Seismic Reinforcement Materials Market Trend, Share, Growth, Size Analysis and Forecast 2030

Seismic Reinforcement Materials Market

Seismic Reinforcement Materials Market By Material Type (Steel, Wood, Composites, and Concrete), By Product (Rebar & Rod, Sheet & Laminate, Column & Beam, and Others), By Application (Roofing, Wall & Support Column, Flooring & Foundation, Bridge & Flyover, and Others), By Installation Type (Retrofit and New Structures), By End-Use (Residential, Industrial, and Commercial), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

Category: Chemical & Materials Report Format : PDF Pages: 208 Report Code: ZMR-4269 Published Date: Apr-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 10 Billion USD 16 Billion 5.2% 2022

 

Seismic Reinforcement Materials Market

Industry Perspective:

The global seismic reinforcement materials market size was evaluated at $10 Billion in 2022 and is slated to hit $16 Billion by the end of 2030 with a CAGR of nearly 5.2% between 2023 and 2030. The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The seismic reinforcement materials market report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

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Seismic Reinforcement Materials Market: Overview

Seismic reinforcement materials help in providing high resistance to seismic activities by assisting in the refurbishment of current structures. With the humungous need for seismic retrofitting of buildings as a result of seismic activities experienced in rural as well as urban areas, the demand for seismic reinforcement materials is gaining traction. Furthermore, retrofitting methods and seismic reinforcement materials are used in the construction of residential & commercial buildings as they are more susceptible to cyclones, tornadoes, and severe thunderstorms.

Key Insights

  • As per the analysis shared by our research analyst, the global seismic reinforcement materials market is projected to expand annually at the annual growth rate of around 5.2% over the forecast timespan (2023-2030)
  • In terms of revenue, the global seismic reinforcement materials market was evaluated at nearly $10 billion in 2022 and is expected to reach $16 billion by 2030.
  • The global seismic reinforcement materials market is anticipated to record massive growth over the forecast period owing to the burgeoning requirement for seismic-proof constructions in earthquake-prone regions.
  • Based on material type, the composites segment is predicted to register the highest CAGR during the forecast timeline.
  • In terms of application, the bridge & flyover segment is slated to record the fastest CAGR over 2023-2030.
  • On basis of product, the rebar & rod segment is projected to dominate the global market share during the assessment period.
  • In terms of end-use, the residential segment is expected to register major gains over 2023-2030.
  • Based on installation type, the retrofit segment is slated to lead the installation type landscape over the next eight years.
  • Region-wise, the North American seismic reinforcement materials market is projected to account for the highest growth during the assessment period.

Global Seismic Reinforcement Materials MarketRequest Free Sample

Seismic Reinforcement Materials Market: Growth Factors

Escalating demand for earthquake-resistant materials to boost the global market trends

The burgeoning requirement for seismic-proof constructions in earthquake-prone regions is a key factor driving the growth of the seismic reinforcement materials market across the globe. The use of building codes in various regions has forced engineers and contractors to use seismic reinforcement materials in buildings, thereby shaping the demand for seismic reinforcement materials. With the increase in urbanization, there is an increase in infrastructure rehabilitation activity across transportation, energy, and water management sectors, thereby boosting the global seismic reinforcement materials market trends.

As per the U.S. geological survey, the total number of earthquakes across the globe numbered nearly 1,567 in 2017 and about 1,809 in 2018. Reportedly, the surge in the earthquakes was a result of the earth’s rotation triggering seismic activities in tropical countries. Moreover, in the near future, it is likely that there can be a rise in earthquakes as a result of the rotation of the earth. All these aforementioned factors can accentuate the growth of the global seismic reinforcement materials market in the upcoming years.

Seismic Reinforcement Materials Market: Hindrances

Low awareness regarding the benefits of the use of earthquake-resistant materials to impede the global industry growth 

Less awareness regarding the need for earthquake-resistant residential and commercial constructions among the people can hinder the global seismic reinforcement materials industry surge.

Seismic Reinforcement Materials Market: Opportunities

Favorable government laws pertaining to product application to open new vistas of growth for the global market  

Legislations favoring product use in construction activities due to the rise in the number of earthquakes witnessed globally will open new facets of growth for the global seismic reinforcement materials market. Launching infrastructural development ventures in developing regions will help the market explore new growth dimensions in the coming decade. In addition to this, the thriving construction sector in the BRICS region will prompt the growth of the seismic reinforcement materials business in the coming years.

Seismic Reinforcement Materials Market: Challenges

A surge in the alternative products along with an increase in raw material costs to be a major hurdle in the global industry expansion

An increase in substitute products and a rise in raw material costs will prove to be the highest challenge in the growth path of the global seismic reinforcement materials industry in the upcoming years.

Seismic Reinforcement Materials Market: Segmentation

The global seismic reinforcement materials market is sectored into the material type, product, application, installation type, end-use, and region.

In terms of material type, the global seismic reinforcement materials market is divided into steel, wood, composites, and concrete segments. Furthermore, the composites segment, which contributed a major share of the global market in 2022, is projected to record the highest CAGR over the anticipated timespan. The segmental expansion during the forecast timeline can be owing to the large-scale use of composites in concrete and masonry structures including walls, columns, frames, and beams.

Based on the product, the global seismic reinforcement materials industry is bifurcated into rebar & rod, sheet & laminate, column & beam, and others. Furthermore, the rebar & rod segment, which contributed more than one-fourth of the global industry share in 2022, is anticipated to lead the product landscape during the projected timeframe. Additionally, the growth of the segment over the assessment period can be owing to its extensive application in construction as a result of its high tensile strength.

On basis of installation type, the global seismic reinforcement materials market globally is sectored into new structures and retrofit segments. Moreover, the retrofit segment, which contributed nearly half of the global market share in 2022, is predicted to account for the major market share during the assessment period. The segmental growth can be due to the use of building codes by regional authorities for building structures in earthquake-prone regions.

In terms of application, the global seismic reinforcement materials industry is segmented into flooring & foundation, roofing, bridge & flyover, wall & support column, and others segments. The bridge & flyover segment is slated to register the fastest CAGR over 2023-2030. The segmental expansion can be attributed to the ability of seismic retrofit bridges and flyovers in the prevention of disasters caused to them due to natural calamities such as earthquakes and floods.

On basis of the end-use, the global seismic reinforcement materials market is divided into industrial, residential, and commercial segments. The residential segment, which accounted for more than 45% of the global industry share in 2022, is predicted to record major gains in the ensuing years. The growth of the segment during the forecasting period can be due to large-scale penetration of the product in beams, walls, roof structures, frames, and columns.

 Recent Breakthroughs

  • In the second half of 2021, researchers at IIT Roorkee In India discovered that thermocol can be used as a key component for constructing earthquake-resisting buildings with thermal insulation. Such discoveries will increase the popularity and demand for seismic reinforcement material in India and across the globe.
  • In the third quarter of 2017, researchers at the University of British Columbia, found seismic-resistant fiber-reinforced concrete that can be used in buildings to make them earthquake resistant. Reportedly, the cementitious concrete will be sprayed on the masonry walls of the buildings so that they can endure earthquakes of more than 9.0 magnitude. The move will boost the demand for seismic retrofitting materials across the globe, thereby boosting product penetration in the construction industry.

Seismic Reinforcement Materials Market: Report Scope:

Report Attributes Report Details
Report Name Seismic Reinforcement Materials Market Research Report
Market Size in 2022 USD 10 Billion
Market Forecast in 2030 USD 16 Billion
Growth Rate CAGR of 5.2%
Number of Pages 208
Key Companies Covered BASF SE, Toray Industries, Inc., Aegion Corporation, Hyundai Steel Company, Sika AG, Arcelor Mittal, Structural Technologies, LLC, West Fraser Timber Company Limited, Simpson Strong-Tie Company Inc., Weyerhaeuser Company, The Holcim Group, Tata Steel Limited, and UltraTech Cement Limited.
Segments Covered By Material Type, By Application, By Product, By Installation Type, By End-Use, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Seismic Reinforcement Materials Market: Regional Insights

North America to make notable contributions toward the global seismic reinforcement materials market share by 2030

North America accounted for 65% of the global seismic reinforcement materials market share in 2022. It is anticipated to dominate the global market during the forecast timeline. The regional market expansion can be attributed to growing awareness about the benefits accrued due to the use of seismic reinforcement materials in buildings. Additionally, the governments in emerging as well as developed economies are investing in the production of seismic reinforcement materials as well as research & development activities and this initiative will provide impetus to the growth of the market in the region. 

On the other hand, the Asia-Pacific seismic reinforcement materials industry is predicted to register the highest CAGR of 7.1 % in the ensuing years. The regional market growth can be credited to the increase in infrastructural development projects in the countries such as India and China. Apart from this, surging renovation activities will boost regional market trends.

Seismic Reinforcement Materials Market: Competitive Space

The seismic reinforcement materials market profiles key players such as:

  • BASF SE
  • Toray Industries Inc.
  • Aegion Corporation
  • Hyundai Steel Company
  • Sika AG
  • Arcelor Mittal
  • Structural Technologies LLC
  • West Fraser Timber Company Limited
  • Simpson Strong-Tie Company Inc.
  • Weyerhaeuser Company
  • The Holcim Group
  • Tata Steel Limited
  • UltraTech Cement Limited.

The global seismic reinforcement materials market is segmented as follows:

By Material Type

  • Steel
  • Wood
  • Composites
  • Concrete

 By Application

  • Roofing
  • Wall & Support Column
  • Flooring & Foundation
  • Bridge & Flyover
  • Others

By Product

  • Rebar & Rod
  • Sheet & Laminate
  • Column & Beam
  • Others

By Installation Type

  • Retrofit
  • New Structures

By End-Use

  • Residential
  • Industrial
  • Commercial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
 

Table Of Content

Methodology

FrequentlyAsked Questions

Seismic reinforcement materials help in providing high resistance to seismic activities by assisting in the refurbishment of current structures. With the humungous need for seismic retrofitting of buildings as a result of seismic activities experienced in rural as well as urban areas, the demand for seismic reinforcement materials is gaining traction.   

The global seismic reinforcement materials market is projected to expand over 2023-2030 with the increase in urbanization, there is an increase in infrastructure rehabilitation activity across the transportation, energy, and water management sector.

According to study, the global seismic reinforcement materials market size was $10 billion in 2022 and is projected to reach $16 billion by the end of 2030.

The global seismic reinforcement materials market is anticipated to record a CAGR of nearly 5.2% from 2023 to 2030.

The North American seismic reinforcement materials industry is set to account for a major share of the global industry in the upcoming years subject to growing awareness about the benefits accrued due to the use of seismic reinforcement materials in buildings. Additionally, the governments in emerging as well as developed economies are investing in the production of seismic reinforcement materials as well as research & development activities and this initiative will provide impetus to the growth of the market in the region. 

The global seismic reinforcement materials market is led by industry players such as BASF SE, Toray Industries, Inc., Aegion Corporation, Hyundai Steel Company, Sika AG, Arcelor Mittal, Structural Technologies, LLC, West Fraser Timber Company Limited, Simpson Strong-Tie Company Inc., Weyerhaeuser Company, The Holcim Group, Tata Steel Limited, and UltraTech Cement Limited. 

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