Market Synopsis

Prestressed steel wires and strands are composed of high-strength steel wires and are stabilized/stress-relieved for prestressed applications.

High tensile strength, steady modulus of elasticity, low relaxation, stress-relieved, stable construction, low stress, reducing distortion as well as construction weight, high abrasion resistance, saving material, significant water resistance, as well as stiffness are some of the major qualities of Prestressed Steel Wire And Strands Market Share.

These are mainly deployed for the reinforcement of a variety of prestressed structures, like large-span road bridges and railways, silos, major bridges, dams, buildings, foundations, floor slabs, atomic reactor buildings, large concrete vessels, stadiums, pre-cast segments, airport hangers, anchorages, multi-story industrial buildings, and crane beams. These are used in the construction of poles, water towers, and highways in civil construction, as well as energy source sea transportation, water control projects, rock and earth anchoring components, and house buildings for a higher tensile force.

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Market Competitive Landscape:

The important companies in the prestressed steel wire and strands industry are

  • 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)

Market Drivers:

The worldwide market benefits from the surging industrialization rate. Close to 2,450 projects are underway or are in the planning stage. Some major projects happening in the U.S. include the construction of Loma Linda University Medical Center in California, Tisch Hospital in New York, and Lucile Packard Children's Hospital at Stanford. Prestressed steel wires and strands are being used for the construction of a variety of columns and slabs of these buildings.

The companies are focused on developing a technologically integrated production environment. Most of these companies are also suppliers since they need only steel-based raw materials like bars, rods, ropes, and wires. The remaining production technologies adopted by these companies are largely proprietary. Therefore, the market is functioning in a forward-integrated environment.

The aging buildings and infrastructure across the globe are leading to a rise in infrastructural spending. The rise in infrastructural spending will most likely be favorable for the prestressed steel wire and strands industry in the long term.

Market Restraints:

The focus on steel recycling is much higher than on steel production owing to various environmental factors. Recycling steel is more cost-effective and easier compared to its production. It has emerged as a huge challenge for the prestressed steel wire and strand developers in the market.

COVID 19 Analysis

The steel industry has been considerably affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide Prestressed Steel Wire And Strands Market Value Chain Analysis. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.The volatile costs of raw materials coupled with the COVID-19 pandemic have restricted the growth rate of the global market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth. Also, the emergence of vaccines for the novel coronavirus and the reopening of several recycling units worldwide would result in the re-initiation of the prestressed steel wire and strands market at its full-scale capacity.

Market Segmentation

By Product

Strand and wire are the top products considered in the report.

By Coating Type

Uncoated, Galvanized, Epoxy Coated, HDPE Coated and others are the key coating types covered in the MRFR study.

The epoxy-coated products will experience significant demand in the coming years, given the robust adhesion between them and the steel surface that gives them impressive fretting resistance. The continuous epoxy coating makes the products corrosion-resistant. The advances in construction technology as well as the surging number of high-rise towers worldwide will ensure steady segmental expansion in the years to come.

By Application

Railroad Industry, Construction Equipment, Bridges & Flyovers, and Energy are the applications of prestressed steel wire and strands.

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