According to SPER Market Research, Prestressed Steel Wire and Strands Market is estimated to reach USD 1.404 billion by 2032 with a CAGR of 4.25%. The increasing demand for prestressed steel in the structure and development industry is a notable factor influencing the growth of the global market. The need for prestressed steel wire and strands in the construction industry is fueled by its common qualities, which include high strength, bendability, excellent protection against erosion, flexibility, toughness, and low unwinding. The need for prestressed steel strands is expected to be supported by the increased demand for epoxy-covered prestressing steel strands in a variety of end-use industries, such as the railroad industry, in the years to come. Similarly, it is anticipated that increased use of prestressed steel strands for energy applications, such as wind turbines, nuclear reactor safeguards, and condensed petroleum gas (LNG) tanks, will drive market growth throughout the study period.
Prestressed Steel Wire and Strands Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 4.25%
- Forecast Market Size (2032): 1.404 billion
Additionally, it is anticipated that the growing need for energy-productive constructions would create significant openings for companies in the worldwide prestressed steel wire and strands market. The steel industry has been significantly impacted by the COVID-19 pandemic. Due to the pandemic scenario, many countries had to go into lockdown in order to contain the rising number of cases. As a result, the demand and supply chains have been disrupted, which has had an effect on the global market. Numerous businesses, manufacturing facilities, and infrastructure projects had to be suspended as a result of the pandemic crisis.
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Impact of COVID-19 on the Global Prestressed Steel Wire and Strands Market
The COVID-19 pandemic and shifting raw material costs have hindered the growth of the global market. On the good side, things are starting to settle down again, which is encouraging for future market expansion. Additionally, the full-scale restart of the prestressed steel wire and strands business would be facilitated by the global recycling industry’s revival and the development of vaccines against the novel coronavirus.
Prestressed Steel Wire and Strands Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Coating Type:
- Epoxy Coated
- HDPE Coated
- Bridges & Flyovers
- Construction Equipment
- Railroad Industry
- Middle East & Africa
- North America
- Latin America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Prestressed Steel Wire and Strands Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; 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.
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