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Prestressed Concrete (PC) Wire and Strand Market - By Product Type (Prestressed Concrete (PC) Wire, Prestressed Concrete (PC) Strand), By Coating Type (Uncoated, Galvanized, Epoxy Coated), By End-Use (Construction, Infrastructure, Oil & Gas, Power) By Distribution Channel, Forecast 2024 - 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Prestressed Concrete (PC) Wire and Strand Market - By Product Type (Prestressed Concrete (PC) Wire, Prestressed Concrete (PC) Strand), By Coating Type (Uncoated, Galvanized, Epoxy Coated), By End-Use (Construction, Infrastructure, Oil & Gas, Power) By Distribution Channel, Forecast 2024 - 2032

Prestressed Concrete Wire and Strand Market Size

Prestressed Concrete Wire and Strand Market size was valued at around USD 8.6 Billion in 2023 and is estimated to register a CAGR of around 4.7% between 2024 & 2032. Prestressed concrete is commonly used in the construction of highways, expressways, and roads. PC wires and strands are essential for creating durable and long-lasting concrete pavement, which can withstand heavy traffic loads and harsh environmental conditions. Infrastructure projects aimed at expanding and modernizing road networks contribute to the growth of the market.

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The American Road and Transportation Builders Association (ARTBA) released a report on August 18th regarding the condition of bridges in the United States. The report revealed that 36 percent, or 222,000 bridge spans across the nation, require significant maintenance and should be replaced. With a growing emphasis on sustainability in the construction industry, there is a rising demand for materials that reduces environmental impact, which in turn drives business expansion.

Prestressed Concrete Wire and Strand Market Report Attributes
Report Attribute Details
Base Year 2023
Prestressed Concrete Wire and Strand Market Size in 2023 USD 8.6 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 4.7%
2032 Value Projection USD 12.9 Billion
Historical Data for 2021 - 2023
No. of Pages 360
Tables, Charts & Figures 400
Segments covered product type, coating type, end-use, distribution channel, region
Growth Drivers
  • Infrastructure Development
  • Technological Advancements
  • Retrofitting and Rehabilitation Projects
Pitfalls & Challenges
  • High Initial Investment

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The adoption of prestressed concrete technology requires significant upfront investment in specialized equipment, facilities, and skilled labor. This high initial investment can act as a barrier to entry for smaller construction companies or projects with limited budgets, limiting market growth. The PC wire and strand market is closely tied to the construction industry, which is inherently cyclical and susceptible to economic downturns. During periods of economic recession or slowdown, construction activity decreases, leading to reduced demand for PC wires and strands and impacting market growth.

Prestressed Concrete Wire and Strand Market Trends

The swift pace of urbanization worldwide creates a heightened demand for additional residential, commercial, and industrial areas. In urban settings, PC wires and strands find extensive application in erecting high-rise buildings and various other structures, thereby fueling the demand for these construction materials. This surge in demand is exemplified by statistics from the United Nations in 2023, that the urban population share increased to approximately 57 percent by 2022.

Prestressed Concrete Wire and Strand Market Analysis

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Based on the product type, the market is segmented into prestressed concrete wire and prestressed concrete strands. In 2023, the prestressed concrete strands segment accounted for revenue of around USD 5.7 Billion in the year 2023 and is expected to reach USD 8.6 billion by 2032. Structures built using prestressed concrete strands are known for their high safety standards.

The pre-stressing process helps mitigate the risk of structural failures, ensuring the safety of occupants and the surrounding environment. Prestressed concrete strands contribute to the longevity of concrete structures by minimizing the effects of shrinkage, creep, and environmental factors such as corrosion. This results in structures that can withstand the test of time with minimal maintenance, thus enhancing business demand.

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Imagine using special wires and strands to make bridges and other structures stronger and longer-lasting. That's what prestressed concrete wire and strand is used for in construction, oil and gas pipelines, power plants, and even everyday buildings. Right now, the construction industry is using the most of these special wires. In fact, over half of the market for them is in construction. Why? Because governments and companies are investing heavily in building and fixing bridges and roads. And because of that, the demand for these wires and strands is expected to keep growing over the next ten years. One big reason for this is that prestressed concrete is used in a lot of these bridge projects. It's like super-strong concrete that can handle heavier loads and span longer distances without breaking. And guess what? Those special wires and strands are what make that possible!

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Around 40% of the global market for PC wires and strands is currently in the Asia-Pacific region. And this number is only expected to grow to around 42% by 2032. This is largely due to the rapid urbanization happening in the region, which requires a lot of infrastructure development, such as building homes, businesses, and transportation systems. China's Belt and Road Initiative (BRI) and India's Smart Cities Mission are just two of the many initiatives that are driving these infrastructure projects. China's growing involvement in the Asia-Pacific region through investments in construction and other areas is also helping to expand the market for PC wires and strands. In 2023 alone, China made about 94 deals worth USD 37 billion in the region.

Prestressed Concrete Wire and Strand Market Share

The PC wire and strand industry is moderately fragmented with several regional players across the globe. In 2023, dominant market players, include ArcelorMittal, Tata Steel, Insteel Industries, Bekaert, and JFE Steel Corporation. These companies often leverage their existing distribution networks and resources to expand into new markets. Leading players in the industry actively engage in strategic initiatives such as mergers and acquisitions, expanding facilities, and forming partnerships to broaden their range of products, reach more customers, and strengthen their presence in the market.

Prestressed Concrete Wire and Strand Market Companies

Major players operating in the prestressed concrete wire and strand industry are

  • ArcelorMittal
  • Bekaert
  • Deacero S.A. de C.V.
  • Fapricela - Fábrica de Produtos de Cimento, S.A.
  • Insteel Industries
  • JFE Steel Corporation
  • Jiangxi Xinhua New Material Co., Ltd.
  • Kataria Group
  • Kiswire Ltd.
  • Kiswire Ltd.
  • N.V. Bekaert S.A.
  • Siam Industrial Wire Co., Ltd.
  • Sumiden Wire Products Corporation
  • Taihan Electric Wire Co., Ltd.
  • Tata Steel

Prestressed Concrete Wire and Strand Market News

  • On January 3, 2023, ArcelorMittal finalized the acquisition of Riwald Recycling ("Riwald"), a cutting-edge ferrous scrap metal recycling enterprise located in the Netherlands, aligning with its decarbonization strategy. Additionally, on March 10, 2023, ArcelorMittal completed the acquisition of Italpannelli Germany, a German manufacturer of insulation panels. This acquisition enhances ArcelorMittal Downstream Solutions' construction division by complementing its existing geographic presence and bolstering its product portfolio. The combined cash consideration for both acquisitions amounted to $154 million.
  • On December 29, 2022, ArcelorMittal announced its acquisition agreement with Zak?ad Przerobu Z?omu ("Z?omex"), a Polish scrap metal recycling business. Z?omex, which operates scrap yards in Krakow and Warsaw, processed and shipped nearly 400,000 tonnes of ferrous scrap metal last year. It supplies steel mills and foundries, maintains strong relationships, and has been a reliable supplier to ArcelorMittal's steel plants in D?browa Górnicza and Warsaw. Z?omex focuses on ferrous scrap metal and expanded its Krakow operations in 2022 by installing new shredders and separation equipment, while also investing in enlarging its Warsaw yard. ArcelorMittal is dedicated to supporting Z?omex's ongoing growth strategy.

The prestressed concrete wire and strand market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) Volume (Kilo Tons) from 2021 to 2032, for the following segments

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Market, By Product Type

  • Prestressed Concrete (PC) Wire
  • Prestressed Concrete (PC) Strand

Market, By Coating Type

  • Uncoated
  • Galvanized
  • Epoxy Coated
  • Others (polyethylene (PE), polypropylene (PP), etc)

Market, By End-Use

  • Construction
  • Infrastructure
  • Oil & Gas
  • Power
  • Others (Mining, Cement Manufacturing, etc)

Market, By Distribution Channel

  • Direct
  • Indirect

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Malaysia
    • Indonesia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1   Market scope & definitions

1.2   Research design

1.2.1    Research approach

1.2.2    Data collection methods

1.3   Base estimates & calculations

1.3.1    Base year calculation

1.3.2    Key trends for market estimation

1.4   Forecast model

1.4.1    Primary research and validation

1.4.2    Primary sources

1.4.3    Data mining sources

Chapter 2   Executive Summary

2.1   Industry 3600 synopsis, 2021-2032

Chapter 3   Industry Insights

3.1   Industry ecosystem analysis

3.1.1    Factors affecting the value chain

3.1.2    Profit margin analysis

3.1.3    Disruptions

3.1.4    Future outlook

3.1.5    Manufacturers

3.1.6    Distributors

3.1.7    Retailers

3.2   Key news & initiatives

3.3   Regulatory landscape

3.4   Impact forces

3.4.1   Growth drivers

3.4.1.1    Infrastructure development

3.4.1.2    Technological advancements

3.4.1.3    Retrofitting and rehabilitation projects

3.4.2   Industry pitfalls & challenges

3.4.2.1    High initial investment

3.5   Growth potential analysis

3.6   Porter’s analysis

3.7   PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1   Introduction

4.2   Company market share analysis

4.3   Competitive positioning matrix

4.4   Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Product Type, 2021-2032 (USD Billion) (Kilo Tons)

5.1   Key trends

5.2    Prestressed Concrete (PC) Wire

5.3    Prestressed Concrete (PC) Strand

Chapter 6   Market Estimates & Forecast, By Coating Type, 2021-2032 (USD Billion) (Kilo Tons)

6.1   Key trends

6.2   Uncoated

6.3   Galvanized

6.4   Epoxy coated

6.5   Others (polyethylene (PE), polypropylene (PP), etc)

Chapter 7   Market Estimates & Forecast, By End-Use, 2021-2032 (USD Billion) (Kilo Tons)

7.1   Key trends

7.2   Construction

7.3   Infrastructure

7.4   Oil & Gas

7.5   Power

7.6   Others (Mining, Cement Manufacturing, etc)

Chapter 8   Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Billion) (Kilo Tons)

8.1   Key trends

8.2    Direct

8.3    Indirect

Chapter 9   Market Estimates & Forecast, By Region, 2021-2032 (USD Billion) (Kilo Tons)

9.1   Key trends

9.2   North America

9.2.1   U.S.

9.2.2   Canada

9.3   Europe

9.3.1   UK

9.3.2   Germany

9.3.3   France

9.3.4   Italy

9.3.5   Spain

9.3.6   Rest of Europe

9.4   Asia Pacific

9.4.1   China

9.4.2   India

9.4.3   Japan

9.4.4   South Korea

9.4.5   Indonesia

9.4.6   Malaysia

9.4.7   Rest of Asia Pacific

9.5   Latin America

9.5.1   Brazil

9.5.2   Mexico

9.5.3   Rest of Latin America

9.6   MEA

9.6.1   South Africa

9.6.2   Saudi Arabia

9.6.3   UAE

9.6.4   Rest of MEA

Chapter 10   Company Profiles

10.1    ArcelorMittal

10.2    Bekaert

10.3    Deacero S.A. de C.V.

10.4    Fapricela - Fábrica de Produtos de Cimento, S.A.

10.5    Insteel Industries

10.6    JFE Steel Corporation

10.7    Jiangxi Xinhua New Material Co., Ltd.

10.8    Kataria Group

10.9    Kiswire Ltd.

10.10    Kiswire Ltd.

10.11    N.V. Bekaert S.A.

10.12    Siam Industrial Wire Co., Ltd.

10.13    Sumiden Wire Products Corporation

10.14    Taihan Electric Wire Co., Ltd.

10.15    Tata Steel
 

  • ArcelorMittal
  • Bekaert
  • Deacero S.A. de C.V.
  • Fapricela - Fábrica de Produtos de Cimento, S.A.
  • Insteel Industries
  • JFE Steel Corporation
  • Jiangxi Xinhua New Material Co., Ltd.
  • Kataria Group
  • Kiswire Ltd.
  • Kiswire Ltd.
  • N.V. Bekaert S.A.
  • Siam Industrial Wire Co., Ltd.
  • Sumiden Wire Products Corporation
  • Taihan Electric Wire Co., Ltd.
  • Tata Steel

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