The Seismic Reinforcement Material Market is expected to grow at > 4.4% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Seismic Reinforcement Material Market
Seismic Reinforcement Material Market is likely to witness a healthy CAGR of 4.4% during the forecast period. The prime factor that is contributing to the demand for seismic reinforcement materials is the increasing need for seismic-proof buildings in earthquake prone regions. Rising urbanization and increasing need for infrastructure rehabilitation to boost the seismic reinforcement materials demand during the forecast period.
North America is estimated to register healthy growth during the forecast period due to the enforcement of stringent regulations with increased awareness on building’s strength falling under earthquake belt or seismic zone. Rising infrastructural activities in Asia-Pacific to provide significant opportunities in the coming years.
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Market Scope & Market Segmentation
Seismic Reinforcement Material Market Share: By Product Type
Based on the product type, the market is segmented as rebar & rod, column & beam, sheet & laminate, and others. Rebar & rod held the largest share of the market in 2020, and are expected to remain dominant during the forecast period. They are widely used to increase the tensile strength of concrete and masonry structures and are essential in framing structures to withstand earthquake loading.
Seismic Reinforcement Material Market Share: By Installation Type
Based on the installation type, the seismic reinforcement material market is segmented as retrofit and new structure. New structures to continue to dominate the seismic reinforcement material market. However, retrofit which accounts for a smaller share is expected to register higher growth during the forecast period due to the enforcement of seismic codes by local government authorities in earthquake prone areas.
Seismic Reinforcement Material Market Share: By End-Use Industry Type
Based on the end-use industry type, the seismic reinforcement material market is segmented as residential, commercial, industrial, and infrastructural. The residential segment accounted for the largest share and is expected to drive the demand for seismic reinforcement material over the forecast period due to the adoption of these materials in structural applications such as walls, frames, joints, beam, column, roof, and others.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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