EMEA Prestressed Concrete (PC) Wire and Strand Market Analysis 2020, Forecast 2021 - 2026(Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: EMEA Prestressed Concrete (PC) Wire and Strand Market


The EMEA Prestressed Concrete (PC) Wire and Strand market size is projected to reach US$ 500.17 million by 2026, from US$ 428.78 million in 2020, at a CAGR of 2.6% during 2021-2026. Rising offsite construction activities is expected to fuel the market growth over the next few years. Offsite construction helps save time and reduce material wastage. The process can be carried out irrespective of the weather conditions. For example, prefabricated construction is used in the construction of bridges and flyovers, where segmental girders are prefabricated along with the installation of PC strands.

These segmental girders are transported to the site and erected with the help of cranes and skilled labor. Thus, the growth in prefab or offsite construction is anticipated to be a key driver for the PC wire and strand market over the forecast period. Uncoated PC strands is estimated to emerge as the largest segment owing to its distinctive quality to provide high tensile strength coupled with elevated performance at excess temperatures. Use of uncoated PC strands is largely concentrated for the inner application in precast structures. The exposure of these strands to air is kept minimum to avoid corrosion or rusting.

Stable construction sector of the Middle East region, especially in UAE and Saudi Arabia, is expected to drive the product demand over the coming years. A swift growth is likely to be observed in the galvanized product segment in near future. Increasing demand for galvanized product is likely to be catered by rising number of high-rise building construction, especially in the Middle East region. The global steel production witnessed a slowdown in 2016 and 2017 due to less investments in the steel industry.

Moreover, slow growth of the construction industry in China is contributing to the slowdown owing to weak global trade. China has a large number of mills, which account for approximately half of the global steel production. The decline in the demand for steel in China was approximately -3.8% and -2.9% in 2016 and 2017, respectively. As steel is a vital raw material used in the manufacturing of PC strands and wires, vendors in China have slashed steel prices to eliminate unused steel inventories and increase exports, thereby resulting in a decrease in PC strand prices.

Market Segmentation, Outlook & Viewpoint: EMEA Prestressed Concrete (PC) Wire and Strand Market

Surface Coatings Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Uncoated
  
Galvanized
  
Epoxy
  
Others

Carbon Content Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
High Carbon Content
  
Medium Carbon Content

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Bridges
  
Buildings
  
Others

Key Players, Recent Developments & Regional Insights: EMEA Prestressed Concrete (PC) Wire and Strand Market

The buildings application segment accounted for the largest revenue share of 55.3% in 2017 and is projected to witness a CAGR of 2.6% over the forecast period. Growing number of megacities is the key factor responsible for the segment expansion. A city with population of more than 10 Million inhabitants is termed as megacity. The World Cities Prospect shared by the United Nation in 2016 shows that the number of megacities is projected to increase by 10 from 2016 to 2030.

Rise in infrastructural activities are also likely to support the segment growth in the coming years. Moreover, increasing adoption of precast structure for the construction of bridges is expected to drive segment further. Bridges segment is anticipated to witness a steady growth rate over the forecast period. PC strands are used in the construction of various components of a bridge, such as pier, segmental blocks, and foundation, to provide stability to the bridge structure with high tensile strength.

Use of precast concrete products in residential construction is popular in European countries. Penetration of precast concrete structures in residential sector is expected to observe swift growth owing to its decreasing cost and easy assembling operation. The precast concrete market in the European region is expected to grow by nearly USD 7 billion from 2016 to 2025. This will help boost the growth of the overall industry.

Regional Insights

The construction sector in Europe has observed a growth of nearly 2.3% in 2016 as compared to 2015 and accounts for around 9% of the GDP. There are nearly 3 Million enterprises in the construction sector in Europe. However, the regions GDP has declined by nearly USD 2 trillion from 2014 to 2016, as stated by the World Bank Group, which hampered the construction industry. Thus, growth of the PC wire and strand market in Europe is likely to remain slow over the forecast period.

Western Europe has been impacted largely by the ˜Brexit crisis in 2016, with repercussions on the regions trade, financial status, and economies. GDP growth rates have remained low in major countries, such as France and Italy. However, Spain has emerged as a strong performer with an upswing in its economy, owing to the benefits of structural reforms and other internal adjustments among regional workers. Germany has also remained a steady performer, consuming a large extent of structural steel for multiple construction projects.
EMEA Prestressed Concrete (PC) Wire and Strand Market Share Insights

Some of the key manufacturers include ArcelorMittal S.A., Bekaert, DWK Drahtwerk Cologne GmbH., Insteel, KISWIRE LTD., Shagang Group, Sumiden Wire, Sumiden Wire, Usha Martin, Gulf Steel Strands FZE (GSS), and United Wire Factories Company. International companies are focusing on acquiring regional vendors to increase their product portfolio, as well as presence, in the regional markets.

Key Insights Covered: EMEA Prestressed Concrete (PC) Wire and Strand Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of EMEA Prestressed Concrete (PC) Wire and Strand industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of EMEA Prestressed Concrete (PC) Wire and Strand industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of EMEA Prestressed Concrete (PC) Wire and Strand industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of EMEA Prestressed Concrete (PC) Wire and Strand industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of EMEA Prestressed Concrete (PC) Wire and Strand industry.

Research Methodology: EMEA Prestressed Concrete (PC) Wire and Strand Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other