IMARC Group, a leading market research company, has recently releases report titled “Prestressed Concrete Wire and Strand Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global prestressed concrete wire and strand market trends, share, size, growth and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Prestressed Concrete Wire and Strand
Prestressed concrete (PC) wire and strand are integral components within the construction industry that play a vital role in reinforcing concrete structures. They are specialized materials that are engineered to enhance the structural integrity and durability of concrete, which makes them essential in a wide array of construction projects. They assist in minimizing cracking and deformation in concrete and ensuring that buildings, bridges, and other infrastructure withstand harsh environmental conditions. As they act as a reinforcement element in precast concrete components, the demand for PC wire and strand is increasing around the world.
How Big Is the Prestressed Concrete Wire and Strand Market?
The global prestressed concrete (PC) wire and strand market size reached US$ 926 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,185 Million by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
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What are the growth prospects and trends in the prestressed concrete wire and strand industry?
At present, the rising adoption of PC wires and strands, as they offer improved stability and resistance to abrasion, represents one of the primary factors strengthening the market growth. Apart from this, the increasing focus on sustainable construction practices is bolstering the growth of the market.
Moreover, advancements in PC wire and strands technology, such as corrosion-resistant coatings and innovative alloys, are providing lucrative growth opportunities to industry players. In line with this, the increasing construction of buildings, parking structures, hotels, and auditoriums across the globe is supporting the growth of the market.
Besides this, the rising adoption of PC wire and strands, as they benefit in neutralizing external forces, such as stress and compression, is contributing to the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Coating Type:
- Uncoated PC Strand
- Galvanized PC Strand
- Epoxy Coated PC Strand
- Others
Breakup by Type:
- Prestressed PC Steel Wire
- Plain PC Wire
- Indented PC Wire
- Spiral Ribbed PC Wire
Breakup by Application:
- Bridges
- Buildings
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
AL ITTEFAQ STEEL PRODUCTS CO., ArcelorMittal S.A., DWK Drahtwerk Köln GmbH, FAPRICELA, Guizhou Wire Rope Incorporated Company, Henan Hengxing Science Technology Co. Ltd., Insteel Engineers Pvt Ltd., Quantum Steel, Southern Steel Group, Sumiden Wire and Usha Martin Ltd.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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