Global Prestressed Concrete Wire and Strand Market – Industry Trends and Forecast to 2029

Global Prestressed Concrete Wire and Strand Market, By Coating Type (Uncoated PC Strand, Galvanized PC Strand, Epoxy Coated PC Strand, Others), Type (Prestressed PC Steel Wire, Plain PC Wire, Indented PC Wire, Spiral Ribbed PC Wire), Carbon Content (High, Medium, Low), Application (Railroad Industry, Construction Equipment, Bridges, Flyovers) – Industry Trends and Forecast to 2029

Market Analysis and Size

According to a United Nations report released in 2016, the number of megacities is expected to increase by tenfold between 2016 and 2030. The growing number of megacities will largely boost the prestressed concrete wire and strand market demand. Furthermore, these infrastructure investments are likely to be directed primarily to developing economies worldwide. As a result of developing economies and a growing number of megacities, the market is estimated to have a positive growth outlook.

Global Prestressed Concrete Wire and Strand Market was valued at USD 194.11 million in 2021 and is expected to reach USD 264.83 million by 2029, registering a CAGR of 3.96% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

Prestressed concrete wire and strand (PFPE) is a low-molecular-weight fluorinated synthetic fluid. Prestressed concrete wire and strand is non-toxic and non-flammable in their natural state. It is utilized in severe temperatures ranging from 80°C to 200°C. PFPE's molecular structure might be linear, branched, or a combination of both, depending on the application. Temperature resistance, lubricity, wear resistance, and fluid volatility are all provided by PFPE.

Prestressed Concrete Wire and Strand Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Demand Across Construction Activities

The rapidly expanding global building and construction industry is one of the primary drivers of global market growth. The number of real estate projects and large-scale construction activities taking place around the world will drive market growth. Moreover, the rapid construction of flyovers, bridges, hospitals, hotels, shopping malls, and other public structures coupled with the rising demand for offsite construction has aided global market expansion. Prefab construction has become increasingly popular in recent years, which has boosted global market development even more. The rising usages of the prestressed concrete in various fields such as crane beams, cement poles, multi-factory framework, railway sleepers and others, prevalence of advanced and improved material is estimated to carve a way for the growth of the market.

The growth of the manufacturing sector and the rising number of construction projects will further propel the growth rate of prestressed concrete wire and strand market growth rate. Additionally, the growing focus on urbanization and fast-paced industrialization especially in evolving economies will also drive market value growth. The increasing government funding for the real estate sector is also projected to bolster the market's growth.

Opportunities

• Foreign and Government Investments

Furthermore, the rising government investments in public infrastructure development extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing foreign investment in the civil infrastructure sector combined with the growing public infrastructural development activities will further expand the future growth of the prestressed concrete wire and strand market.

Restraints/Challenges

• Price Volatility of Raw Material

Steelmakers are under pressure due to rising manufacturing costs, which are compounded by record-high iron ore prices. Therefore, the volatility in the prices of Chinese steel will create hindrances for the growth of the prestressed concrete wire and strand market.

• Requirement of Technology

Pre-stressing necessitates the use of skilled technology as well as quality control and inspection. The unavailability of these requirements are anticipated to be a demerit for the prestressed concrete wire and strand market. Therefore, this factor will challenge the prestressed concrete wire and strand market growth rate.

This prestressed concrete wire and strand market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the prestressed concrete wire and strand market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Prestressed Concrete Wire and Strand Market

The recent outbreak of coronavirus had a negative impact on the prestressed concrete wire and strand market. The pandemic has thrown off all industry growth strategies and forecasts, necessitating a recalculation of everything. The construction and real estate industries is expected to decline. Government spending on infrastructure development was drastically reduced. The severe disruptions in various manufacturing, as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments, resulted in huge financial setback for the market. Moreover, the consumption of industry products may be on the decline. These determinants largely hampered on the market's revenue trajectory.

On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and as a result the market is estimated to expand. According to experts, in order to survive in the post-COVID-19 scenario, major players must rethink their strategies and maintain healthy relationships with their business partners.

Global Prestressed Concrete Wire and Strand Market Scope

The prestressed concrete wire and strand market is segmented on the basis of coating type, type, carbon content and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Coating Type

• Uncoated PC Strand
• Galvanized PC Strand
• Epoxy Coated PC Strand
• Others

Type

• Prestressed PC Steel Wire
• Plain PC Wire
• Indented PC Wire
• Spiral Ribbed PC Wire

Carbon Content

• High
• Medium
• Low

Application

• Railroad Industry
• Construction Equipment
• Bridges
• Flyovers

Prestressed Concrete Wire and Strand Market Regional Analysis/Insights

The prestressed concrete wire and strand market is analyzed and market size insights and trends are provided by country, coating type, type, carbon content and application as referenced above.

The countries covered in the prestressed concrete wire and strand market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the prestressed concrete wire and strand market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the steady rise in industrialization and urbanization.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing spending on research and development for applications of defense and aerospace in the emerging economies in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Prestressed Concrete Wire and Strand Market Share Analysis

The prestressed concrete wire and strand market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to prestressed concrete wire and strand market.

Some of the major players operating in the prestressed concrete wire and strand market are

• Siam Industrial Wire (Thailand)
• USHA MARTIN LIMITED (India)
• Quantum Steel (South Africa)
• Shandong Xingying Environmental Energy Technology Co. LTD (China)
• ArcelorMittal (Luxembourg)
• ÇELIK HALAT ™, ÇELIK HALAT Logosu ve ™ (Turkey)
• Insteel Engineers Pvt Ltd.  (India)
• AL ITTEFAQ STEEL PRODUCTS CO. (Saudi Arabia)
• DWK Drahtwerk Kln GmbH (Germany)
• FAPRICELA (Portugal)
• Guizhou Wire Rope Incorporated Company (China)
• Gulf Steel Strands (UAE)
• Henan Hengxing Sciecnce & Technology Co., Ltd. (China)
• KISWIRE LTD. (South Korea)
• SHAGANG GROUP Inc (China)
• Sumiden Wire. (U.S.)