaUAERest of Middle East & AfricaTake a Look at our Related Reports:Spherical graphite market size was valued at USD 2,435.8 Million in 2019 and is forecasted to reach USD 9,598.8 Million by 2027 at a CAGR of 18.6%. The spherical graphite market is observing a double-digit growth attributed to its increasing usage in lithium-ion battery production.Sodium dichromate market size was valued at USD 759.2 Million in 2019 and is forecasted to reach USD 1,242.4 Million by 2027 at a CAGR of 6.3%. The sodium dichromate market is observing high demand attributed to its increasing application in pigment, metal finishing, chromium compounds preparation, leather tanning, and wood preservative.Acoustic insulation market size was valued at USD 12.94 Billion in 2019 and is forecasted to reach USD 19.64 Billion by 2027 at a CAGR of 5.3%. The acoustic insulation market is observing high demand attributed to its increasing application in building & construction, automotive, aerospace, and manufacturing.About Emergen ResearchEmergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.Contact Us:Eric LeeCorporate Sales SpecialistEmergen Research | Web: www.emergenresearch.comDirect Line: +1 (604) 757-9756E-mail: [email protected]Facebook | LinkedIn | Twitter | BlogsRead Full Press Release@

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