Concrete Expansion Joint Market Report Overview
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The global concrete expansion joint market size was USD 894.4 million in 2022 and is projected to touch USD 1146.67 million by 2031, exhibiting a CAGR of 2.8% during the forecast period.
Concrete expansion joints, or control joints, are gaps between two slabs of concrete that allow them to move without breaking. A gap between slabs of concrete allows them to move independently and freely. It's a common misconception that concrete won't move, but that's not the case. As the temperature changes, concrete expands and contracts. Additionally, it can move with the movement of the earth. By allowing the slab to move, they prevent cracks and buckling. Movement without control joints can result in pressure and stress, which eventually leads to cracks or buckling. Pressure is relieved and damage is prevented by expansion joints. Concrete has no elasticity and is extremely stiff. There is no forgiveness in this material. The pressure is relieved by cracking. In essence, the new crack serves as an expansion joint. A joint could have absorbed pressure and prevented the crack if it had existed. It is for this reason that expansion joints are used. The expansion joints between slabs and other concrete structures are filled with a flexible material. An expansion joint is made to withstand the natural expansion and contraction of concrete brought on by temperature changes. The process of planning concrete expansion joint correctly is a complex one that should be given careful consideration. In order to protect the integrity of the concrete slab, it is essential to create the correct gaps, at the right spacing, and fill them with the correct material.
Various applications of concrete expansion joint includes in buildings, roads, bridges, etc. Increasing usage of rubber expansion joint, and usage of rubber expansion joints in waterworks industry are some of the major driving factors of the market. Apart from all the usages of concrete expansion joint, there are also some slight disadvantages of using the same. The improper alignment of these joint is one among those restraints of the market.
COVID-19 Impact: Halt on Chemicals and Advanced Materials to Hamper Market
The global COVID-19 pandemic has been unprecedented and staggering, with the concrete expansion joint market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
As a result of COVID-19, the concrete expansion joint market growth has also been drastically affected. In order to comply with new government regulations, many of the companies have halted their operations due to the COVID-19 pandemic. The concrete expansion joint market is directly affected by this pause in operations. Due to the lockdown imposed by governments across the globe, the roads and highway industry is also at a standstill except for some emergency maintenance. Raw material production has been halted due to a lockdown, resulting in a shortage and halting new shipments. Around the world, many governments are allowing construction activities to begin; however, employers must follow certain measures to provide a safe and healthy workplace. The government lockdown has negatively affected the concrete expansion joint market around the world, which is expected to slowly recover.
Latest Trends
"The Contraction of Concrete Structures Due to Extreme Weather Conditions to Drive Market"
As a result of extreme hot and cold weather conditions, concrete structures in commercial buildings, roadways, bridges, railway tracks, sidewalks, piping systems in oil & gas, and petrochemical industries expand and contract. These structures can therefore withstand stress with the help of expansion joints. The market for concrete expansion joint will be driven by this factor.
Concrete Expansion Joint Market Segmentation
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- By Type
The market is classified into asphalt expansion joint, foam expansion joint, rubber expansion joint, cork expansion joint, and others based on type. The asphalt expansion joint segment will lead the concrete expansion joint market share throughout the forecast period.
- By Application
The market is classified into buildings, roads, bridges, and others on the basis of application. The buildings segment will lead the concrete expansion joint market share throughout the forecast period.
Driving Factors
"Increasing Usage of Rubber Expansion Joints to Drive the Market"
Vibration and shock are absorbed by rubber expansion joints, electrolytic corrosion is prevented, and positive sealing prevents leaks. Rubber expansion joints are expected to benefit from the rapidly growing oil & gas industry in the near future. Different types of rubber expansion joints are manufactured for different applications. The red color band rubber expansion joint is suitable for water treatment, industrial water, acids, alcohol, esters, and is not suitable for oil-related media. Rubber expansion joints with white color bands are manufactured for food and beverage applications. Rubber expansion joints market growth is expected to be driven by product innovation during the forecast period.
"Usage of Rubber Expansion Joints in Waterworks Industry to Drive the Market"
Rubber expansion joints are likely to be used more in the waterworks sector (sewage systems, marine industry, water pipeline systems, etc.). By significantly increasing the service life of the pipework, rubber expansion joints absorb movements and relieve system strain caused by thermal changes such as pumping surges. There are two types of rubber expansion joints: single arch and multiple arch. Rubber expansion joints are also expected to be used in industries such as steel plants, industrial manufacturing, food and beverage, shipbuilding, and building construction.
Restraining Factors
"Improper Alignment of Concrete Expansion Joint to Restrain the Market"
In order to maintain or repair a concrete expansion joint, it must be replaced or damaged. In addition, the strain on the machinery and equipment as a result of improper alignment, exposure to shear, or torsion of the expansion joints can cause serious issues. These are some important factors that are anticipated to limit market growth to some extent during the forecast period.
Concrete Expansion Joint Market Regional Insights
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"Asia Pacific to Hold the Largest Maret Share Owing to Expanding Construction Industry"
Asia Pacific holds the largest market share during the forecast period. In the Asia Pacific region, the construction industry is growing, so the number of expansion joints will increase. Changing demographics and an increase in income in the region is also a major factor contributing to the demand for more construction, travel, and expansion joints in the region. Based on the rising middle class and entry of low-cost manufacturers from China, Asia Pacific region is expected to rise as the fastest growing region over the forecast period. It will result in more air travel and more automobile usage, which in turn will result in a greater demand for expansion joints.
Through the forecast period, North America holds the second largest share of the market and is expected to see a relatively marvelous adoption of expansion joints as the adoption of roadways and railways increases. Globally, the expansion joints market is expected to grow significantly over the forecast period.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- GCP Applied Technologies (U.S.)
- Watson Bowman Acme (U.S.)
- EMSEAL Joint Systems (U.S.)
- MM Systems (U.S.)
- W. R. Meadows (U.S.)
- LymTal International (U.S.)
- DS Brown (U.S.)
- ITW Construction Systems (India)
- Nystrom (U.S.)
- RJ Watson (U.S.)
- Connolly Key Joint (Australia)
- Amorim (Portugal)
- WE Cork (U.S.)
- Megacork (Portugal)
- Roaby
- ZKHY
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 894.4 Million in 2022 |
Market Size Value By |
US$ 1146.67 Million by 2031 |
Growth Rate |
CAGR of 2.8% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the concrete expansion joint market expected to touch by 2031?
The concrete expansion joint market is expected to reach a value of USD 1146.67 million by 2031.
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What CAGR is the concrete expansion joint market expected to exhibit by 2031?
The concrete expansion joint market is expected to exhibit a CAGR of 2.8% by 2031.
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Which are the driving factors of the concrete expansion joint market?
Increasing usage of rubber expansion joint, and usage of rubber expansion joints in waterworks industry are some of the major driving factors of the concrete expansion joint market.
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Which are the top companies in the concrete expansion joint market?
The top companies in the concrete expansion joint market include ZKHY, Roaby, GCP Applied Technologies, etc.