Seismic Reinforcement Materials Market growth outlook with industry review and forecast 2019-2025
On the basis of material, the
seismic reinforcement materials market is segmented into composites, steel,
concrete and wood. The composites segment comprises of carbon fiber reinforced
polymers, glass fiber reinforced polymers and other (aramid or hybrid) composites.
Steel segment will be worth about 19 billion, exhibiting decent growth rate
over the forecast time period due to its extensive usage as a reinforcement
material in form of rebars, beams, columns, etc.
Seismic Reinforcement Materials Market Size will
surpass USD 40 billion by 2025; according to a new research report by Global
Market Insights, Inc. Increasing seismic
activities across the globe resulting in loss of life and assets is the prime
reason influencing the growth of seismic reinforcement materials market. The
products are majorly used in buildings to strengthen the structures in order to
minimize damage possibilities during or after earthquakes. Increasing awareness
and implementation of various building codes across the globe will compel the
engineers and contractors to use seismic reinforcement materials, thus
catapulting the overall product demand. Increasing urbanization and rising
demand for renovation projects in developed economies are also contributing for
product market growth.
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According to United States Geological Survey (USGS)
in year 2015 around 1,565 earthquakes ranging from 5 to more than 8 on Richter
magnitude scale had caused the death of around 9,600 people worldwide. The
number of earthquakes is increasing with each passing year as in 2018 more than
1,800 earthquakes were recorded. This will upscale the seismic reinforcement
materials market over forecast timeframe.
Based on product, the seismic reinforcement material
market is bifurcated into columns & beams, rebars & rods, sheets &
laminates & others. The others segment includes the anchors, plates and
other reinforcement systems. The column & beam segment will hold sway the
market showing an annual growth rate of over 4% from 2019 to 2025 due to its
importance in providing structural strength to buildings.
On installation basis, retrofit segment shows a
decent growth rate of around 4% over forecast timeframe due to increasing
housing demand and infrastructure rehabilitation activities in developed
nations.
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Seismic reinforcement materials have applications in
roofing, walls & columns, bridges & flyovers, foundation & flooring
and other areas which include chimneys, silos, etc. Among this the bridges
& flyover segment accounts almost 4 billion and shows a fair growth rate
from 2018 to 2025 owing to increasing investment in infrastructure sector of
developing economies.
On the basis of end-use the seismic reinforcement
materials market categorized into residential, industrial, commercial and
infrastructure. The residential sector holds around 30% of the overall market,
with initiatives taken by governments to implement building codes for new
residential buildings the sector is expected to show promising growth rate over
forecast timeframe.
Asia Pacific region will dominate the market with
more than 60% of the global share in 2025. A long list of earthquake prone
countries in the region such as China, India, Indonesia, Thailand, Philippines,
etc. will further strengthen the regional demand. Increasing population and
urbanization trend will further give an up thrust to seismic reinforcement
materials market in region.
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Some of prominent players in seismic reinforcement
materials market share are Hyundai Steel Company, Simpson Strong-Tie Company
Inc., Toray Industries, Inc., ArcelorMittal, LafargeHolcim Ltd., West Fraser
Timber Co. Ltd., Tata Steel Limited, BASF SE, Aegion Corporation, Weyerhaeuser
Company, UltraTech Cement Limited, etc.
About Global Market Insights:
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Seismic Reinforcement Materials Market growth outlook with industry review and forecast 2019-2025
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June 11, 2019
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