The Global Alloy Strips Market Growth Is Accelerated By Expanding Applications

 

Alloy strips have excellent durability and corrosion resistance properties. They are used as protective strips for geosynthetic liners to prevent punctures from construction debris and to reinforce concrete and soil structures. The rising infrastructure development activities are propelling the demand for geosynthetic materials for various civil engineering applications like landfill linings, wastewater treatment, erosion control, and soil reinforcement. These alloy strips provide protection to geosynthetic materials from punctures. Thus, the growing use of geosynthetic materials in infrastructure projects is augmenting the need for alloy strips.

The global Alloy Strips Market is estimated to be valued at US$ 28.04 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing application of alloy strips in hydraulic and flood control structures is one of the major trends witnessed in the alloy strips market. Alloy strips are effectively used as crack inducers and construction joints. They help divert the flow of water to specific locations and prevent cracks in concrete structures by providing relief joints. Apart from this, the ongoing research and development activities focused on developing new lightweight and durable alloy compositions for strips are expected to present lucrative opportunities over the forecast period. This is attributed to growing emphasis on developing sustainable and eco-friendly infrastructure. Moreover, the rising adoption of geosynthetic materials in emerging economies of Asia Pacific and Latin America due to increasing government investments in infrastructural development projects will further augment the sales of alloy strips.

Segment Analysis

The Global Alloy Strips Market Size is dominated by aluminum alloy strips segment, accounting for over 55% share in 2023. Aluminum alloy strips are preferred choice for construction applications owing to their high strength-to-weight ratio and corrosion resistance. These strips can withstand heavy loads and harsh weather conditions making them suitable for roofing and siding applications.

Key Takeaways

The global alloy strips market is expected to witness high growth over the forecast period. Regional analysis shows that Asia Pacific region held largest share of over 40% in the global market in 2023. Rapid urbanization and infrastructure development activities in countries like China and India are driving the growth of construction industry in the region. This in turn is fueling the demand for alloy strips in applications like roofing and siding.

Key players analysis shows that SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri Spa( Italy), Berry Global Inc (US), and Agru America, Inc (US) are some of the prominent players operating in the alloy strips market. SOLMAX is a leading manufacturer of geosynthetic lining systems with presence in over 100 countries. The company offers wide range of alloy strips for construction and mining applications. NAUE is another major player focusing on developing innovative geosynthetic solutions for soil stabilization, erosion control and landfill applications.

The global alloy strips market is expected to witness high growth over the forecast period. Regional analysis related content comprises Asia Pacific region held largest share of over 40% in the global alloy strips market in 2023. Rapid growth of the construction industry driven by large infrastructure projects and increased investments in commercial and residential construction sector across China, India and other Asian countries is fueling the demand for alloy strips in the region. The market is estimated to grow at a CAGR of over 6% during the forecast period.

Key players operating in the alloy strips market are SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri Spa( Italy), Berry Global Inc (US), and Agru America, Inc (US). SOLMAX is a global leader in geosynthetic materials with broad portfolio of alloy strips used in various construction applications. The company is focusing on expanding its manufacturing plants across North America and Asia to cater to the growing demand from construction industry.

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