The Prestressed Concrete (PC) Wire and Strand market is growing at a CAGR of 5.6% from 2023 to 2032
PORTLAND, OREGON, UNITED STATES, November 6, 2023 /EINPresswire.com/ — The global prestressed concrete (PC) wire and strand market size was valued at $5.2 billion in 2022, and is projected to reach $9.1 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032
The Prestressed Concrete (PC) Wire and Strand Market includes a wide range of high-strength steel wires and strands that are made by twisting together two or more than two wires. They are relatively newer materials primarily used for the construction of prestressed concrete. These wires and strands are stretched to introduce compression inside concrete elements such as beams, slabs, railway sleepers, and others to increase their strength and durability, especially for long-span concrete elements.
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Top Leading Companies: Davis Wire Industries Ltd., ArcelorMittal, Miki Steel Works Pvt. Ltd., Sumitomo Electric Industries, Ltd. (Sumiden Wire), Tata Steel Limited, TMG Global Pte Ltd., Kataria Group, NV Bekaert SA, Insteel Industries, Inc., Kiswire Co Ltd.
By type, prestressed concrete (PC) wire and strand market is divided into 3 wire strand, 7 wire strand, and others. In 2022, the 7 wire strand segment dominated the prestressed concrete (PC) wire and strand market share, in terms of revenue, and the 3 wire strand segment is expected to grow with a higher CAGR during the forecast period.
By application, the prestressed concrete (PC) wire and strand market is divided into pre-tensioning, bonded post-tensioning, and unbonded post-tensioning. In 2022, the pre-tensioning segment dominated the prestressed concrete (PC) wire and strand market, in terms of revenue, and the bonded post-tensioning is expected to dominate the prestressed concrete (PC) wire and strand market forecast by growing with a higher CAGR.
In prestressed concrete, steel wires or strands are pre-tensioned or post-tensioned to induce compressive stresses in the concrete, effectively countering the tensile forces that may act upon the structure. This method enhances the structural integrity, reduces cracking, and increases the load-bearing capacity of concrete components, making it an integral part of modern construction.
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The global PC wire and strand market is set for continued growth as the construction industry expands and diversifies. Innovations in materials, manufacturing processes, and sustainability are likely to shape the industry’s future. With a growing emphasis on sustainable construction and smart infrastructure, PC wire and strand will continue to be key enablers of resilient and long-lasting structures.
Bonded post-tensioning PC wire and strand are easy to maintain and offer effective transfer of compression to the concrete structure. However, the demand for pre-tensioning is expected to increase with the rise in off-site construction, where concrete structures such as beams, girders, slabs, electric poles, and others that are constructed in factories.
Prestressed Concrete (PC) wire and strand are indispensable components of modern construction, enabling the creation of stronger and more durable structures. The market for PC wire and strand is evolving with technological advancements, sustainability initiatives, and government regulations. As innovation continues to drive the industry, we can expect to see even more durable and environmentally friendly materials, automation, and digitalization playing a crucial role in shaping the future of construction.
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