Increased demand for sheets & laminates to fuel Seismic Reinforcement Materials Market forecast

Gradual surge in seismic activities is driving seismic reinforcement materials market share, as these calamities lead to heavy loss of life and properties across the globe. Seismic reinforcement materials are primarily used to strengthen building structures like flyovers, masonry, bridges, and buildings, as they help minimize any possibilities of damage either during or after the earthquakes.

Rise in the implementation of awareness programs regarding several building codes worldwide has induced the utilization of seismic reinforcement materials by both contractors and engineers, propelling the product demand. Rapid urbanization along with growing renovation demand in the developed countries will considerably boost infrastructure spending.

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As per the United States Geological Survey (USGS), nearly 1,565 earthquakes with a magnitude scale from 5 to more than 8 had caused 9,600 deaths around the world in 2015. Over 1,800 earthquakes had been recorded in 2018 as the number has been gradually increasing with every passing year. The consistent occurrence of this natural disaster will upsurge seismic reinforcement materials industry forecast over the projected timeframe.

The seismic reinforcement material products have been categorized into columns & beams, sheets & laminates, rebars & rods, among others. Sheets & laminates product segment had accounted for more than 15% of total market share in the year 2018. Emphasis on materials offering strength to building structures will fuel the demand for the product and influence the business outlook.

Seismic reinforcement material industry size from new structure installations will exhibit a significant growth rate of more than 4% between 2019-2025. This is majorly attributed to increase in the demand for housing as well as increasing rehabilitation and infrastructure activities in the developed nations. Growing need for residential complexes to cater to increasing global population provide impetus to seismic reinforcement materials market outlook.

Demand for seismic reinforcement products has accelerated from consistent development of bridges & flyovers, walls & columns, foundation & flooring, roofing and several other applications that also include chimneys and silos. Foundation & flooring under the application segment contributes over 5 billion in revenues and will exhibit a healthy rate of growth.

Seismic reinforcement materials businesses according to the end-use is segmented into commercial, infrastructure, industrial and residential sectors. The residential sector accounts for nearly 30% of the revenue worldwide. Governments have taken major initiatives for the implementation of building regulations on residential buildings, which will result in favorable growth rate over the study period.

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Asia Pacific seismic reinforcement materials market size is anticipated to account for over 60% of the global share by 2025. Countries like Indonesia, China, Philippines, India and Thailand in this region have areas substantially prone to earthquakes and will help bolster the product demand. Booming population has resulted in rapid urbanization which will help propel seismic reinforcement materials industry trends in the region.

Competition across seismic reinforcement materials market is fragmented with prominent industry players like Simpson Strong-Tie Company Inc., ArcelorMittal, West Fraser Timber Co. Ltd., Aegion Corporation, UltraTech Cement Limited, Hyundai Steel company and LafargeHolcim Ltd., among others. They are involved in increasing production capacities and distribution of products to bolster portfolio and expand consumer reach.

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