According to the latest report by IMARC Group, titled “Prestressed Concrete (PC) Wire and Strand Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global prestressed concrete (PC) wire and strand market analysis.The report also includes competitor and regional analysis, and contemporary advancements in the market.What are the growth prospects of the prestressed concrete (PC) wire and strand Industry?

The global prestressed concrete (PC) wire and strand market size reached US$ 883.63 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of  US$ 1,142.15 Million by 2027, exhibiting a growth rate (CAGR) of 4.20% during 2022-2027.

What Is A Prestressed Concrete (PC) Wire And Strand ?

Prestressed concrete (PC) wire and strand represent high-grade and low-unwinding steel wires that are stress relieved or stabilized and are essentially used to counter the low-pressure characteristics innate in concrete. In terms of the coating type, it can be categorized into uncoated PC strands, galvanized pc strands, epoxy-coated PC strands, etc.

These PC wire strand variants offer excellent stability and resistance to extreme temperature, water, abrasion, lubricity, and crack and form a key component in the manufacturing of precast concrete elements, poles, soil and rock anchors, etc. As a result, PC wire and strand models find extensive applications across various sectors, such as railroad, construction, and others.

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What Are The Key Factors Driving In The Prestressed Concrete (PC) Wire And Strand  Market ?

The growing construction of residential and commercial buildings, on account of the rapid industrialization, urbanization, and considerable rise in renovation and remodeling activities, are primarily driving the prestressed concrete (PC) wire and strand market. In line with this, the inflating investments in constructing bridges, flyovers, auditoriums, hospitals, heritage sites, shopping malls, hospitals, and other public structures are also positively influencing the market growth.

Apart from this, the elevating popularity of offsite or prefab construction and the escalating usage of PC in cement poles, crane beams, multi-factory frameworks, railway sleepers, etc., are acting as significant growth-inducing factors. Moreover, the launch of several policies by the government bodies across countries aimed at supporting real estate and mega infrastructure projects to promote economic growth and the increasing focus among leading players on improving manufacturing technologies and introducing advanced products with optimal efficiency and strength are expected to propel the prestressed concrete (PC) wire and strand market in the coming years.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

Report 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

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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