The building expansion joints market is expected to gain extensive growth across the forecast period of 2019-2029. The growing influence of urbanization coupled with the booming construction sector is bringing immense prospects during the forecast period.
Expansion joints are designed to allow consistent traffic between two structures and are essential for accommodating structural movements caused by expansion and contraction due to temperature. Expansion joints are bifurcated into open joints and closed joints. The widespread application of expansion joints in railway and roadway bridges assures substantial growth prospects for the building expansion joints market.
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Smart Cities to Increase Growth Rate of Building Expansion Joints Market
Urbanization has led to the rapid development of smart cities. This aspect may bring immense growth opportunities for the building expansion joints market. In addition, the growing investments in developing the transport mechanism may further add extra stars of growth to the building expansion joints market. Developing and maintaining bridges across the globe has risen considerably and this factor may bring promising growth for the building expansion joints market.
COVID-19 to Have Short-Term Negative Growth Impact
The novel coronavirus pandemic has affected the construction industry to a great extent. The delays in construction activities due to strict lockdown impositions across numerous countries led to a decrease in demand for building expansion joints. Thus, this aspect may have a negative impact on the growth of the building expansion joints market.
However, the lifting of lockdown restrictions may help the building expansion joints market to revive lost growth. Countries like the U.K. have started mass vaccination drives. Thus, this aspect may further strengthen the world economy, eventually building blocks of growth across the building expansion joints market.
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Key players in the building expansion joints market are Maurer SE, Pioneer Construction Technologies, EMSEAL, MIGUA Fugensysteme GmbH, Tecno K Giunto SRL, Haider Construction Engineering, Amorim Cork Composites S.A., Astensik Muhendislik, and SIKA.