Seismic Reinforcement Materials Market: Overview
- Seismic reinforcement materials are materials that are used to facilitate reinforcing or strengthening of a building or structure at the time of hazardous weather activities such as earthquakes, magma movement, volcanic eruptions, and landslides. Seismic reinforcement materials offer resistance to seismic activities and help in protection of the existing structures.
- Seismic reinforcement materials strengthen mechanical properties of a framework. They are more grounded and stiffer than the framework. Furthermore, in order to improve physical properties of the composite material, seismic reinforcement materials are added to the framework material.
- With seismic activities witnessed in rural as well as urban areas, the need for seismic retrofitting of buildings is rising significantly. Thus, seismic reinforcement materials are gaining increasing adoption. Universal Building Code (IBC), International Residential Code (IRC), and International Existing Building Code (IEBC) are some of the governing bodies that look after the arrangement of seismic codes and their implementation by government bodies.
- The method of retrofitting is implemented in residential and commercial complexes, which are more prone to weather activities such as earthquakes, tornadoes, cyclones, and thunderstorms
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Key Drivers and Restraints of Global Seismic Reinforcement Materials Market
- The number of private enterprises utilizing seismic retrofitting measures is increasing at a significant pace. This, in turn, is driving the demand for seismic reinforcement materials worldwide.
- Regions that come under the seismic zone or seismic belt of the earth witness increasing demand for earthquake-proof constructions. In addition, favorable government legislations pertaining to the building & construction sector are likely to drive the global seismic reinforcement materials market during the forecast period.
- Initiatives by governments to promote infrastructure rehabilitation in transportation, power, and water management sectors on a large scale are anticipated to have a positive impact on the global seismic reinforcement materials market during the forecast period
- As per the United States Geological Survey, the total number of earthquakes was 1,566 worldwide in 2017 and it rose to 1,808 in 2018. Use of seismic reinforcement materials as a preventive measure to earthquakes is growing notably. This is anticipated to drive the global seismic reinforcement materials market in the next few years.
- Sociological factors and high costs associated with seismic reinforcement systems are projected to hinder the global market in the next few years.
North America and Asia Pacific to Dominate Global Seismic Reinforcement Materials Market
- In terms of region, the global seismic reinforcement materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Asia Pacific are expected to be key regions of the global seismic reinforcement materials market between 2019 and 2027.
- Owing to enforcement of stringent laws by governing bodies as a result of rising awareness about imparting strength to buildings coming under the seismic zone or belt, North America is anticipated to hold a major share of the global seismic reinforcement materials market during the forecast period.
- Asia Pacific has been experiencing high rate of urbanization, development of infrastructure, and increase in population over the last few years. Demand for seismic reinforcement materials has been high in developing countries of Asia Pacific, including India and China, due to rise in the number of construction and infrastructure development projects taken up by governments, increase in urbanization, and improvement in the standards of living of people in these countries.
Expanding operations in future? To get the perfect launch ask for a custom report
Key Manufacturers Operating in Global Market
The global seismic reinforcement materials market was highly fragmented in 2019. Major players have prominent presence in the market in developing countries. Key manufacturers operating in the global market are:
- Structural Technologies LLC
- Toray Industries Inc.
- Sika AG
- Simpson Strong-Tie Company Inc.
- Aegion Corporation
- BASF SE
- Pultrall Inc.
- Tuf-Bar Inc.
- Arc Insulations & Insulators (P) Ltd.
- Tata Steel Limited
- Hyundai Steel Company
- HBIS Group Co. Ltd.
- Jiangsu Shagang Group Co. Ltd.
- Weyerhaeuser Company
- West Fraser Timber Co. Ltd.
- Canfor Corporation
- ACC Limited
- UltraTech Cement Limited
- LafargeHolcim Ltd.
Global Seismic Reinforcement Materials Market: Research Scope
Global Seismic Reinforcement Materials Market, by Material
- Carbon Fiber Reinforced Polymers (CFRPs)
- Glass Fiber Reinforced Polymers (GFRPs)
- Others (Including Aramid & Hybrid Composites)
Global Seismic Reinforcement Materials Market, by Product
- Rebars & Rods
- Columns & Beams
- Sheets & Laminates
- Others (Including Anchors and Platers)
Global Seismic Reinforcement Materials Market, by Installation
- New Structures
Global Seismic Reinforcement Materials Market, by End-use Industry
Global Seismic Reinforcement Materials Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.