New York (US), June 15, 2023 (GLOBE NEWSWIRE) -- Prestressed Concrete Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Prestressed Concrete Market By Technology, by Application, by Material, and Region - Forecast till 2030”, the Prestressed concrete market will be touching USD 176 Billion by 2030 while expanding at a rate of 6.5% from 2022 to 2030.
Market Scope
To address the shortcomings of basic concrete, prestressed concrete is a method or type of concrete. It is extensively utilized in many public infrastructures, including bridges, water tanks, multi-story buildings, piles, floor beams, runways, roofs, subways, metro piers, and railway sleepers. In addition to increasing its service load factor, it is primarily utilized to decrease cracking and deflection. Its use is anticipated to grow in the construction industry because its tendons and components are a subset of the building material sector. It is anticipated that the rise in demand would motivate producers and suppliers to concentrate on the quality of their goods. The subsidies provided by various governments help construction companies and allow them to put together an affordable products.
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Market Competitive Landscape:
The major vendors in the prestressed concrete industry are
- Skanska (Sweden)
- HeidelbergCement (Germany)
- L&T Construction (India)
- Taiheiyo Cement Corporation (Japan)
- Coreslab Structures (US)
- Coltman Precast Concrete Limited (UK)
- Tindall Corporation (US)
- Molin Concrete Products Company (US)
- American Concrete Products (US)
- The Prestressed Group (Canada)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | 2030: USD 176 billion |
| CAGR | 6.5% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Most durable · Reliable kinds of concrete · Used for the construction of mega buildings |
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The industry features numerous participants that offer a variety of product options, fueling fierce competitive competition. In industrialized economies like North America, Europe, and several regions of Asia Pacific, including Australia, there are numerous major players. The worldwide industry still has a high degree of forward and backward integration among leading businesses, which has increased rivalry and competition and made it challenging for new players to enter.
Market USP Covered:
Market Drivers:
Prestressed concrete has many benefits when used in building structures, including increased design freedom, longer spans, less material utilization, and quicker construction timeframes. Because of these advantages, prestressed concrete is a preferred material for building construction among architects, engineers, and contractors.
Due to the rising need for long-lasting and environmentally friendly building materials, the popularity of prefabricated construction techniques, and the increasing knowledge of the advantages of prestressed concrete, the market for tensioning systems and prestressing concrete is anticipated to grow exponentially. Government investments in infrastructure development are rising globally, notably in the Asia-Pacific region, where the industry is anticipated to rise significantly. This growth is further encouraged by these investments.
Additionally, it seems likely that the growing emphasis on sustainable development and green building would increase demand for eco-friendly and energy-efficient building materials, such as prestressed concrete. During the forecast period, these aspects are expected to generate a lot of chances for market growth.
Market Restraints:
The availability of substitute materials like steel and wood, as well as the high cost of initial investment, are some of the difficulties the global prestressed concrete market must overcome. Additionally, the COVID-19 epidemic has had an impact on the whole construction sector, resulting in project cancellations and delays as well as supply chain disruption.
Despite these obstacles, the market offers great potential for progress, particularly in the adoption of cutting-edge technologies and sustainable practices, the creation of novel building techniques and materials, and the expansion of infrastructure building in developing nations.
COVID 19 Analysis
The building and construction sector has been significantly impacted by the Covid-19 pandemic. The epidemic caused the abrupt end of infrastructure development and building activity. The market was affected by a slowdown in the production of raw materials, disruptions in the supply chain, limitations on the movement of people and goods, and problems with trade movements. Because of the epidemic, there is now an oversupply of prestressed materials.
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China's Ministry of Industry and Information Technology reports that the country produced 769 million tons of cement between January 2020 and May 2020, a decrease of 8.2% compared to the same period last year. But as COVID-19 cases grew, the demand for modular buildings from the healthcare sector increased. The government's initiative to build additional hospitals to handle the growing number of patients has increased demand for precast concrete parts, which has slowed the pandemic's spread.
Market Segmentation
By Manufacturing Process
The pre-tensioning and post-tensioning segments of the global prestressed concrete market are based on the production method. Due to its widespread usage in the production of structural beams and poles, bridge deck panels, and roof slabs, among other things, post-tensioning is currently the market leader.
By Concrete Wire
The global market for prestressed concrete is divided into three categories based on the number of concrete wires: 4–7 wires, 3 wires, and above 7. Due to its increased strength and strong chemical stability, the above-mentioned category of wires—which is favored by construction companies—is predicted to dominate the market.
By Product
The global prestressed concrete market can be broken down into three product categories: epoxy-coated PC strands, galvanized PC strands, and uncoated PC strands. Due to its numerous uses in tunnels, construction sites, and trains, the uncoated PC strand segment is the one that is currently monopolizing the market.
By Application
The global prestressed concrete market is divided based on application into pipes, tanks, hardstands and pavements, poles and beams, and others. Due to the extensive use of poles and beams in the construction of bridges and railroads, this market category is now in the lead.
By End-Use Industry
Construction and infrastructure, manufacturing, railway, oil and gas, and other industries are the top end-use sectors. The construction and infrastructure sector is predicted to dominate the market and is extensively employed in applications such silos and nuclear containment structures, high-rise buildings, residential slabs, foundations, bridges, and dams.
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Regional Insights
Given the improving financial situation and greater expansion in the construction industry, Asia-Pacific is expected to lead the prestressed concrete market throughout the study period, followed by Europe. The demand for the commodity will rise as infrastructure development investments by nations like China, India, and Japan expand. Additionally, these nations' expanding residential markets will drive up demand for precast concrete because of its affordability, boosting the industry.
During the conjectured period, the European market will see considerable expansion. This is due to the growing use of these concrete products for non-residential and infrastructure building. Precast concrete materials have boosted the market in the area by cutting down on labor costs and building time.
Owing to the significant demand for new homes, the market in Latin America will expand. Another element contributing to the expansion of the regional market is the infrastructure development in Latin America.
The Middle East & Africa market is anticipated to have significant expansion. Due to the significant demand from the tourism industry, countries have invested in the development of commercial spaces such as malls, airports, hotels, and public spaces, which has fueled demand in this region. Additionally, forthcoming high-rise construction and sports complex developments will help to grow the local market.
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