Increasing demand from infrastructure and real estate sector, the growing popularity of offsite construction, and rapid urbanization are driving the demand for the prestressed concrete (PC) wire and strand market
New York, Jan. 18, 2021 (GLOBE NEWSWIRE) -- The global prestressed concrete (PC) wire and strand market is estimated to reach USD 260.8 million by 2027. Prestressed concrete is a particular type of concrete that is substantially compressed during production to improve its resistance against tensile forces and augment its performance in service. This compression results from the tensioning of strong tendons present in the concrete. These tendons comprise single-wire and multi-wire strands and threaded bars that are composed of high-tensile steel, aramid fiber, or carbon fiber. Prestressed concrete finds extensive application in the construction of residential and commercial buildings and various civil structures. Superior features like reinforced performance, longer lifespan, and decreased structural thicknesses of the concrete make it the most suitable construction material for high-rise buildings, foundation systems, bridges and dams, silos and tanks, industrial pavements, residential slabs, and nuclear containment structures.
The global prestressed concrete (PC) wire and strand market is projected to grow at a substantial pace over the forecast timeframe, supported by a slew of growth-inducing factors. Primary factors responsible for the global market growth include the rapidly expanding buildings & construction industry, rising government investments in public infrastructure development, and growing focus on urbanization, especially in evolving economies across the globe. A significant rise in the number of real estate projects, large-scale construction activities taking place worldwide, fast-paced industrialization, and rapid development of flyovers, bridges, hospitals, hotels, shopping malls, and other public structures are vital factors bolstering global market growth. Moreover, rising demand for offsite construction is another parameter contributing to the growth of this market. The adoption of prefab construction – which refers to the molding of a structure through the curing process under a temperature-controlled environment – has risen significantly over recent years. This, in turn, has further boosted global market development.
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For the purpose of this report, the global prestressed concrete (PC) wire and strand market is segmented on the basis of surface coating type, carbon content, application, and region:
Surface Coating Type Outlook (Revenue, USD Billion; 2020-2027)
Carbon Content Outlook (Revenue, USD Billion; 2020-2027)
Application Outlook (Revenue, USD Billion; 2020-2027)
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Regional Outlook (Revenue, USD Billion; 2020-2027)
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