Global Prestressed Concrete (PC) Wire and Strand Market 2017-2021

Overview of the global prestressed concrete (PC) wire and strand market

Technavio’s market research report predicts that the global prestressed concrete (PC) wire and strand market will post a CAGR of more than 3% during the forecast period. Low oil prices that have a mixed impact on the construction industry will be one of the primary drivers for market growth. The decreasing oil prices across the globe results in the reduction in prices of petroleum-based products such as asphalt, plastic materials, material insulation, and polyvinyl chloride material, consequently fueling the growth of the construction industry. Additionally, the reducing oil and gas prices also reduces the transportation costs for construction firms, which will again makes it less expensive to carry out different operational activities. As a result, the coming years will witness a significant increase in the number of construction activities across the globe, which will subsequently drive market growth.

The rising focus on infrastructure development will lead to the growth of numerous sectors connected to the construction industry. Since PC wire and strands are a significant part of the construction material industry, the market will witness an increase in its demand, especially for prefab construction. This increase demand will induce vendors to focus more on improving the quality of their product and they will greatly benefit from the subsidies provided by the various governments since it enables them to introduce economical products.

Competitive analysis and key vendors

The global PC wire and strand market is fragmented and consists of both local and international vendors. Several market players are focusing on increasing their geographical presence by forming partnerships with the local players which will help them reduce their production costs and enhance efficiency. Moreover, the vendors will also focus on working on other markets that encourage the application of PC strands in industries such as the mining and automotive sectors and will also concentrate on R&D activities to introduce innovative products.