February 18, 2020
According to the latest research report titled ‘Seismic Reinforcement Materials Market Size By Material (Steel, Composites [CFRP, GFRP], Wood, Concrete), By Product (Rebars & Rods, Columns & Beams, Sheets & Laminates), By Installation (Retrofit, New Structures), By Application (Roofing, Wall & Support Columns, Foundation & Flooring, Bridges & Flyovers),By End-Use (Residential, Commercial, Industrial, Infrastructural), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, Italy, Romania, Ukraine, Greece, China, India, Japan, Thailand, Indonesia, Malaysia, South Korea, Brazil, Mexico, Peru, Turkey, South Africa, Saudi Arabia, Turkey, Iran), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global seismic reinforcement materials market size is slated to exceed US $40 billion by the year 2025.
According to the report, growing significance of seismic reinforcement materials has been attributed to overarching loss of life, assets, and property owing to rising prevalence of seismic events. These materials are used in buildings and other structures, including flyovers, bridges, and masonry to help in dissipating the potential repercussions of damage during or after natural calamities. Implementation of building regulations is testimony to the fact that construction companies are prevalently including seismic reinforcement materials in their portfolios, which in turn is favoring the market outlook.
Based on product, sheets & laminates segment of seismic reinforcement materials market held over 15% share in 2018, thereby exhibiting favorable industry forecast by 2025. Traction towards augmenting the strength of building and structures is said to further the popularity of sheets & laminates.
In terms of material, the wood segment is expected to grow steadily at a CAGR of 4.5% through 2025. The material taxonomy of the industry is segmented into steel, concrete, composites, and wood.
With respect to installation, new structures segment is expected to grow with a CAGR of 4% through 2025. The growth forecast comes in the wake of expanding infrastructure and rehabilitation activities, along with surging housing demands in advanced economies.
As per applications, foundation & flooring segment is slated to underscore the industry size expansion during the assessment period 2019-2025. It is worth mentioning that rising adoption of seismic reinforcement materials for foundation & flooring is anticipated to be more apparent in the next five years. Under the application taxonomy, seismic reinforcement materials market is segmented into foundation & flooring, wall & support columns, roofing, bridges & flyovers.
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Based on end-use scope, industrial sector is poised to be the major consumer of seismic reinforcement materials market. Underpinned by favorable government initiatives to boost safe and strong infrastructure, the industry segment accounted for 12% of overall market share in 2018.
On the geographical front, North America seismic reinforcement materials market will expand moderately at a growth rate of over 3.5% through 2025. Some of the factors such as rigorous regulations to comply with building codes and the region being vulnerable to natural disasters have accentuated the popularity of seismic reinforcement materials in the region.
Some of the prominent players of seismic reinforcement materials market delineated in the report are BASF, Hyundai Steel Co., Tata Steel, UltraTech Cement, Simpson Strong-Tie, Inc., West Fraser Timber Co., Toray Industries, Weyerhaeuser, Aegion Corp., LafargeHolcim Ltd., and ArcelorMittal.
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