Expansion joints during construction are used to separate the panels and concrete from the rest of the structure. Expansion joints allow independent movement between adjacent components and minimize cracking when such movement is restricted. This allows for thermal expansion and contraction without stressing the system becomes possible. Typical applications include: Expansion joints for new construction and renovation projects on bridges, highways, parking lots, stadiums, plazas, and other types of concrete structures.
The global market for construction expansion joints will grow from $1,252.26 million in 2021 to $163.28 million in 2028, with an estimated CAGR of 4.1 from 2022 to 2028 is estimated to be %. In the long term, growing preference for prefabricated construction will contribute to the growth of this market
Demand for expansion joints in construction will decrease in 2020 due to low demand from various industries such as: B. Construction due to lockdowns imposed by governments of many countries.
The COVID-19 pandemic has forced many companies in the expansion joint market to suspend operations to comply with new government regulations. This operational suspension has directly impacted the revenue stream of the expansion joint market. The road and highway industry is also at a standstill, with the exception of some emergency maintenance work due to government-imposed lockdowns around the world. As the lockdown stopped the production of raw materials, there was a shortage of raw materials and new shipments stopped. Many governments around the world allow construction to begin. However, employers must take certain steps to provide a safe and healthy workplace. Government-imposed lockdowns are having a negative impact on the global expansion joint market, which is expected to recover slowly.
The architectural expansion joint market is relatively fragmented. Global leaders are Roaby, Canam, GCP Applied Technologies, Watson Bowman Acme, Mageba S.A, EMSEAL Joint Systems, MM Systems, W.R. Meadows, ZKHY, LymTal International, DS Brown, ITW Construction Systems, Nystrom, RJ Watson, Connolly Key Joint, Times New Material Technology, Amorim, WE Cork, Megacork, etc.
Globally, in 2020, 23.54 million meters of expansion joints were launched. China accounts for about 31.1% of global sales, North America about 21.66%, and Europe his 17.36%. In terms of consumption, China will continue to be the largest market due to rapid demand in building and infrastructure construction.
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