Prestressed Steel Wire And Strands Market is predicted to reach USD 5,118.4 million at a CAGR of 4.79% during the forecast period :

Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Prestressed Steel Wire And Strands Market.


Market Synopsis


The global   market is projected to register healthy growth during the forecast period, 2022–2030. The market was valued at USD 3,417.7 in 2021 and is projected to register a CAGR of 4.79% to reach USD 5,118.4 million by the end of 2030.


The increasing demand for epoxy-coated prestressing steel strands in various end-use applications such as railroad industry is expected to boost the demand for prestressed steel strand and, hence, favor the global market's growth in the years to follow. Likewise, increasing use of prestressed steel strands for energy sector in various applications, including wind turbines, nuclear reactor shields, and liquefied natural gas (LNG) tanks, are projected to propel the market growth during the review period. Furthermore, the growing demand for energy-efficient buildings is projected to create lucrative opportunities for players operating in the global prestressed steel wire and strands market.


Access full report @ https://www.marketresearchfuture.com/reports/prestressed-steel-wire-strands-market-10956


Competitive Landscape


Key players in the global prestressed steel wire and strands market include Baekert (Belgium), ÇELİK HALAT ve Tel Sanayii A.Ş (Turkey), DNA PC Strand (Turkey), DWK Drahtwerke Köln GmbH (Germany), FAPRICELA - Indústria de Trefilaria, S.A. (Portugal), Henan Hengxing Science & Technology Co., Ltd. (China), Hjulsbro Steel AB (Sweden), Hubei Fuxing New Material Technology Co.,Ltd (China), Insteel Industries, Inc. (US), KISWIRE Ltd. (South Korea), Maklada (Tunisia), NEDRI Spanstaal BV (Netherlands), ORI Martin Group (Italy), Pretensados Del Norte SL (Spain), SBN Runowo Sp. z o.o. (Poland), Zhangjiagang Xinhua Prestressing Steel Strand Co.,Ltd (China), CB Trafilati Acciai S.P.A (Italy), Sumiden Wire Products Corporation (US), Trefil Union (France), TYCSA (Spain), Usha Martin Limited (India), voestalpine Group (Austria), Southern Steel Berhad Group (Malaysia), Mechel (Russia), AL ITTEFAQ STEEL PRODUCTS CO. (Saudi Arabia), ArcelorMittal (Luxembourg), and The Siam Industrial Wire Company Limited (Thailand).


ArcelorMittal, Bekaert, ÇELİK HALAT ve Tel Sanayii A.Ş, Insteel Industries, Inc., Usha Martin, and Voestalpine Group are some of the leading market players in the global prestressed steel wire and strands market. These companies account for the majority of the market share, owing to their high revenue generation, availability of raw materials at competitive prices, strong brand identity, and wide distribution networks. However, these players need to strive hard to maintain their market positions, considering the presence of other global players in the regional market.


Segmentation


By Product



  • Wire: The wire segment held the largest market share of 23.16% in 2020 and is projected to grow at the highest CAGR of 4.55% during the review period. Prestressing steel wire is made of wire rod which is majorly manufactured from the cold-forming process, which is subjected to a finishing thermo-mechanical treatment. The rising demand for steel wire in end use industries such as railway infrastructure, construction, energy, and precast concrete industries for a wide range of applications like prefabricated parts, in concrete sleepers, beams, or reinforced tubes is likely to drive the growth of the global market during the forecast period.

  • Strand: A prestressing steel strand is manufactured from several twisted steel wires composed in the same direction along with the same length. It is mainly used in pre-tensioned and post-tensioned prestressed concrete construction applications such as bridges, ground anchors, building construction, water tanks, hollow core, & reinforcement applications. Particularly for Polyethylene coated, steel strand for prestressed concrete is suitable for large-span and large bays cast-in-place concrete floor, large load of precast beams, and other special structures. This segment accounted for a market share of 76.84% in 2020 and is expected to reach USD 3,998.72 million by the end of 2030.


By Coating Type



  • Uncoated: Uncoated prestressed steel wire and rod is majorly classified into two types, uncoated steel strand for use in pretensioned and post-tensioned prestressed concrete construction. It is mainly used for the reinforcement of prestressed concrete structures, including large-span railway and road bridges, major bridges, silos, buildings, dams, floor slabs, and other construction application. It offers excellent characteristics such as low relaxation, stable modulus of elasticity, stress-relieved, firm connection with concrete, low stress, stable construction.

  • Galvanized: This is attributed to the growing adoption of galvanized strands in railroad and bridges application. It consists of superior characteristics such as High tensile, strong fatigue resistance, corrosion resistance, and ease of replacement. These galvanized strands are used with Grease or WAX and HDPE for cable stayed bridges, cable supported roofs, and other building structures worldwide.

  • Epoxy Coated: Epoxy-based coatings can be applied to both indoor and outdoor surfaces to enhance the bond performance of prestressed steel. Industrial applications are most common. Epoxies are used as protective and insulating coatings to build bridges, wind towers, and high-rise buildings. Due to their strength, they are used in the renewable energy sector to coat the steel bodies of wind turbine poles as well as to produce their blades and protect the structures of hydroelectric power stations.

  • HDPE Coated: HDPE coated wire and strands are used in bridge construction as a corrosion protection system of prestressed steel for post-tensioned bridges application. Furthermore, the product is used in the energy sector for wind turbine applications and the automotive sector.

  • Others: The other segment includes polyethylene coating, zinc coating, plastic coating, etc.


By Application



  • Railroad Industry: The segment is expected to register healthy growth because of the rise in demand for prestressed steel wire and strand in railway track sleepers. The growing demand for railroad construction projects is fueling the growth of this segment.

  • Construction Equipment: PC steel wires are used in construction hydraulic machines. It is also used in ground stabilizing piles, floor beams, and pipe systems such as crane beams, cement poles, prestressed concrete pressure pipes, multi-factory frameworks, subway, poles, anchor, panel, and concrete pipes, etc., in turn driving the growth of this segment.

  • Bridges & Flyovers: The advantages offered by prestressed strand and wires includes – up to 10% reduction in steel requirement is possible, a smaller number of anchorages, sheathings, wedges, and labor, resulting in a reduction of project cost, reduction in concrete requirement due to the reduced size of structural members, thermo-mechanical processing, eliminating the necessity of extra post straightening treatment. This results in driving the segment growth.

  • Energy: Prestressed steels are used in the energy industry to withstand the highest mechanical stresses. PC steel wire is used for aluminum conductors in overheated transmission lines by the Power Transmission Companies and State Electricity Boards. Various power plant concrete containments structures use prestressing steel to provide primary resistance to tensile loadings.

  • Others: Other applications of prestressed steel wire and strand include purification of the automotive and healthcare industries.


By Region



  • North America: In North America, The US is a major contributor to the market in the region. The US is the world's third-largest steel producer, accounting for approximately 5.4 percent of global crude steel output, as well as one of the largest steel users. Prestressed Steel demand in the automotive, construction, and oil and gas industries has soared, benefiting the business.

  • Europe: In 2020, the steel sector employed over 326,400 people across the European Union, with Germany employing over 83,200 people. This was more than double the employment in the steel industry in Italy. The growing demand for prestressing steel from the automotive industry in the region is likely to boost the demand for the prestressed steel wire and strands market. This, in turn, is expected to accelerate the growth of the prestressed steel wire and strand industry in the region over the forthcoming years.

  • Asia-Pacific: China produces the most prestressed steel wire and strands in Asia-Pacific, followed by Japan, India, and Korea. China has traditionally been the primary engine of global prestressed steel wire and strand sector growth, projected to continue in the coming years.

  • Latin America: Prestressed steel is widely utilized in various industries, including automotive, construction, infrastructure, energy, and others. In important Latin American country markets, the building sector is predicted to restart in 2021. Brazil, Chile, Colombia, and Peru are among the countries expected to rise.

  • Middle East and Africa: In this Middle East and Africa, Due to the country's increasing construction industry, Saudi Arabia has the largest share of the Middle East & Africa.