(MENAFN- EIN Presswire)
Prestressed Concrete (PC) Wire and Strand market Size, Share, Competitive Landscape and Trend Analysis
WILMINGTON, DE, UNITED STATES, November 5, 2024 /EINPresswire / -- The prestressed concrete (PC) wire and strand market has seen significant growth, largely driven by rising population and urbanization, which
fuel demand for new
construction projects. Additionally, infrastructure developments-such as bridges, stadiums, railways, and elevated roads-have positively influenced market expansion. According to a recent report by Allied Market Research titled“Prestressed Concrete (PC) Wire and Strand Market,” the market was valued at $5.2 billion in 2022 and is projected to reach $9.1 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
PC wire and strand materials consist of high-strength steel wires twisted together, primarily for use in prestressed concrete construction. These materials are stretched to introduce compression in concrete components like beams, slabs, and railway sleepers, enhancing their strength and durability-especially in long-span elements.
Download PDF Sample:
The market is segmented by type into 3-wire and 7-wire strands, among others. In 2022, the 7-wire strand segment held the largest market share in terms of revenue, while the 3-wire strand segment is expected to grow at a higher CAGR during the forecast period.
Application-wise, the market is divided into pre-tensioning, bonded post-tensioning, and unbonded post-tensioning. In 2022, the pre-tensioning segment led the market in revenue, though bonded post-tensioning is expected to achieve the highest growth rate. Bonded post-tensioning is valued for its ease of maintenance and effective compression transfer to concrete structures. Demand for pre-tensioning is anticipated to grow with the rise in off-site construction, where concrete components like beams, girders, and poles are manufactured in factories.
By end-user, the market is segmented into building construction and infrastructure, with the infrastructure segment accounting for the largest market share in 2022. This growth is attributed to projects like bridges, airports, and ports.
The PC wire and strand market's growth is primarily driven by urbanization and population increases. Rapid infrastructure expansion in developing economies also supports market growth, though fluctuating raw material costs present a challenge. Advancements in manufacturing and metallurgy are expected to offer new opportunities for market players.
In 2022, the Asia-Pacific region led the global market in revenue, with the LAMEA region projected to grow at the highest CAGR over the forecast period. Development in countries such as China, India, Vietnam, and Indonesia, alongside urbanization and population growth, will likely continue to drive market expansion. For instance, in January 2023, China began constructing the Husong High-speed Road, linking Songjiang with major transport hubs; this project, featuring multiple elevated segments, is expected to be completed by 2027. Additionally, Statista reports that the number of road bridges in China rose by 46% from 2010 to 2021.
However, inflation pressures due to the Ukraine-Russia conflict have affected many companies within the PC wire and strand market, increasing costs for raw materials and energy. With no peace resolution anticipated in the near future, inflation is likely to remain a challenge.
Full Report With TOC:
Key Findings of the Study
The 7-wire strand segment led the market by revenue in 2022.
By application, bonded post-tensioning dominated the market in 2022.
The infrastructure segment held the highest revenue share in 2022.
Asia-Pacific led the market in 2022, while LAMEA is projected to see the highest growth rate.
The report profiles key players in the market and examines their strategies to provide a comprehensive view of competitive dynamics.
Extensive analysis of current trends and new opportunities is included, with forecasts for key segments from 2023 to 2032.
Construction news
Construction Trending
Construction blog
David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN05112024003118003196ID1108851222
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.