Global EMEA Prestressed Concrete (PC) Wire and Strand Market: Overview
Prestressed concrete (PC) wire and PC strands are primarily used in construction of various components of a building, such as pier, segmental blocks, and foundation, to provide stability to the structure. The high tensile strength of prestressed concrete (PC) wire and PC strands is the main reason behind increasing demand in the construction industry.
An upcoming Transparency Market Research report on the EMEA prestressed concrete (PC) wire and strand market promises to cover all essential details that could help bolster growth in the future. The report covers key trends, challenges, geographical distribution, and the competitive landscape of the EMEA prestressed concrete (PC) wire and strand market
Global EMEA Prestressed Concrete (PC) Wire and Strand Market: Notable Developments
Some of the notable developments in the EMEA prestressed concrete (PC) wire and strand market are;
As per a report shared by United Nations in 2016, in the World Cities Prospect showed that number of megacities is projected to increase by 10 from 2016 to 2030. Growing number of megacities is the key factor responsible for the segment expansion. A city with population of more than 10 Million inhabitants is termed as megacity.
Corrosion is one of the common problems of prestressed concrete (PC) wire and strand. However researchers are focusing on improvement of its corrosion resistance property with the help of different doping technique. This is expected to offer several opportunities to the EMEA prestressed concrete (PC) wire and strand market.
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Global EMEA Prestressed Concrete (PC) Wire and Strand Market: Key Growth Dynamics
The global EMEA prestressed concrete (PC) wire and strand market is expected to rise at a significant pace during the forecast period. This is mainly due to the rise in infrastructural activities across the globe.
Apart from this, substantial increase in adoption of precast structure in bridges construction is another factor expected to drive growth of the EMEA prestressed concrete (PC) wire and strand market.
Rise in offsite construction activities is expected to boost the EMEA prestressed concrete (PC) wire and strand market growth over the next few years. Offsite construction refers to planning, assembly and fabrication of parts of building at a site different than the main site. This helps save time and reduce material wastage as the process can be carried out irrespective of the weather conditions.
However, crimp in the growth of the construction industry in China is contributing to the slowdown owing to weak global trade. There is a significant decline in the demand for steel in China. As steel is a vital raw material used in the manufacturing of PC strands and wires. This is expected to dampen prospect of EMEA prestressed concrete (PC) wire and strand market.
Nevertheless, rise in the construction of skyscrapers in several region is projected to soar demand of EMEA prestressed concrete (PC) wire and strand market in the near future.
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Global EMEA Prestressed Concrete (PC) Wire and Strand Market: Regional Outlook
Asia Pacific is expected to hold maximum share in the EMEA prestressed concrete (PC) wire and strand market during the forecast period. This is due to the significant increase in building and construction industry in the region. Steady rise in industrialization and urbanization is another factor expected to swell demand for EMEA prestressed concrete (PC) wire and strand in the region during the forecast period.