October 2024 | Report Format: Electronic (PDF)
U.S. PC Wire And Strand Market Growth & Trends
The U.S. PC wire and strand market size is anticipated to reach USD 1.58 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.5% from 2023 to 2030. The positive outlook of the construction industry U.S. is estimated to be the primary factor driving the growth.
Galvanized coated prestressed concrete (PC) wire and strand led the U.S market. These products provide long-term protection against corrosion caused due to concrete carbonation, salts, and pollutants. Moreover, they are high in demand due to their low life cycle cost, as it helps significantly to reduce the overall cost of project.
Epoxy coated prestressed concrete wire and strand are also expected to observe significant growth in the forthcoming years. Use of the product is largely catered by the construction of high-rise buildings. The limitation of land coupled with advancement in civil engineering is expected to drive the construction of high-rise buildings in U.S., which in turn is projected to fuel demand for epoxy coated PC wires and strands over the forecast period.
Post-tensioned PC wire and strand is used in buildings for floor with long life spans and moderate floor loads such as in residential buildings and in parking garages. While pre-tensioned PC wire and strand is used in balconies floor slabs, lintels, balconies, foundation piles, and beams. Increasing demand for housing infrastructure and rising commercial activities are expected to drive the product demand.
Construction boom in West United States such as Nevada is expected to foster the market growth. For instance, the massive projects in the pipeline in Nevada such as the Las Vegas stadium and casinos such as Resorts World Las Vegas on the Las Vegas Strip are expected to boost the product demand. Moreover, the Nevada Department of Correction has identified 225 projects in 2018, most of them consisting of maintenance and restoration projects and costing an estimated USD 486.6 million.
Acquisition is a key strategy adopted by the regional players to expand their regional market share. For instance, Insteel acquired the PC strand business from American Spring Wire Corporation in 2014. Another instance includes Keystone Consolidated Industries, Inc. acquiring Strand-Tech Martin, Inc. in 2016. These acquisitions allowed consolidation of the domestic producers and extended their market share in the country.
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U.S. PC Wire And Strand Market Report
U.S. PC Wire And Strand Market Report Highlights
- In terms of volume, epoxy coated PC strands are expected to expand at a CAGR of 3.8% over the forecast period. Epoxy coated PC strands have perfect anti-corrosion performance and high fatigue resistance capability.
- The galvanized PC strands segment accounted for the largest revenue share of 34.1% in 2022 and is expected to grow at the fastest CAGR of 4.0% during the forecast period.
- The buildings segment held the largest revenue share of 42.2% in 2022 and is expected to grow at the fastest CAGR of 3.8% over the forecast period.
- West U.S. dominated the U.S. PC wire and strand market and accounted for the largest revenue share of 22.9% in 2022 and is expected to grow at the fastest CAGR of 4.4% during the forecast period.
- The Southwest U.S. is expected to grow at the second fastest CAGR of 4.0% during the forecast period The Southwest U.S. states, such as Arizona, Oklahoma, and New Mexico are the major contributors to the regional PC wire and strand market.
U.S. PC Wire And Strand Market Segmentation
Grand View Research has segmented the U.S. PC wire and strand market on the basis of surface coatings, application, and region:
U.S. PC Wire And Strand Surface Coatings Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
- Uncoated PC strands
- Galvanized PC strands
- Epoxy coated PC strands
- Others
U.S. PC Wire And Strand Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
- Buildings
- Bridges
- Others
U.S. PC Wire And Strand Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
- U.S.
- West U.S.
- Midwest U.S.
- Southwest U.S.
- Southeast U.S.
- Northeast U.S.
List of Key Players of U.S. PC Wire And Strand Market
- Insteel
- Sumiden Wire
- LIBERTY Steel Group
- Wire Mesh Company
- DEACERO
- ArcelorMittal
- Usha Martin Limited
- Bekaert
