Pre-stressed Concrete Strands and Wires Market: Introduction
The artificial compression stress applied to neutralize tensile stress deployed by exterior forces is termed as pre-stress and the structures constructed with pre-stress is known as pre-stressed concrete. The wire or strand used on pre-stressed concrete structure is known as pre-stressed wire or strand. When force is applied to this concrete, pre-stressing is introduced to counter the stresses resulting from the applied load. Pre-stressed wires and strands are used as a medium to attain a force that can neutralize external forces such as stress or compression. Pre-stressed concrete forms an integral part of bridges and commercial and residential building constructions. Wire for pre-stressed concrete is made from steels strongly alloyed with carbon.
Global Pre-stressed Concrete Strands and Wires Market: Key Trends and Developments
Increasing infrastructure activities in developing nations such as India, Vietnam, Chile, and Saudi Arabia is a key factor driving the global pre-stressed concrete strands & wires market. Moreover, an increase in the number of bridge construction and building construction are projected to boost the global pre-stressed concrete strands & wires market during the forecast period. According to National Precast Concrete Association, the construction industry is growing with high rapid pace. However, reducing oil and gas prices is likely to reduce transportation costs on behalf of the construction industry, which will over again makes relatively inexpensive to accomplish various operational activities. The forthcoming years is thus estimated to record a significant increase in the number of construction activities in the world, resulting in consequent growth of the global market. Furthermore, fabrication and assembling & installation of pre-stressed concrete strands & wires require of skilled worker. This is anticipated to hinder the global market.
Global Pre-stressed Concrete Strands and Wires Market: Segmentation
The global pre-stressed concrete strands and wires market can be segmented based on surface coating, application, and region. In terms of surface coating, the market can be segregated into uncoated, galvanized, and epoxy. The galvanized coatings segment accounted for a major share of the market in 2018 due to its superior properties such as high resistance to rust and carbonation. This coatings provides better stability to tall buildings.
Based on application, the global pre-stressed concrete strands and wires market can be divided into bridges, buildings, and others. The others segment encompasses stadiums, tunnels, roadwork, and railway sleepers. Key application of the pre-stressed concrete stands & wires is in the construction of bridges and buildings. Growth in the real estate sector in developing economies is likely to be fuel the segment. Furthermore, increasing urbanization in developing economies is expected to drive the demand for building.
Global Pre-stressed Concrete Strands and Wires Market: Regional Outlook
In terms of region, the global pre-stressed concrete strands and wires market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a significant share of the pre-stressed concrete strands and wires market during the forecast period due to the rise in emergence of high end-use applications in countries such as China, Vietnam, Indonesia, Malaysia, South Korea, and India. Developing countries such as India, Malaysia, and South Africa are investing in various bridge projects to connect remote areas of the country to urban areas. This factor is projected to drive the global market during the forecast period. The pre-stressed concrete strands and wires market in North America is estimated to expand at a substantial pace during the forecast period. The construction industry in the region is a key consumer of pre-stressed concretes strands & wires owing to their inherent benefits and wide applications. The U.S. is anticipated to account for a major share of the market in North America during the forecast period. Increase in construction activities in countries such as Brazil and growth in the aviation industry are estimated to boost the pre-stressed concrete strands and wires market in Latin America.
Global Pre-stressed Concrete Strands and Wires Market: Key Players
Key players operating in the global pre-stressed concrete strands and wires market include ARCELORMITTAL S.A., Çelik Halat ve Tel Sanayii A.?., INSTEEL ENGINEERS, AL ITTEFAQ STEEL PRODUCTS CO., Bekaert, DWK Drahtwerk Köln GmbH, FAPRICELA, GUIZHOU WIRE ROPE CO., LTD., GULF STEEL STRANDS, Henan Hengxing Sciecnce & Technology Co., Ltd., and HUBEI FUXING SCIENCE AND TECHNOLOGY CO. LTD.