Global Prestressed Concrete Market to Capture a 6.32% CAGR Between 2021 and 2023

Use of pre-stressed concrete has increased substantially in construction of bridges, infrastructures and buildings. According to the report published by Market Research Future (MRFR), the global prestressed concrete market is poised to demonstrate compound annual growth rate (CAGR) of 6.32% during the review period (2021-2023). Prestressed concrete is being increasingly relied upon to improve concrete strength. In prestressing process involves stretching of tendons along the axis during cement dispensation. In the final stage of manufacturing tendons are freed and the bottom is flattened.

Prestressed concrete in also being preferred for its low cracking and bending characteristics. The global prestressed concrete market is benefiting from the exponential growth of the construction sector. Rise in housing construction due to rapid urbanization is influencing the demand for prestressed concrete.

Advantages associated with prestressed concrete over conventional concrete is driving the adoption rate. Moreover, the arrival of new construction materials and superior concrete solutions is reflecting favourably on the market.

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Global Prestressed Concrete Market: Segmental Analysis

MRFR’s report includes a comprehensive segmental analysis of the market based on application, manufacturing process and product.

On the basis of application, the market has been segmented into industrial, commercial and residential. The commercial segment is projected to maintain its leading position throughout the assessment period. Increased infrastructure development activities and foreign direct investment in emerging economies is supporting the segment’s growth. Demand for prestressed concrete for commercial construction is expected to remain high over the next several years. Moreover, growing investment in renovation and upgradation of existing infrastructure is creating attractive opportunities.

By manufacturing process, the market has been segmented into post-tensioning and pre-tensioning. Post-tension prestressing refers to tension applied on the material after casting. Pre-tension prestressing refers to tension applied on the material before casting.

Based on product, the market has been segmented into galvanized PC strand, uncoated PC strand and epoxy coated PC strand.

Global Prestressed Concrete Market: Regional Analysis

On the basis of region, the market has been segmented into Asia Pacific (APAC), Europe, North America and rest of the world (RoW). Among these, the APAC currently commands the largest share of the market in terms of value. The exponential market growth in the region can be linked with the rising investments in infrastructural improvement. The rising population in APAC is creating the need for more efficient infrastructural solutions. Government are ramping up investment in infrastructural projects such as construction of flyovers, bridges, power generation plants etc. Such factors are fuelling the prestressed demand in many APAC countries including China, India and the ASEAN belt. APAC is expected to maintain its predominant position in the global prestressed concrete market for the medium term if not beyond. In addition, the APAC prestressed concrete market is expected to exhibit a relatively higher growth during the forecast period. APAC is followed by North America and Europe respectively. In advanced countries, increased renovation and repair projects remains a major market driver.



Global Prestressed Concrete Market: Competition Analysis

Some of the leading companies operating in the global market for prestressed concrete include Coastal Precast (US), Elematic Precast Technology, Bekaert (Belgium), Eco Chimneys Private Limited (India), Insteel Engineers (India), Vollert Anlagenbau GmbH (Germany), US Concrete Products Corporation (US) and Oldcastle Precast (US). There are several large, medium and small sized companies operating in the market. Companies are adopting various strategies to gain a competitive edge. Many market players are actively focusing on improving their position in the market by expanding product portfolio and entering into strategic partnerships and collaborations. Merger and acquisition activities are also expected remain a notable industry trend during the forecast period.



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