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The USGS recorded over 1,550 earthquakes across the globe with Richter scale magnitude more than 5 in 2015, with an estimated number of death of more than 9,600. Rising ecological changes have increased the number of earthquakes over the year. In 2018, over 14,500 earthquakes were recorded globally, of which around 12,700 were marked below 5 on the Richter scale. This mounting rate of earthquakes is expected to escalate the need for seismic reinforcement materials in numerous construction activities, directly augmenting the product industry for the estimated timespan.Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/2100666/?utm_source=marketersmedia.com-SP
Seismic Reinforcement Materials Market will surpass USD 40 billion by 2025; according to a new research report. Rapid rise of seismic events globally due to climate change has resulted in hefty loss of life, property and assets. It is the main reason that influences the growth of the product demand in the market. Seismic reinforcement materials are mainly used in strengthening of buildings and other structures such as masonry, bridges, flyovers, etc. It aids in order to reduce or minimize the impact of damage possibilities during or after natural calamities. Rising awareness of several building regulations across the globe and their implementation at various regions will compel the use of seismic reinforcement materials by many construction companies and contractors. Moreover, growing urbanization and increasing need for renovative projects in developed economies will surge seismic reinforcement materials market in the near future.
Based on material, the product market is segmented into steel, composites, concrete and wood. The steel segment comprises of rebars & rods along with columns & beams. Wood segment is demonstrating a reasonable growth rate of around 4.5% during the forecast timespan.
Seismic reinforcement material market on the basis of product is bifurcated into sheets & laminates, columns & beams, rebars & rods, etc. The sheets & laminates segment registered a market share of over 15% in 2018. Rising importance in providing strength to buildings and structures will propel the product market by 2025.
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On the basis of installation, new structures segment will illustrate a fair growth rate above 4% by 2025 new structures are expected to witness heavy growth due to the growing infrastructure and rehabilitation activities along with housing demands in developed economies.
Based on applications, seismic reinforcement material market is segmented into walls & columns, roofing, foundation & flooring, bridges & flyovers and other, that include silos, chimneys, etc. Foundation & flooring segment accounts for more than 5 billion and shows a reasonable growth rate for the expected timespan.
Seismic reinforcement materials market according to end-use is categorized into industrial, residential, infrastructure and commercial construction. The industrial sector holds nearly 12% of overall market share, with several initiatives taken by governments to promote safe and strong infrastructure, which is projected to fuel the seismic reinforcement materials market in the forecast timeframe.
North America will demonstrate exceptional growth rate for more than 3.5% in the projected timespan. The region is prone to natural calamities and with strict regulation to adhere building codes will further strengthen the product demand in the region.
Some of major players in seismic reinforcement materials market are Simpson Strong-Tie Inc., Hyundai Steel Co., Toray Industries, LafargeHolcim Ltd., ArcelorMittal, West Fraser Timber Co., BASF, Tata Steel, Aegion Corp., UltraTech Cement and Weyerhaeuser.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Seismic Reinforcement Materials Industry Insights
Chapter 4. Seismic Reinforcement Materials Market, Material By Product
Chapter 5. Seismic Reinforcement Materials Market, By Product
Chapter 6. Seismic Reinforcement Materials Market, By Application
Chapter 7. Seismic Reinforcement Materials Market, By Installation
Chapter 8. Seismic Reinforcement Materials Market, By End-use Sector
Chapter 9. Seismic Reinforcement Materials Market, By Region
Chapter 10. Seismic Reinforcement Materials Market Company Profiles
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