PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1239701
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1239701
Global Prestressed Steel Wire and Strands Market Overview
According to SPER Market Research, the Global Prestressed Steel Wire and Strands Market is estimated to reach USD 1.404 billion by 2032 with a CAGR of 4.25%.
High-strength steel wires make up prestressed steel wires and strands, which are then stabilized or relieved of tension for use in prestressed applications. Some of the key characteristics of prestressed steel wire and strands include high tensile strength, constant modulus of elasticity, low relaxation, stress-relieved, stable construction, low stress, reducing distortion and construction weight, high abrasion resistance, material savings, significant water resistance, as well as stiffness. These are primarily used for the reinforcement of a variety of prestressed structures, including silos, major bridges, dams, buildings, foundations, and floor slabs as well as stadiums, pre-cast segments, airport hangars, anchorages, multi-story industrial buildings, crane beams, and buildings with a lot of concrete. They are employed in the building of poles, water towers, and highways in civil engineering, as well as in energy source marine transportation, water control initiatives, rock and earth anchoring components, and housing structures for a higher tensile force.
The accelerating rate of industrialisation is advantageous for the global market. The Loma Linda University Medical Center in California, Tisch Hospital in New York, and Lucile Packard Children's Hospital at Stanford are just a few of the significant initiatives underway in the United States. Various columns and slabs of these buildings are constructed using pre-stressed steel wires and strands. The businesses are concentrating on creating a production environment that is technologically advanced. Since they only require raw materials made of steel, such as bars, rods, ropes, and wires, the majority of these businesses also serve as suppliers. The companies' surviving production technologies are primarily proprietary. As a result, the market is operating in an environment that is forward-integrated. An increase in infrastructure spending is being caused by the world's aging buildings and infrastructure. Long-term, the increase in infrastructure spending will probably be beneficial for the prestressed steel wire and strands industry.
Impact of COVID-19 on the Global Prestressed Steel Wire and Strands Market
The COVID-19 epidemic has had a significant impact on the steel sector. Numerous nations had to go into lockdown in order to contain the growing number of cases due to the pandemic scenario. The result has been a disruption in the demand and supply chains, which has had an impact on the global market. Due of the pandemic crisis, several operations, manufacturing facilities, and infrastructure projects had to be suspended.
The COVID-19 epidemic and fluctuating raw material prices have slowed the global market's expansion. On the plus side, things are beginning to return to normal, which bodes well for future market growth. Additionally, the resumption of the global recycling industry and the development of vaccinations against the novel coronavirus would lead to the full-scale restart of the prestressed steel wire and strands business.
Scope of the Report:
Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032
Segments covered By Product, By Coating Type, By Application
Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered
Baekert, CELIK HALAT ve Tel Sanayii A.S, DNA PC Strand, DWK Drahtwerke Koln GmbH, FAPRICELA - Industria de Trefilaria, Henan Hengxing Science & Technology Co. Ltd., Hjulsbro Steel AB, Hubei Fuxing New Material Technology Co. Ltd., Insteel Industries Inc., KISWIRE Ltd., Maklada , NEDRI Spanstaal BV
Global Prestressed Steel Wire and Strands Market Segmentation:
By Product: Based on the Product, Global Prestressed Steel Wire and Strands Market is segmented as; Strand, Wire.
By Application: Based on the Application, Global Prestressed Steel Wire and Strands Market is segmented as; Bridges & Flyovers, Construction Equipment, Energy, Railroad Industry, Others.
By Region: The market with the largest share is in Asia Pacific. The second-best performer in the market is from Europe. In the Asia Pacific, China produces the most prestressed steel wires and strands, followed by Japan, India, and Korea.