Prestressed Concrete Market, By Product (Epoxy coated PC strand, Uncoated PC strand, and Galvanized PC strand), By Manufacturing process (Pre-tensioning, and Post-tensioning), By Application (Residential, Commercial and Industrial) - Global Forecast Till 2023

Market Synopsis

Pre-stressed concrete is used extensively in multistoried buildings, bridges, and infrastructure. Prestressed concrete is used to overcome the weakness of concrete in tension. which can be removed with the product. In prestressing process, the tendons are stretched along the axis when the cement is dispensed. In the later stage, the tendons are released, and the bottom is flattened. The use of pre-stressed concrete helps reduces bending & cracking.

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Unparalleled growth in the construction sector has been witnessed with the new residential building and remodeling/renovation projects owing to the rapid urbanization. This widens the scopes for prestressed concrete market. Also, the associated advantages of the concrete is used to overcome the weaknesses of the regular concrete. With such development of advanced materials, the prestressed concrete market is anticipated to gain momentum in the coming years.

The global prestressed concrete market is expected to witness a CAGR of around 6.32% during the forecast period.

Global Prestressed Concrete Market: Regional Analysis

The global prestressed concrete has been segmented into regions of North America, Europe, Asia-pacific, and Rest of the world (RoW). Asia-Pacific accounted for the fastest growing market in the overall prestressed concrete market followed by North America and Europe in 2017, which will continue with its dominance by 2023. This is attributed to the increasing investments in of construction projects backed by robust investments in the civic infrastructure such bridges, flyovers, energy, and others. This is expected to fuel the demand for prestressed concrete in the Asia-Pacific region in coming time.

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Global Prestressed Concrete Market: Segmentation

The global prestressed concrete market has been segmented on the basis of product, manufacturing process and application. On the basis of product, the market has been classified into epoxy coated PC strand, uncoated PC strand, and galvanized PC strand. Manufacturing process segment is further sub-segmented into Pre-tensioning, and Post-tensioning. Application segment has been divided into Residential, Commercial and Industrial.

Based on manufacturing process, the market has been bifurcated into Pre-tensioning, and Post-tensioning. The tension is applied on the element before casting and is known as pre-tension prestressing; whereas when tension is levied on the element after the casting process when it is hard, it is known as post-tension prestressing.

Based on application, the segment is classified into residential, commercial and industrial. Commercial segment is expected to witness maximum growth. With increasing FDI in construction in Asia-Pacific region along with growing number of construction projects, there is seen a rising demand for such concrete. Furthermore, with increased focus on the upgradation and development of infrastructure projects, there is seen a growing demand for prestressed concrete.

Key players include Bekaert (Belgium), Insteel Engineers (India), US Concrete Products Corporation (US), Coastal Precast (US), Oldcastle Precast (US), Elematic Precast Technology, Vollert Anlagenbau GmbH (Germany), and Eco Chimneys Private Limited(India). The global prestressed concrete market is fairly competitive with moderate number of players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include new product developments, mergers, and acquisitions, along with strategic partnerships, and collaborations.

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