Prestressed Concrete (PC) Wire and Strand Market Size, Company Revenue Share, Key Drivers, and Trend Analysis, 2021–2027
The Global Prestressed
Concrete (PC) Wire and Strand Market is projected to reach USD 260.8
million in 2027. Countries around the world are investing heavily in the
infrastructure sector. This along with growth of offsite construction and rapid
urbanization taking place around the world is expected to drive the market’s
growth during the forecast period.
Governments around the world are
aiming to strengthen their infrastructure and allocating a huge amount of
budgets in this sector. This is leading to large scale construction activities.
Apart from this rapid urbanization is taking place, which is leading to the
development of massive real estate projects, flyovers or bridges, malls,
hotels, hospitals. These factors are having a massive positive impact on the
market under study. The consumption of products is continuously increasing
resulting in huge amount of revenue. As a result, several startups are also
entering the market in order to cater to the continuously growing demands from
the end-use industries. Changing lifestyle of people, an increase in the
average disposable income of people, is also acting as catalysts in the
market’s growth.
Although the prospects of the industry
are quite bright, there are some factors that are creating concerns for the
major manufacturers. A slowdown in global trade has been noticed across many sectors
in recent times, and the situation has become worse after the outbreak of the
COVID-19 pandemic. Thus major players in the market are not making expected
profits, and this may be quite discouraging for them. Apart from this, the
demand for steel is also decreasing, and this is affecting the market’s growth
since steel is the most important raw material used in manufacturing the
products. These factors are predicted to restrain the market’s growth during
the forecast period.
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Key
players in the market include ArcelorMittal,
Bekaert, FAPRICELA, Henan Hengxing Science & Technology Co. Ltd, Shagang Group,
Insteel, Kiswire Limited, Sumiden Wire, Usha Martin and The Siam Industrial
Wire Company Limited, among others.
Further
key findings from the report suggest
- The
galvanized products segment is expected to steadily increase its market
share during the forecast period since it finds its usage in construction
of tall buildings. The consumption from real estate sector would primarily
drive the segment’s growth.
- Medium
Carbon Content products have low market share but is expected to witness
slight growth due to its usage in architectural building components.
- Bridges
& Flyovers application segment is expected to be the fastest growing
segment due to rapid urbanization across the world. PC strands are
extensively used in various components of flyovers.
- USA would
act as the primary consumer of the market products in the North American
region due to increasing investments in infrastructure sector as well as
rapid urbanization.
- In May 2020,
ArcelorMittal has received a loan of EUR 75 million for two projects Steelanol
and Torero which are meant for aimed at reducing CO2 emissions
by 350,000 tonnes per year.
- In March
2019, Bekaert expressed its intentions of restructuring its activities in
Belgium. Recently the company has developed Dramix steel fiber concrete reinforcement
solutions and would showcase its strengths in the TurkeyBuild2020.
- FAPRICELA
has recently launched products like PC STRAND COMPACTED 7 WIRES, PC STRAND
3 WIRES, PC STRAND 2 WIRES, HDPE COATED SMOOTH STRAND amongst others.
- There have
been a number of M&A in the industry like Insteel Wire Products
company acquiring certain assets of Ortiz Engineered Products Inc in 2017,
Shagang Group acquiring 24.01% stakes of Global Switch Holdings Ltd in
2019 and Insteel Wire Products Company acquiring all assets of Strand-Tech
Manufacturing Inc in 2020.
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For the purpose of this report, Reports and
Data have segmented into the global Prestressed Concrete (PC) Wire and Strand
Market market on the basis of Surface Coatings, Carbon Content, Application and
region:
Surface Coatings
Outlook (Revenue, USD Billion; 2020-2027)
- Uncoated
- Galvanized
- Epoxy
- Others
Carbon Content
Outlook (Revenue, USD Billion; 2020-2027)
- High Carbon Content
- Medium Carbon Content
- Low Carbon Content
Application
Outlook (Revenue, USD Billion; 2020-2027)
- Bridges & Flyovers
- Buildings
- Railroad Industry
- Construction Equipment
- Others
Market Drivers:
The constant efforts of the prominent
players to develop innovative products and technologies are driving the growth
of the industry. Additionally, the market is witnessing numerous strategic
collaborations and initiatives that are expanding the scope of the market. The
report discusses in detail the factors and elements of the Prestressed Concrete
(PC) Wire and Strand market that are positively influencing the growth of the
market.
Regional Analysis:
The report offers clear insights into
the regional bifurcation of the market with regards to the regions where the
market has already established its prominence. Furthermore, it analyzes the key
regions for production and consumption ratio, import/export analysis, supply
and demand dynamics, regional trends and demands, and the presence of prominent
players in each region. The regional analysis segments also offer a
country-wise analysis to offer a panoramic view of the market.
The regional analysis covers:
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of
EU)
· Asia Pacific (India, Japan, China, South
Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest
of Latin America)
· Middle East & Africa (Saudi Arabia,
U.A.E., South Africa, Rest of MEA)
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Competitive Landscape:
The report offers a comprehensive
overview of the competitive landscape of the market to provide an advantage to
the reader. This segment focuses on the initiatives and innovations adopted by
the key players to gain a strong foothold in the market. The report also sheds
light on mergers and acquisitions, joint ventures, collaborations,
partnerships, and agreements, among others, to offer a better understanding of
the market. The report also offers insights into revenue, gross profit margin,
financial standing, market position, product portfolio, and other vital aspects
of each player. The report also includes a thorough SWOT analysis and Porter’s
Five Forces analysis.
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