Bulk & Specialty Chemicals

APAC beverage container market to record massive growth between 2019-2025

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Growing consumption of products like soft drinks, bottled water, milk and alcohol will drive beverage container market. Beverage containers offer enhanced protection against external environmental factors and help in preserving a product’s flavor and aroma for a longer duration of time. Growing use of single-serve containers, rising disposable incomes and enhanced standards of living are augmenting the demand for small plastic and glass beverage containers across the globe.

Technological advancements and automation in the packaging industry have offered manufacturers lower production costs and reduced wastage, further helping promote productivity. In addition, growing consumption of hard and soft drinks has enhanced the production of beverage containers, fostering beverage container market size.

North America Beverage Container Market, By Material, 2018 & 2025, (USD Billon)
North America Beverage Container Market, By Material, 2018 & 2025, (USD Billon)

With rising efforts to curb plastic use worldwide, manufacturers are increasingly shifting towards alternate packaging materials like glass and aluminum. Indeed, aluminum containers offer some of the best beneficial characteristics to the beverage industry.

Aluminum enables designers and manufacturers to develop premium looking container segments which weigh less, are easier to handle and less expensive to ship. The material can easily be recycled without any quality degradation. With container products like beverage cans, bottles and more, aluminum offers an unmatched combination of high strength and corrosion resistance.

The superior feel and look of aluminum also creates a great impression of product quality that is unmatched by other packaging materials. Increasing number of beverage companies adopting lighter aluminum cans for upcoming product segments will drive metal beverage container market outlook.

Glass containers have also emerged as a safe choice in the beverage container industry. The product boasts of almost zero chemical interactions, ensuring contained aroma, strength and flavor of drinkables. It can be recycled endlessly without loss in purity or quality. Glass cullet is increasingly used in the recycling process as it greatly reduces energy consumption in a furnace.

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The alcohol packaging industry acts as a key end-user for glass beverage containers. Reports suggest that clear cullet, on the basis of revenue, will account for around 60% of the global recycled glass industry by 2025. Incidentally, recycled glass market size is estimated to surpass USD 4.4 billion by the end of the aforementioned period, claim reports from Global Market Insights, Inc.

Asia Pacific beverage containers market will register substantial growth between 2019 and 2025. India has a massive market for beverages and packed fruit juices, water and dairy products. Alcoholic products like beer and liquors also contribute towards growth of the regional market share.

Presence of national and international brands in the country has propelled beverage container industry over the past decade. Among all the leading brands, Coca-Cola has accounted for a major beverage container market share as it occupies around 60% of the carbonated drink sector in the Indian beverage industry. Meanwhile, Nestle India Ltd. has accounted for 61.85% of total Nestle S.A. Switzerland business.

Due to rapidly growing population and low recorded rainfalls, the demand for packaged drinking water has been also propelled significantly in the past couple of years. In fact, the Asian Development Bank has forecast that by 2030, India will have a water deficit of 50%.

In 2019, locals in Chennai had to rely completely on packaged drinking water as the Porur Lake in town dried up. With soaring water scarcity, India’s packaged drinking water market will procure significant demand, fostering beverage container market size in the region.

The beverage container market is driven by growing demand for packaged drinks across the globe. Rapid technological advancement in the packaging industry and efforts to curb plastic use has fostered the use of glass and metal containers. Reliable reports estimate beverage containers market to exceed USD 250 billion by 2025.

Author NameMateen Dalal

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Increasing airborne diseases to accelerate erdosteine market share

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The rise in air pollution owing to the increasing industrialization and urbanization along with growing smoking habits among the people has had a notable impact on erdosteine market share. Erdosteine is basically a mucolytic and has the ability to breakdown mucus which causes chronic obstructive bronchitis.

U.S. Erdosteine Market Size, By Application, 2018 & 2025, (Tons)
U.S. Erdosteine Market Size, By Application, 2018 & 2025, (Tons)

Increasing content of fumes, vapors, dust, tobacco smoke in the atmosphere damages lungs and airway tissues after exposure to these substances. Taking into account the severity associated with such chronic diseases, many health organizations, pharmaceutical companies, and medical research institutes have been involved in technological innovation that will enhance erdosteine industry outlook over the coming years.

In the last few years, air pollution level has increased tremendously worldwide and has proved to be severely dangerous to human health. As per the World Health Organization (WHO) in 2018, around 9 out of 10 people breathe air that contains high-level air pollutants. It further claimed that every year nearly 7 million people are estimated to lose their lives annually due to household and ambient air pollution. More than 40% population of the world does not get clean cooking technologies and fuel in their homes – leading to household air pollution. This will further increase erdosteine demand in the years to come.

In the low and middle-income countries across Africa and Asia, over 90% deaths occur due to air-pollution related diseases. Since the last few decades, WHO has been monitoring air pollution levels across sub-Saharan Africa to tabulate the data regarding the use of technologies to curb air pollution. In this regard, growing awareness among the regional governments about the need for sustainable development is likely to strengthen erdosteine market size.

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In line with the air pollution control activities, the ongoing development of mucus regulating medicines across the globe will further generate lucrative business opportunities for the players in erdosteine industry. The consistent development of drug formulas to treat diseases caused by air contamination will drive the erdosteine market share over the coming years.

Surging pollution levels and increasing tobacco smoke are the two major concerns troubling the U.S. federal government. In order to target these concerns, the U.S. government has been striving to implement strict regulatory policies through organizations like FDA. The laws are framed to ensure fairness between health-regulated sectors and safeguard public health. Aided by a supportive regulatory spectrum, pharmaceutical companies have been introducing cost-effective and efficient medicines in the market. Proliferating availability of flexible and affordable medicines is slated to impel U.S. erdosteine industry trends.

Recently, WHO found that the tobacco epidemic is one of the largest public health threats causing the death of over 8 million people every year. Out of those, nearly 7 million deaths are the result of direct consumption of tobacco and 1.2 million deaths are the result of passive or non-direct smoking. Across the globe, only 37 countries, that account for 15% of the world’s population have completely banned all forms of promotion, advertising, and sponsorship for tobacco. High tobacco taxes and growing demand for cigarettes and tobacco products have thus been augmenting erdosteine market size.

Over the last few years, due to an outburst of airway and systemic inflammation cases, several research organizations have been working to evaluate the usage of erdosteine in exacerbations of COPD. They have been also focusing on the development of highly effective medicines causing low-side effects to the patients. Thus, growing demand for medicines with high clinical benefits and lesser aftereffect will further enhance erdosteine industry outlook.

Taking into account the growing involvement of biggies in new product development along with increasing awareness among the people about active medication, Global Market Insights, Inc., estimates that by the end of 2025, worldwide erdosteine market will generate a revenue of more than USD 150 million.

The increasing importance of erdosteine for preventing recurrence of exacerbation of COPD patients will accelerate the product demand over the years ahead. Alarming level of air pollution and its hazardous impact on the living organisms across the globe will create new opportunities for the pharmaceutical companies including Alitair Pharmaceuticals, Taj Pharmaceuticals, Hanmi Pharmaceuticals, and Delta Finochem.

Author NameSunil Hebbalkar

Rising demand in modern flooring & waterproofing construction projects to drive APAC rotomoulding powder market

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Owing to a rising demand for numerous plastic products during construction activities, Asia Pacific rotomoulding powder market has gained immense traction in recent years. Products made from rotational moulding process, also known as rotomoulding, encompass a wide range of applications including storage tanks in residential, agricultural and commercial sectors as well as industrial equipment.

Asia Pacific Rotomoulding Powder Market, By Material, 2017 & 2024 (USD Million)

Asia Pacific Rotomoulding Powder Market, By Material, 2017 & 2024 (USD Million)

Foreseeing an increased demand for rotomoulded products, rotomoulding powder manufacturers are offering a variety of polyethylene and polypropylene materials to meet the demand for high-quality plastic parts and equipment.

With a slew of material suppliers and molders present across Asia Pacific, the region continues to drive the development of cutting-edge technology for producing various aesthetic and industrial products. Realization among manufacturers that novel eco-friendly materials can now be produced has created new opportunities for APAC rotomoulding power industry.

A prominent study reveals that currently, major industries in APAC are heavily dependent on Polyethylene (PE) composites and most of the rotomoulded products are made from this material, as it is an easily mouldable, versatile, and readily available polymer which can help deliver a variety of styles, colors, and surface finishes.

Growing infrastructure spending in emerging economies of Asia is expected to boost the consumption of rotomoulded products. Nowadays, many developers are broadly using components made from PE that are designed to minimize the environmental impact of plastics on the planet by deploying them in wall coverings, window & door frames, water proofing, and flooring, enhancing the scope of APAC rotomoulding powder market.

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Modern flooring has already become the latest trend among infrastructure players, with stylish homes and workplace décor representing an image of high living standards. For high quality flooring, protection from moisture is vital because floors inside the buildings are usually covered with tiles and carpet, where penetration of water vapor through concrete slabs could lead to the failure of adhesive in tiling, staining of flooring products and fungal growth. Due to its durability, chemical resistance and load rating properties, PE is widely being accepted among rotomoulding powder manufacturers to meet different flooring needs.

Plastic industry is one of the fastest growing segments in India and PE is the most largely used plastic material by Indian companies, which accounts 43% of total consumption and indicates considerable potential for APAC rotomoulding powder market in the future. PE floorings are also being offered for outdoor tile applications to improve the aesthetic appeal of commercial and residential surroundings. APAC rotomoulding powder market is poised to register remarkable proceeds from augmented construction of housing complexes and industrial or IT parks in developing nations.

Waterproofing of the concrete structures has always been a challenging task and for simplifying the job, they are focusing more on quality of concrete and subsequent proofing solutions that play a vital role in the durability of a structure. Waterproofing a structure may account for only 2% to 3% of the overall building expenditure, but defects arising out of waterproofing failures could lead to nearly 80% of a structure’s  defects. Growing need for PE waterproof membranes across emerging economies will reinforce APAC rotomoulding powder industry, with players coming up with a variety of options that not only improve aesthetics but are also environment-friendly in nature.

A large number of chemical companies have extensive operations throughout Asia-Pacific, endorsing the necessity of chemical-resistant plastic frames for industrial structures. Increasing demand for these materials will undoubtedly expand APAC rotomoulding powder market share in developing countries.

Plastic is considered as one of the best suited materials for window and door frames since it is extremely impact resistant as well as impervious to water and corrosion. It is largely deployed in the food industry for professional kitchens and other humid environments. APAC is home to several countries which experience harsh weather conditions and heavy rains are witnessed across the region, which escalate the demand for corrosion resistant door and window frames. Need for suitable plastic materials like uPVC for these products will fuel APAC rotomoulding powder market growth.

APAC rotomoulding powder industry has recently witnessed a rapid adoption in low and medium-income nations in the continent, generating considerable revenues from a host of vital applications. In fact, reports estimate that Asia Pacific rotomoulding powder market will exceed annual valuation of USD 7 billion by 2024.

Author NameDeeksha Pant

Lithopone market to witness substantial growth from paper & pulp applications

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In the past few years, lithopone market has observed remarkable growth, primarily fueled by the growing investments in the paint, leather, paper, and cosmetic industries. The proliferating industrialization and globalization trends worldwide will further help prominent companies strengthen their consumer base. In addition to this, heavy investment in infrastructural development projects and the automotive industry will also drive the product demand over the coming years.

U.S. Lithopone 28% Market Size, By Application, 2018 & 2025, (Kilo Tons)
U.S. Lithopone 28% Market Size, By Application, 2018 & 2025, (Kilo Tons)

Leather is one of the most widely traded commodities across the globe. The leather industry is mainly driven by the increasing consumption of leather for footwear, interior design industries, and furniture. Owing to the sufficient availability of raw material along with huge population of cattle, India has emerged as one of the lucrative business destinations for leather trade globally. For instance, recently, it had been announced that the Punjab state government has been hoping to sign multiple agreements with French companies pertaining to various sectors, including leather industry. The substantial growth in synthetic leather market will have notable impact on lithopone industry share.

Environment concerns about the hazards caused to biodiversity due to extensive use of chemicals in the aforementioned industries have augmented the use of lithopone in leather, paint, and ink industries prominently. Before the development of lithopone, lead carbonate had been used as a pigment agent for various industrial applications, but due to its poor weathering, and toxic nature, lithopone is now preferred as an alternative. Shifting focus of regulatory bodies toward the deployment of stringent norms to reduce the impact of hazardous chemicals on the environment is slated to generate lucrative opportunities for lithopone manufacturers over the years ahead.

In the last few years, due to rapid urbanization and industrialization, soil pollution level has increased tremendously. The increasing use of plastic products and polythene bags are the prominent factors accelerating environmental hazards. In this regard, several countries have started framing laws for banning the use of plastic bags. As an alternative to the harmful plastic products, most of the companies have shifted their focus to manufacture paper bags, which would augment industry growth.

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As per the United Nations Environmental Program (UNEP), plastic packaging covers around half of all the plastic waste worldwide. The steps undertaken by regulators to control single-use plastic is likely to enhance requirement of lithopone in paper and pulp industry. According to Global Market Insights, Inc., lithopone industry share from paper and pulp application is estimated to surpass a revenue of USD 25 million by the end of 2025.

Countries like China have now banned the distribution of plastic bags, though the country has become one of the largest paper and paperboard producers and consumers. However, despite this, China has been importing raw material required across the paper making industry from the countries like UK, US, and Japan. In addition, now, China has become a hub for automotive manufacturers, that have been fueling the demand for paint, leather, and paper. Thus, it would be possible that China lithopone market thrives successfully over the years ahead.

It is to be noted that the exponentially growing automotive industry is one of the major consumers of leather, paints and coatings. The surge in the investment across automotive sector to meet consumers’ requirement for several variants of vehicles comprising electric, hybrid, duel color will improve the industry trends noticeably. In line with the expanding automotive paints and coatings market size, lithopone market will also observe a remarkable rise in its revenue share.

Government policies deployed to maintain social and environmental health hazards will turn out be lucrative opportunity generators for lithopone manufacturers. Increasing awareness among the people about negative impact of plastic waste will further enhance the demand for lithopone over forecast years.

The involvement of international regulatory bodies like UNEP along with improved consumer living standards will majorly promote the use of lithopone for various applications. The global lithopone industry outlook, in the years to come, will be characterized by the impact of environment projects, transforming automotive industry trends, and changing lifestyles.

Author NameSunil Hebbalkar

APAC compressor oil market to accrue substantial revenue by 2025

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The escalating growth of compressor oil market can be attributed to the high-performance lubrication benefits provided by the product. Its properties such as excellent oxidation performance, resistance to rust and corrosion, wear protection, foam control, and rapid water separation expands the product’s area of usage to manufacturing, power generation, automobile, mining etc., augmenting compressor oil market share.

U.S. Compressor Oil Market Revenue, By End-use (USD Million)
U.S. Compressor Oil Market Revenue, By End-use (USD Million)

The revenue portfolio of compressor oil market is likely to gain traction owing to expansive product demand from mining applications in particular. The product finds usage in a number of portable compressors that are massively deployed for operations such as vertical drilling, soil nails, rock bolting, shotcreting, anchoring, grouting, and more, given the necessity for smooth compressor operations.

The rising efforts to enhance mining capacity will drive compressor oil market share. The National Mineral Development Corporation (NMDC) for example, last year, announced that it plans to increase the iron ore production capacity to 50 million tons by 2019-20, by forming a joint venture with Chhattisgarh Mineral Development Corporation (CMDC) named NCL. Compressor oil market will gain a fair advantage from mining sector via such operational tactics in the coming years.

In addition to mining, automotive sector is the world’s biggest consumer of lubricants. Apparently, automobile and truck engines consume close to 20 million tons per year, which is about half of total lubricant use. In 2018, approximately 95,706,293 motor vehicles were manufactured in the world and the figure is expected to grow substantially in the years ahead. As the production rate of automobile depicts a rise, compressor oil demand will also increase simultaneously, thereby propelling compressor oil market size.

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Regionally speaking, APAC holds the largest share in compressor oil market owing to the significant presence of various industry players and their efforts to expand their reach worldwide. Recently, independent lubricant manufacturer Fuchs Petrolhub made it to the headlines for opening a plant in the Wujiang district of Suzhou, China. The facility’s production portfolio is inclusive of numerous industrial and automotive oils, rolling oils, and metalworking fluids. The 80,000 m² plant has been constructed with an investment of around EUR 46 million with a capacity of 100,000 tons in phase 1. The rising efforts by industry contenders to enhance production capacity will augment China compressor oil market.

Another country that will consolidate its stance in APAC compressor oil industry is India, the growth of which is supported by the expansion plans of industry giants. In 2017, BASF India Ltd., a subsidiary of BASF SE, had apparently launched a new technical lab for lubricant and fuel solutions at its Innovation Campus Asia Pacific. The facility was developed with the intention to deliver modern lubricant formulations and high-performance fluids for industrial and automotive applications.

As more and more major companies invest huge amounts to improve their footprints, APAC compressor oil market size will rise significantly over the coming years. Regional expansions by the key players will also push the growth graph of global compressor oil market in the times to come.

The demand for compressor oil will increase due to the rising production of compression equipment. Recently, Atlas Copco made it to the headlines for launching a new high-efficiency oil-injected screw compressor. These next-generation compressors are particularly well suited for metal processing, power plants and mining applications. Innovations pertaining to screw compressors will also augment rotary screw compressor oil market size, slated to exceed $3.5 billion by 2025.

Compression equipment producing companies have been undertaking various other strategies to increase their customer base. For instance, the compression equipment manufacturing company Gardner Denver Holdings, Inc. has announced that it has signed a definitive agreement with Ingersoll-Rand plc to combine Ingersoll Rand’s industrial segment with the company. The merger will expand margins through increased efficiencies and allocate capital effectively, accelerating strategic priorities of both the companies. Such moves by leading companies will contribute to the growth of compression oil industry share.

Many oil giants reportedly follow collaborative strategies to expand their business and increase their footprints worldwide. For example, American multinational oil and gas giant ExxonMobil, owns around 37 oil refineries in almost 21 countries, and has recently announced that it has proceeded with an oil development plan in Bajo del Choique-La Invernada block of Argentina. The project is anticipated to produce around 55,000 oil-equivalent barrels a day within next 5 years. Such strategic moves by the oil majors are backing the growth graph of compressor oil market.

Governments worldwide have been planning to increase mining facilities to increase mining production, which will help enhance compressor oil market outlook substantially. With rising number of industry leaders undertaking strategic efforts to expand business reach and product demand increasing across myriad applications, compressor oil market share will increase majorly in the years to come.

Author NameAnchal Solanki

U.S. polyaryletherketone market to accrue substantial proceeds from medical applications over 2019-2025

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Increase in manufacturing activities and rising adoption of more efficient materials has provided polyaryletherketone market with considerable growth opportunities across automotive, aerospace, energy and healthcare segments. Polyaryletherketone (PAEK) is considered among the more temperature-stable thermoplastics with high mechanical strength. Subsequently, these are suitable for applications where dimensional accuracy and reliability is required over a wide range of temperatures. Consistent demand for high performance seals, washers, rotor arms and other auto parts will boost consumption for PAEK industry substantially.

U.S. Polyaryletherketone (PAEK) Market Size, By End-Use Sector, 2014 – 2025 (USD Million)
U.S. Polyaryletherketone (PAEK) Market Size, By End-Use Sector, 2014 – 2025 (USD Million)

Automobile and component manufacturers are constantly looking to build lighter yet stronger parts for improving the efficiency of vehicles, as well as by lowering the weight of in-engine components. Several parts which were traditionally made form metals are increasingly being made from thermoplastics like polyetheretherketone (PEEK), one of the high performance PAEK resins. Existing emission laws worldwide and upcoming carbon-reduction targets will coerce automakers to adopt innovative materials for reducing weight and enhancing fuel efficiency, strengthening global PAEK market outlook.

PEEK enables the development of novel and cost-effective medical parts that have remarkable heat, electrical, chemical and wear resistance properties. The material is widely deployed in the production of important tools such as dialyzers, dental instruments and endoscopes, in addition to medical implant parts. Global healthcare expenditure was recorded at around US$7.7 trillion in 2017 and is expected to rise notably over the next few years, indicating the tremendous prospects for medical tools and equipment. Undoubtedly, polyaryletherketone market is poised to amass substantial revenues from medical applications in the coming years.

Emerging production technologies like 3D printing are gradually transforming the manufacturing segment, with significant advantages for the automotive, aerospace and healthcare sectors. Innovations in the field have primarily resulted from the development of additives based on materials like PEEK. The material is ideal for 3D printing in low volumes where specialized design makes it difficult to create parts using conventional methods and metals. As additive manufacturing is increasingly deployed to build customer medical implants, PAEK industry could witness augmented demand for advanced PEEK-based materials.

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German 3D printing company Apium Additive Technologies had recently made an achievement in processing a PEEK filament for use in healthcare. The company’s Medical PEEK 3D Printing fulfilled biocompatibility criteria for making medical devices and implants for hand and skull. In November 2018, Evonik had confirmed the development of the first implant-grade quality PEEK filament for 3D printing in the world, suited for applications like sports medicine, spinal implants as well as maxillofacial surgeries. As evident from these milestones, polyaryletherketone market would certainly gain significant momentum from 3D printed medical implants over the forecast period.

U.S. is among the most development countries in the world and also entails a large amount of spending on health services and surgical procedures. The nation is home to several leading technology companies, healthcare systems and chemical manufacturers, providing a reliable source of PAEK materials. Rising prevalence of various disorders has elevated medical concerns immensely over the past few decades, with more patients requiring the use of medical devices. In fact, expenditure on medical devices and in-vitro diagnostics in U.S. had reached US$173.1 billion in 2016, suggesting a potentially large scope for polyaryletherketone industry.

Growing geriatric population poses numerous healthcare challenges in terms of treatments provided and cost of medical services. Health costs usually rise every year and it is necessary to ensure low-cost and reliable medical devices are made available to patients for keeping their expenditure as low as possible. The U.S. Census Bureau has estimated that there would be over 78 million people aged 65 years or more in the country by 2035. With a surge in older population the need for efficient medical devices will also increase, bringing in considerable remunerations for PAEK market.

Owing to continuous evolution of the medical devices segment and increased preference towards PEEK materials for 3D manufacturing of parts, PAEK industry will experience accelerated growth in the imminent future. Key players leading the competitive landscape include Akro Plastic, Toray Advanced Composites, Evonik, Victrex, Arkema and Mitsubishi Chemical Advanced Materials. Reports have projected that global polyaryletherketone market will surpass a valuation of US$1.5 billion by 2025.

Author NamePankaj Singh

Seismic reinforcement materials market to be driven by increasing infrastructural development

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Seismic reinforcement materials market is poised to witness momentous growth over the ensuing years, primarily owing to the demand for seismic proof structures in earthquake-prone areas across the world. The product demand from a slew of end-users including residential, commercial, industrial, and infrastructural sectors will also support market growth. For the uninitiated, seismic reinforcement or seismic retrofitting is the process of making a structure more resistant to the severe consequences of an earthquake.

U.S. Seismic Reinforcement Materials Market By End-use Sector, 2014 – 2025 (USD Billion)
U.S. Seismic Reinforcement Materials Market By End-use Sector, 2014 – 2025 (USD Billion)

Increasing preference for earthquake resistant buildings will be a major driving force augmenting the product demand. Strong earthquakes are extremely dangerous and result in millions of casualties each year. Most earthquake deaths are results of structural failures. Seismic retrofitting of existing structures in earthquake-prone regions to make them more resistant to ground motion and soil failure will bolster global seismic reinforcement materials market in the coming years.

Earthquake is a natural phenomenon, but the amount of damage it causes can be a huge threat to a country’s economy. Especially for the industrial sector, natural disasters like earthquakes can destroy tangible assets like buildings and equipment along with human capital, bringing down production capacity. The vulnerability of industrial buildings due to their high exposure, needs to be protected through proper seismic retrofitting modifications. Owing to these factors commercial seismic reinforcement materials segment is likely to exhibit growth in the succeeding years.

The imposition of building codes is an effective way to ensure that people like engineers, contractors, and builders are inclined towards the construction of earthquake resistant structures. For instance, FEMA’s National Earthquake Hazards Reduction Program (NEHRP) recommends a set of seismic provisions for new and existing structures to reduce the fatalities and property losses caused by earthquakes. Such trends will further boost material demand, thereby augmenting seismic reinforcement materials market.

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The infrastructure development sector garnered immense proceeds in the past and is projected to retain its status in the industry over 2019-2025. This development can be attributed to the extensive use of seismic reinforcement materials in infrastructure projects such as bridges, flyovers, tunnels, etc. Increasing investment in infrastructural development projects will drive product demand. As per credible estimates, Asian Infrastructure Investment Bank (AIIB) has made plans to finance infrastructure projects worth $10 to $12 billion. Such investments could fuel the seismic reinforcement materials industry from the infrastructure development sector.

The bridges and flyover segment is slated to garner considerable growth over the coming years. Seismic retrofitting in bridges and flyovers helps reduce the intensity of the disaster, in addition to aiding rescue and relief operations. Rising urban congestion in emerging economies has accelerated the pace of development of bridges and flyovers, thereby elevating segmental growth for seismic reinforcement materials market.

North America seismic reinforcement materials market is anticipated to accrue appreciable gains in the global market in the coming years. In countries like the U.S, thousands of shocks of varying intensity occur every year and most of the coastal states are prone to earthquakes. Government grants like the Brace + Bolt program which provides homeowners grants up to $3,000 for seismic retrofits, will also boost product demand. The country houses one of the world’s largest construction industry, and increasing trend of building more earthquake resistant structures would upscale seismic reinforcement materials market share in the future.

An upturn in infrastructural activities in the Asia Pacific market will also drive the demand for seismic retrofitting. Rapid urbanization across countries like India, China, and other Asia Pacific nations will proliferate the need for major bridges, flyovers, airports, and other giant structures. The increasing deployment of advanced materials and construction equipment including seismic retrofitting materials in order to deal with regional geological vulnerabilities will boost market size in the Asia Pacific.

Seismic retrofitting of vulnerable structures is more than necessary; such modifications not only prevent property damage but protect the lives and assets of building occupants. Adherence to seismic retrofitting measures by various commercial and residential buildings, paired with favorable government regulations will continue to support product demand over the ensuing years.

According to a research report by Global Market Insights, Inc., the seismic reinforcement materials market is anticipated to be worth more than $40 billion by 2025.

Author NameKrithika Krishnan