Building Expansion Joints Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019–2029

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Building Expansion Joints Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019–2029

Status : January, 2023 | Chemical & Materials

Report Digest

Building Expansion Joints Market: Introduction

Building Expansion Joints are used in building construction as a mid-structure separation to mitigate the stress on building materials. They isolate the sections of the building by acting as an assembly designed to hold parts together while safely absorbing the expansion and contraction induced due to temperature, seismic activity, or other vibrations.  

They are used as joints in foundations, ceilings, decks, walls and floors. The assembly creates an obstructed separation between two sections of the same materials.  In concrete and concrete block construction, the term is replaced by control joints. Building Expansion Joints are required when the plan dimensions of a building are relatively large. They serve as periodic breaks in the structure of a building.

Building Expansion Joints Market: Market Dynamics

The rising urbanization and the developments in the construction industry has been a key growth factor for the Building Expansion Joints market. The rising number of construction activities has also fuelled this growth. The concern towards building safety has mandated the need for Building Expansion Joints. Significant developments in past few years enhancing the production of temperature-proof and seismic-proof expansion joint geometries, has led to its increasing applications in residential and commercial buildings. These factors have positively impacted the Building Expansion Joints market and contributed to its growth.

The challenges adhering to improper and unplanned installation have caused severe impact on building construction and led to failure of the structure. These challenges are decelerating the growth of the Building Expansion Joints market.  The improper selection of material and faulty design practices without considering temperature effects and building life, have prone to building accidents. These issues in Building Expansion Joints, are also critical key factors restraining the growth of the market.

The development in construction activities such as rising commercial complexes provide lucrative opportunities for the market growth. The expanding smart cities in developed and developing countries indicate the measure of market demands that will likely influence the market in future. The shift towards infrastructure development has led to more investments in construction industry and it is anticipated to provide latitudes in the overall Building Expansion Joint market.

COVID-19 Impact:

Amid COVID-19, the construction industry was impacted negatively. It faced numerous challenges such as unavailability of resources and project delays that led to cancellations and project terminations, incurring heavy losses on contractors. The rising material costs and labor furlough added to the existing issues faced by the industry. These factors created negative consequences for the Building Expansion Joints market. However, the industry is adapting to this new normal and they have created different strategies for scheduling, resource availability and logistics that will likely improve the market scenario. The response capabilities of such industries will determine the penetration of Building Expansion Joints in the industry and lead to more returns in future.

Building Expansion Joints Market: Segmentation

On Basis of Material Type:

  • Metal
  • Composites
  • Asphalt
  • Elastomer

On Basis of Joint Location:

  • Interior Construction
  • Exterior Construction

On Basis of Building Type:

  • Residential
  • Commercial

Building Expansion Joints Market: Regional Outlook

The Building Expansion Joints market is influenced primarily by domestic players. However, region of North America continues to dominate the market by means of its production capabilities in innovative design and technological advancement. The region is followed by Europe, where a large base of key players, continue to have prominent share in the market. In regions such as Asia- Pacific, the growing trends in urbanization and strong infrastructure development have led to increased demand for such products. Comparatively, in regions like Middle East, significant investments in construction industry continue to escalate the market further.

The report covers exhaustive analysis on:

  • Building Expansion Joints Market Segments
  • Building Expansion Joints Market Dynamics
  • Building Expansion Joints Market Size
  • New Sales of Building Expansion Joints
  • Current Trends/Issues/Challenges in the Building Expansion Joints Market
  • Competition & Companies Involved in Building Expansion Joints
  • New Technology for Building Expansion Joints
  • Value Chain of the Building Expansion Joints Market

Building Expansion Joints Market: Key Participants

Some of the key players in Building Expansion Joints Market across the value chain are as below:

  • MIGUA Fugensysteme GmbH
  • Astenik Muhendislik
  • The J D Russell Company
  • Amorim Cork Composites S.A.
  • Colonial Tool Group Inc.
  • Tecno K Giunti srl 
  • Maurer SE
  • Pioneer Construction Technologies
  • VSL International Inc.
  • Haider Construction Engineering
  • SIKA
  • IREX Contracting Group
  • Koster USA

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?