The global strength members market is projected to grow from $10.5 billion in 2018 to $12.3 billion by 2028, at a compound annual growth rate (CAGR) of 3.1%. The global steel strength members market size is expected to reach $4.9 billion by 2028 and the FRP strength members market size is expected to reach $6.4 billion by 2028, at a CAGR of 4% and 5%, respectively during the forecast period (2018-2028).
Strength members are structural segments that hold the load of a building. They often include steel, concrete, and wood beams, as well as pre-cast or cast-in-place slabs and columns. Strength members can be made from a variety of materials including steel, concrete, or wood beams as well as pre-cast slabs and columns. The size of strength members is typically calculated by area rather than height because it’s easier to measure, with each square foot costing anywhere from $0.70 to $120, depending on the material and job site conditions.
On the basis of type, the global strength members market is segmented into FRP (fiber reinforced plastics) and steel.
Fiber-reinforced plastics (FRP) are a type of composite material made from two or more components. The most common FRPs in the market today consist of three layers: organic fiber, carbon fibers, and epoxy resin which act as a binding agent. The fiber layer is typically made of glass, which has a high strength-to-weight ratio and low density. The carbon fibers are used to provide the material with extra toughness or rigidity and increase its ability to withstand extreme temperatures like an oil fire for example. In recent years there have been some innovations in FRP materials where they use other types of organic fibers such as polyester, nylon, aramid (Kevlar), or cotton instead of glass fiber to make it stronger than before. The epoxy resin provides FRPs with good chemical resistance against fuels oils and acids that might be found in steel tanks at an industrial facility for example. Carbon nanotubes can also act as reinforcement agents by strengthening the bond between layers of FRP composites.
Steel strength members are used in various construction and oil & gas applications. They include steel angle, I-section, round chord, and flat bar among others that can be welded or bolted to form a structure of the required shape with adequate resistance against loads as well as corrosion protection.
Steel angle, I-section, and round chord are common in construction applications. Flat bars of various lengths can be used for assembly purposes but they also find use as strength members across a variety of industries including oil & gas where their resistance to corrosion is an added benefit.
On the basis of application, the global strength members market is segmented into the sports & leisure industry, oil & gas industry, construction industry, cranes arboriculture, and others.
The sports and leisure industry has been one of the major end-users of steel strength members. The demand for these types of products is mostly driven by sports stadiums, gymnasiums, fitness center buildings, etc. The sports and leisure industry also includes facilities such as ski resorts, water parks, bowling alleys, etc., which require lifting equipment with a higher load capacity than other industries to handle heavier loads in order to avoid potential injuries or accidents due to safety concerns. However it should be noted that at present time there are not many suppliers who offer FRP strength member solutions specifically for this segment.
The application of strength members in the oil & gas industry includes offshore rigs and platforms, as well as onshore facilities. Oil production is typically carried out from a platform or rig, which can have up to several thousand tons of equipment mounted on it that requires structural support. In addition to providing required stability for structures like drilling rigs and tanks at ports, steel pipe life span is extended by installing FRP reinforcement (or even replacing all piping with fiberglass).
Strength members are used in construction to provide support and stability for a structure, most commonly during the building of scaffolding. They're also used as reinforcements on bridges and buildings before they're finished being constructed. Strength members can be made from either steel or FRP materials. Steel is more durable than FRP, but it's heavier - meaning that if you need to move them around extensively while building your project strength members will take up more space (and cost) than their FRP counterparts. However, this trade-off could make sense depending on what kind of structures you'll be working with since there are some projects where weight isn't as important an issue.
The application of strength members in crane arboriculture is to support the crane's load. Strength members are used as secondary support for the application of cranes in arboriculture, and they can be made from steel or fiberglass. A crane's arboriculture would require steel strength members that resist corrosion from rain or snow exposure while maintaining rigidity against bending during use.
On the basis of region, the global strength members market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America is the largest regional market for strength members as of 2016. This region has a major share in this market due to its high demand from construction sectors such as oil and gas or the sports and leisure industry. The North American markets are also bigger than other regions because it's home to some of the biggest companies that offer various types of strength member products and services like Alcoa Inc., which manufactures aluminum alloys used extensively in manufacturing steel structures with excellent corrosion resistance properties; Siemens AG, one of the leading manufacturers worldwide who offers FRP-strength members made by their subsidiary company Werner+Leimen GmbH (News - Alert); Star Steel Corporation, which specializes in the manufacturing of steel strength parts and products for oilfield industries; Tenaris SA, a corporation involved with producing seamless pipe production.
Growth in construction activity and the related need for steel strength members is one of the key factors that will drive demand. For instance, China’s real estate industry has been growing at a rapid pace with new homes built each year despite the declining population growth rate. Moreover, as oil prices stabilized over recent years before rebounding to levels higher than $100/bbl by 2018-2019 through increased production from OPEC countries and economic recovery across most regions; this helped increase capital expenditure (CAPEX) on energy exploration projects, upstream oil & gas activities such as drilling wells or pipeline laying during 2017-2018 which will support market growth in future years.
Up Market Research published a new report titled “Strength Members Market research report which is segmented by Types (FRP Strength Members, Steel Strength Members), By Applications (Sports and Leisure, Oil and Gas, Construction, Cranes, Arboriculture, Others), By Players/Companies Multicom, DowDuPont, Cortland, Roblon, Phillystran, Hec-Holland”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Strength Members Market Research Report|
|By Type||FRP Strength Members, Steel Strength Members|
|By Application||Sports and Leisure, Oil and Gas, Construction, Cranes, Arboriculture, Others|
|By Companies||Multicom, DowDuPont, Cortland, Roblon, Phillystran, Hec-Holland|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||244|
|Number of Tables & Figures||171|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type FRP Strength Members, Steel Strength Members and By Application Sports and Leisure, Oil and Gas, Construction, Cranes, Arboriculture, Others.
Some of the companies that are profiled in this report are:
Strength Members Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Strength Members Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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