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.

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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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Based on end-use the PC wire and strand market is segmented into construction, infrastructure, oil & gas, power, and others. In 2023, the infrastructure segment emerged as the dominant, commanding a market share of around 52% and expected to reach 53% by 2032. Infrastructure projects such as bridge construction and rehabilitation require the use of prestressed concrete technology. prestressed concrete wires and strands are crucial components used to reinforce and prestress concrete elements in bridges, enabling them to span longer distances and withstand heavier loads. As countries invest in upgrading and expanding their bridge infrastructure to improve transportation networks, the demand for prestressed concrete wires and strands increases.

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The Asia Pacific region currently holds the largest market share of around 40% and is expected to reach around 42% by 2032. The Asia-Pacific region is witnessing rapid urbanization, driving significant demand for infrastructure development, including residential, commercial, and transportation projects, all requiring PC wires and strands. This demand is further fueled by substantial investments in infrastructure projects by various countries, supported by initiatives like China's Belt and Road Initiative (BRI) and India's Smart Cities Mission. China's increased engagement in the Asia-Pacific region through construction and non-financial investments, with approximately 94 deals worth USD 37 billion in 2023, is expected to contribute to market expansion.

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