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
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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.
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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
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