Prestressed concrete (PC) wires and strands have the ability to balance tensile stresses caused by bending loads. They exhibit excellent corrosion resistance, low relaxation, and consistent mechanical properties. Some of the common types of PC wires and strands are epoxy coated, uncoated, and galvanized.
Bridges to Remain Dominant Application Segment until 2025
Prestressed concrete wires and strands are primarily used in the construction of bridges and buildings. Apart from these, they are also used in the construction of roads, tunnels, stadiums, and railway sleepers. Bridges are anticipated to be the leading application segment of the product through 2025. Governments of emerging economies such as Malaysia, South Africa, and India are allocating significant budgets for construction of bridges in order to connect remote areas of their countries to urban areas. In addition, increasing investments in infrastructure development can contribute to the growth of the segment. Rising traffic congestion owing to rapid urbanization and growing population is also expected to supplement the growth of the segment.
Demand for PC wires and strands in the construction of buildings is poised to witness a spike over coming years. Growing popularity of high-rise construction along with flourishing real estate sector, especially in developing nations, can create a staggering volume of demand for the product. Besides this, increasing urbanization in developing countries can drive the growth of the segment.
Market Insights
According to a report by Grand View Research, Inc.; the global prestressed concrete (PC) wire and strand market is projected to expand at a CAGR 2.5% between 2017 and 2025. It is imperative for market players to meet all safety regulations and standards to ensure quality and safety of products. For instance, strands manufactured by Tata Steel Global Wires meet national and international standards such as BE 5896-2012, IS14268, AS/NZS 4672, ASTM A416/416M, and EN-10138-3. Therefore, increasing attempts by manufacturers to adhere to safety standards can work in favor of the market.
Asia Pacific will be the most prominent destination for key players in the market throughout the forecast horizon (2014–2025). Rapid expansion of the construction sector is likely to stimulate market growth in the region. Some of the prominent companies operating in the global arena are Henan Hengxing Science&Technology Co., Ltd, ArcelorMittal, Usha Martin, Insteel, and Sumiden Wire.
In-Depth Research Report On Fire Prestressed Concrete (PC) Wire and Strand Market:
https://www.grandviewresearch.com/industry-analysis/prestressed-concrete-pc-wire-strand-market
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