Trusted Business Insights presents the Latest Study on Seismic Reinforcement Materials Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Seismic Reinforcement Materials Market
Industry / Sector Trends
Seismic Reinforcement Materials Market Size was estimated over USD 30 billion in 2018 and the industry will grow by a CAGR more than 4% up to 2025.
U.S. Seismic Reinforcement Materials Market By End-use Sector, 2014 2025 (USD Billion)
Increasing need of seismic proof buildings in earthquake prone regions is one of the major driver for seismic reinforcement materials market. The specialty reinforcement materials are employed on building structures in order to minimize the possibility of earthquake damages. Adoption of building codes in different regions is going to compel the contractor & engineers for the usage of seismic reinforcement materials during construction. Such trends will upscale the market demand within the forecast period. The building structural codes specify the guidelines regarding design, construction and maintenance of structures in order to safeguard the health and welfare of residents. International Building Code (IBC), International Residential Code (IRC) and International Existing Building Code (IEBC) are some regulatory bodies responsible for the provision of seismic codes and their enforcement by local government bodies, which aid in mitigation of seismic hazards. Due to urbanization, the demand for infrastructure rehabilitation projects in transportation, water management and energy sector is increasing. This in turn will boost the seismic reinforcement materials market demand during the forecast time span.
According to United States Geological Survey, the total number of worldwide earthquakes was 1,566 in 2017 and increased to 1,808 in the year 2018. This increase was due to slower movement of Earths rotation, which triggered seismic activities in heavily populated tropical regions. In future, there is a high possibility of rise in number of earthquakes owing to slowing down of Earths rotation. The above mentioned trends will augment the market growth during the forecast time span.
Lack of awareness associated with seismic techniques is going to hinder the market growth. Due to uncertainty of earthquakes, people are unwilling to implement seismic measures for their less or negligible economic returns.
Market Segmentation, Outlook & Regional Insights: Seismic Reinforcement Materials Market
Seismic Reinforcement Materials Market, By Material
Based on material, the seismic reinforcement materials market is classified into steel, composites, wood and concrete. The composites segment is further segregated into carbon fiber reinforced polymer (CFRP), glass fiber reinforced polymer (GFRP) and other (aramid and hybrid) composites. This segment will witness more than 5% growth rate till 2025 owing to its extensive usage for strengthening applications in concrete and masonry structures such as columns, beams, frames, walls, etc. in form of rebars and sheets or wraps.
Seismic Reinforcement Materials Market, By Product
The seismic reinforcement materials market is categorized into three major products including rebars & rods, columns & beams, sheets & laminates. Other minor segments comprise of anchors, platers and other seismic reinforcement systems. Among these, the rebars & rods captured more than 25% share in 2018, as they are widely used to increase the tensile strength of concrete and masonry structures. The columns & beams segment will grow at a CAGR of more than 3.5% by 2025 as they are essential in framing structures to withstand earthquake loading.
Seismic Reinforcement Materials Industry, By Installation
Based on installation, the seismic reinforcement materials market is classified into two segments including retrofit and new structures. The retrofit segment accounted for more than 15% share and will witness favorable trends in future. This is all due to the enforcement of seismic codes by local government authorities across natural disaster prone areas. The new structures segment will grow at a CAGR more than 3.5% within the forecast period.
Seismic Reinforcement Materials Market, By Application
The key applications of seismic reinforcement materials include roofing, wall & support columns, foundation & flooring, bridges & flyovers. Other application comprises chimneys, silos, etc. In terms of volume, the roofing segment recorded around a tenth of the market in 2018 as earthquake-resistant roofing designs aid in enduring the damages caused by natural events. Bridges & flyovers segment will grow at a CAGR of over 3.5% in future. The seismic retrofitted bridges & flyovers can prevent intensity of disaster and is highly useful in carrying out rescue & relief operations effectively without any disruption.
Seismic Reinforcement Materials Industry, By End-use
Based on end-use, the seismic reinforcement materials market is divided into residential, commercial, industrial and infrastructural sectors. The residential sector seized around 40% share in 2018 and will likely exhibit gains of around CAGR 4% by 2025. Adoption of specialty reinforcement materials for structural applications such as walls, frames, beam, columns, joints, roof structures, etc. Seismic retrofitting techniques are employed to prevent the damages caused by various seismic events and provide safety measures to building occupants.
The infrastructural sector captured around 20% share by 2018 as seismic reinforcement materials are widely used in various transportation infrastructures such as bridges, tunnels, flyovers, etc. Implementation of cutting-edge technology to build these infrastructures will catapult the market demand in upcoming years.
Seismic Reinforcement Materials Market, By Region
North America seismic reinforcement materials market size generated around USD 5.5 billion in 2018. The introduction of strict regulation in the region to increase the awareness about seismic strengthening of building structures. Also, many grants such as seismic retrofit and earthquake grants are being announced to promote seismic retrofitting among public.
Increasing infrastructure development activities in Asia Pacific will drive the regional market and is likely to expand at more than 3.5% CAGR in forecast timeframe. Significant population growth coupled with economy expansion will generate the infrastructural requirements and such trends will augment the market size in future.
Key Players, Recent Developments & Sector Viewpoints: Seismic Reinforcement Materials Market
Some of the major players in seismic reinforcement materials market share are Structural Technologies, LLC, Toray Industries, Inc., Simpson Strong-Tie Company Inc., Sika AG, BASF SE, Aegion Corporation, ArcelorMittal, Tata Steel Limited, Hyundai Steel Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., LafargeHolcim Ltd. and UltraTech Cement Limited. These companies are adopting various strategies such as new product development, merger and acquisition and facility expansion to gain competitive advantage.
Seismic reinforcement materials market is driven by seismic retrofitting measures employed by various residential and commercial buildings. Favorable government regulations and building norms will support the overall market demand over the forecast period. Sociological and economical inhibitions associated with seismic reinforcement techniques may hinder the market growth in coming years
Key Insights Covered: Exhaustive Seismic Reinforcement Materials Market
1. Market size (sales, revenue and growth rate) of Seismic Reinforcement Materials industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Seismic Reinforcement Materials industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Seismic Reinforcement Materials industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Seismic Reinforcement Materials industry.
Research Methodology: Seismic Reinforcement Materials Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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