Seismic Reinforcement Materials Market Global Industry Trends, Growth Forecast Report By 2020-2025

A research conducted by Global Market Insights, Inc., has estimated that the global seismic reinforcement materials market size will exceed USD 40 billion by 2025.

The global seismic reinforcement market is expected to gain commendable proceeds by 2025 owing to the escalating need for improved reinforcement materials in the construction sector, driven by the frequent occurrences of natural calamities worldwide. In recent times, there has been an increasing awareness about numerous building regulations and their implementation in the construction sector worldwide, which is most likely to impel the use of quality seismic reinforcement materials by companies and contractors in the upcoming years.

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Recognizing the need for safe infrastructure requirements, governments across the globe have been employing different strategies to assess the seismic resistance of building materials used in their countries. For instance, Russia has lately conducted seismic resistance tests to assess the strength of sections of brick buildings having conventional type construction against those retrofitted by FibreArm carbon tape SRS. The test notably involved 6 dynamic impacts of 6-9-point intensity forced on to the sample structures and its results have effectively helped to formulate regulations suited to desired seismic resistance.

How is the wood material segment expected to fare during the forecast period?

The seismic reinforcement materials market has been divided into concrete, composites, steel, and wood on the basis of materials. As per estimates, wood segment is expected to register a growth rate of around 4.5 per cent during 2019-2025.

Which factors will propel seismic reinforcement material industry share from industrial segment?

In terms of the end-use spectrum, this market is classified into the industrial, infrastructural, residential and commercial construction divisions. Of these, the industrial segment presently accounts for up to 12 per cent of the total market share. This can be credited to the numerous initiatives taken by regional governments in order to ensure the maintenance of a safe and strong infrastructure across the industrial sector.

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Why is North America expected to show exceptional growth during the forecast period?

North America is highly prone to natural calamities such as earthquakes. As per USGS, the biggest earthquake in the United States occurred on July 27 2015, with a magnitude 6.9, in Alaska. In the central United States, 32 earthquakes had occurred in the same year, with a magnitude 4.0 and greater across Texas, Kansas, and Oklahoma. In the face of such a scenario, regional construction structures are expected to be rather strong, highly durable, and earthquake resistant. Consequently, this brings forth the requirement of high quality seismic reinforcement materials in construction.

As per estimates, North America seismic reinforcement materials market is expected to witness a remarkable growth rate of more than 3.5 per cent in the projected timespan. Moreover, governments in the region have formulated stringent regulations that ensure adherence to building codes, that will further strengthen the product demand.

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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.