The Latin America, Middle East and Africa Prestressed Concrete (PC) Wire and Strand Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).
The construction industry uses prestressed concrete (PC) wire and strand to reinforce and strengthen concrete structures. High-strength steel filaments are woven together to produce PC strands. These wires are either pre-tensioned or post-tensioned within the concrete component to counteract the tensile forces that the structure experience. PC strands offer greater durability and increased load-bearing capacity than prestressed concrete wire and are utilized in larger-scale applications such as bridges, beams, and platforms.
Prestressed concrete has extraordinary durability, strength, and versatility, and its use in construction projects expedites project completion, reduces maintenance costs, and lengthens the lifespan of infrastructure. In addition, prestressed concrete's ability to span extended distances without intermediate support is a significant characteristic that makes it suitable for bridges, auditoriums, and other structures. Thus, infrastructure development is expected to positively impact the market.
The UAE is home to some of the world's tallest skyscrapers, and the construction of high-rise buildings is a common sight. Prestressed concrete, often incorporating PC wire and strand, is used for the structural elements of these towering structures, ensuring their stability and load-bearing capacity. The UAE has invested heavily in infrastructure expansion, such as modern highways, bridges, and transportation networks. PC wire and strands are crucial in creating durable and long-lasting infrastructure components. The UAE's dynamic and ambitious construction industry, driven by urbanization, tourism, and government investments, continues stimulating the demand for PC wire and strands. These materials are essential for creating the modern and iconic structures that have become synonymous with the UAE's skyline and infrastructure. All these elements will aid in the expansion of the regional market in the coming years.
The Brazil market dominated the LAMEA Prestressed Concrete (PC) Wire and Strand Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $465.1 million by 2030. The Argentina market is registering a CAGR of 5.9% during (2023 - 2030). Additionally, The UAE market would grow at a CAGR of 5.9% during (2023 - 2030).
Based on Type, the market is segmented into 7 Wire Strand, 3 Wire Strand and Others. Based on End User Industry, the market is segmented into Infrastructure and Building Construction. Based on Application, the market is segmented into Pre-tensioning, Bonded Post-tensioning and Unbonded Post-tensioning. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Prestressed Concrete (PC) Wire and Strand Market is Projected to reach USD 7.7 Billion by 2030, at a CAGR of 5.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ArcelorMittal S.A., Sumitomo Electric Industries, Ltd., TATA Steel Limited (TATA Group and Tata Sons Pvt. Ltd.), N.V. Bekaert S.A., Kiswire LTD., Miki Steel Works Pvt. Ltd. (Miki Group Of Companies), Insteel Industries, Inc., TMG Global Pte Ltd., Kataria Group, and Usha Martin Limited.
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