Seismic Reinforcement Material Market Growth Analysis | 2023-2028

Market Insights

The Seismic Reinforcement Material Market was estimated at USD 29.54 billion in 2022 and is likely to grow at a CAGR of 4.19% during 2023-2028 to reach USD 37.92 billion in 2028.

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What are seismic reinforcement materials?

Seismic reinforcement materials are bolstered by seismic retrofitting measures as used by various residential and commercial buildings. Favorable government regulations and building norms will support the overall market demand over the forecast period. Sociological and economic inhibitions associated with seismic reinforcement techniques may hinder market growth in the coming years.

Market Dynamics

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.

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Segment Analysis

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 2022 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.

By Installation Type

Based on the installation type, the seismic reinforcement material market is segmented as retrofit and new structures. New structures continue to dominate the 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.

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, beams, columns, roofs, and others.

Regional Insights

In terms of regions, North America is estimated to register healthy growth during the forecast period due to the enforcement of stringent regulations with increased awareness of building strength falling under earthquake belts or seismic zones. Rising infrastructural activities in Asia-Pacific to provide significant opportunities in the coming years.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Material Type

• Steel
• Composites
• Wood
• Concrete

By Product Type

• Rebar & Rod
• Column & Beam
• Sheet & Laminate
• Others

By Application Type

• Roofing
• Wall & Support Column
• Foundation & Flooring
• Bridge & Flyover
• Others

By Installation Type

• Retrofit
• New Structure

By End-Use Industry Type

• Residential
• Commercial
• Industrial
• Infrastructural

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major seismic reinforcement material manufacturers are-

• ArcelorMittal
• Canfor Corporation
• HBIS Group Co., Ltd.
• Hyundai Steel Company
• Jiangsu Shagang Group Co., Ltd.
• LafargeHolcim Ltd.
• Tata Steel Limited
• Toray Industries Inc.
• UltraTech Cement Limited
• Weyerhaeuser Company
• Others.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types by product type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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