Global Seismic Reinforcement Materials Market: Overview
Seismic reinforcement materials assist in offering more resistance to seismic activities by helping in the renovation of existing structures. With the escalating need of seismic retrofitting of buildings due to seismic activities witnessed in both rural as well as urban areas, the product has gained immense popularity. The retrofitting methods are employed for residential & commercial complexes that are more prone to tornadoes, cyclones, and severe thunderstorms.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Seismic Reinforcement Materials Market: Growth Factors
The escalating requirement of seismic proof constructions in the regions that fall under the seismic zone or seismic belt of the earth are the key market growth drivers. In addition to this, favorable legislation enforced by the government pertaining to building codes and norms of constructions will encourage the growth of seismic reinforcement materials market. Furthermore, the use of building codes across various regions is likely to prompt the contractors as well as civil engineers to make use of the product during the construction activities. These factors are anticipated to scale up the market size over the ensuing years. Nonetheless, socio-economic inhibitions related to seismic reinforcement methods may pose a threat to the growth of seismic reinforcement materials industry in the near future.
Moreover, today the government is promoting infrastructure rehabilitation ventures in transport, power, and water management sectors on a large scale. This is likely to expand the business scope over the estimated timeline.
Global Seismic Reinforcement Materials Market: Segmentation
The seismic reinforcement materials market can be sectored into material, product, installation, application, and end-use. Based on the material, the industry can be segmented into steel, composites, concrete, and wood. In terms of product, the seismic reinforcement materials market can be segregated into rebars & rods, sheets & laminates, and columns & beams. On the basis of installation, the industry is divided into retrofit and new structures. Application wise, the seismic reinforcement materials industry is divided into roofing, bridges & flyovers, foundation & flooring, and wall & support columns. In end-use terms, the market is classified into infrastructural, residential, industrial, and commercial sectors.
Global Seismic Reinforcement Materials Market: Regional Analysis
Region wise, the seismic reinforcement materials market can be divided into five main regions: North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The seismic reinforcement materials market growth in North America is anticipated to hit scalable heights over the forecast timespan. The regional growth can be attributed to enforcement of stringent laws as a result of massive awareness pertaining to imparting of strength to the buildings falling under the seismic zone or earthquake belt. Apart from this, the government is offering funds for encouraging seismic retrofitting activities among the population.
Moreover, the rise in the infrastructural development &renovation activities in the Asia Pacific zone is projected to steer the market growth in the region. Additionally, substantial inflation in the population of the region is one of the major factors triggering the need for having a robust infrastructural facility, thereby facilitating the regional growth.
Global Seismic Reinforcement Materials Market: Competitive Players
Some of the key participants in seismic reinforcement materials market include Hyundai Steel Company, Tata Steel Limited,ArcelorMittal,Structural Technologies, LLC, BASF SE, West Fraser Timber Company Limited, Aegion Corporation, Toray Industries, Inc., Simpson Strong-Tie Company Inc., Sika AG, Weyerhaeuser Company, LafargeHolcim Limited, and UltraTech Cement Limited.
Global Seismic Reinforcement Materials Market: Regional Segment Analysis
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