Prestressed Concrete Market 2020-2027 is thriving by focuses on major players- Skanska, HeidelbergCement, L&T Construction, Taiheiyo Cement Corporation, Coreslab Structures

Market Overview:

In addition, the Global Prestressed Concrete Market has been expected to rise at a CAGR of 4.30%, with a value of USD 28.3 million over the estimated the forecasting year of 2022-2030.

Precast concrete is produced by preparing, casting, and curing the concrete using a reusable mold in a controlled environment. The casted concrete is then transported to the construction site, where it is used for structural components like wall panels, tunnels, floors, beams, columns, pipes, girders, and staircases. The precast structural elements are more economical and practical compared to in-situ concrete. Precast concrete components can be bolted together by embedding steel connectors in the concrete at casting. They offer dimensional accuracy and a choice of developing unique and breakthrough constructions of exceptional quality. As a result, precast concrete is generally used for building affordable projects with identical structures. It also allows planning for future construction projects as the components can be rearranged easily.

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The global precast concrete market is primarily driven by rapid urbanization and the growing demand for residential and commercial spaces. With rising environmental concerns, precast concrete is increasingly used to construct buildings, bridges, and stadiums as it can be recycled and reused, which helps minimize the impact of raw materials on the environment. Besides this, governments across the globe are investing in infrastructural development projects, which is providing a positive outlook to the market. They are also undertaking various initiatives to employ precast concrete as it significantly reduces the overall project timeline and generates savings in raw material and labor costs.

Market Segmentation:

According to the market analysis report, the global market has been segmented into six sections manufacturing process, concrete wires, product, application, end-use industry, and regional analysis. Based on the manufacturing process, the global prestressed concrete market has been divided into two types pre-tensioning and post-tensioning. According to the concrete wires, the market is divided into three sections 4-7 wires, 3 wires, and above 7 wires. The market is divided into three parts with the product section: uncoated P.C. strand, galvanized P.C. strand, and epoxy coated P.C. strand. The global market is segmented into five parts with the application section: poles and beams, hardstands and pavements, pipes, tanks, and others. Based on the end-use industry, the global prestressed concrete market is classified into five sections: construction & infrastructure, manufacturing industry, railroad industry, oil & gas industry, and others.  

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Regional Analysis:

Asia-Pacific accounted for the largest prestressed concrete market share, holding more than 50% of the total revenue of the high-strength concrete market share. Most of the demand is concentrated in China, followed by Japan and India. China hosts a vast construction sector, and the developments in the infrastructure and residential sectors in the past two years have supported the construction sector’s growth at large. China is a global leader in the consumption of concrete and related products and is also the home of many domestic manufacturers of cement and concrete products.

China has been focusing on reducing the environmental impact by reducing carbon dioxide emissions and other waste emissions in the recent past. When applied to inappropriate projects, the usage of high-strength concrete can further enhance the country’s vision to support the reduction in environmental impact. However, due to the onset of COVID-19, China’s economic growth now seemed to contract by a considerable extent in 2020. Many manufacturing and associated activities have already taken a hit in early 2020. The economic situation is expected to remain dire if the manufacturing activities are not set back on track by mid-2020.

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Industry News:

The global high-strength concrete market is partially consolidated as the top five players cover more than 50% of the market. Some of the noticeable players in the market include CEMEX S.A.B. de C.V., LafargeHolcim, Sika AG, U.S. Concrete, Ultratech Cement Ltd, and BASF SE, amongst others.

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