Precast Concrete Market — Overview

Versatile Precast Concrete is completely recyclable and demonstrates properties like high strength and durability, which makes it to be an irreplaceable element of modern construction allowing its market to increase vigorously. The burgeoning construction industry coupled with the recent trend of pre-factored buildings is fostering market growth predominantly.

Precast concrete market was valued at USD 63487.9 million in 2021. The precast concrete market industry is projected to grow from USD 66509.92404 million in 2022 to USD 92098.99266 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.76% during the forecast period (2022–2030). The need for cost-effective, safe, and eco-friendly products and rise in renovation and remodeling activities across the globe are the key market drivers enhancing market growth.

Other major factors propelling the market growth globally include a growing population, urbanization along with the improving economy which is increasing purchasing power of people. The hotel industry is surging rapidly owing to the growing Travels sector. Usages of precast concrete in hotel sector to ensure faster quality construction defines the market landscape expansion in the recent future.

Conversely, volatility in the prices and supply of raw materials is expected to restrict the market growth during the forecast period. Precast concrete offers efficiency and durability assuring structural safety, which makes it the most excellent solution for large-scale construction projects.

Precast concrete can withstand substantially greater load bearings, therefore ruling out the requirement of numerous other support features & expensive column construction inside the building. This feature allows magnificently appealing interiors creating fluidity &functionality. Furthermore precast concrete is lightweight which minimizes the need for extra material needed for a deeper foundation for a building. All this contributes to cost-effective construction and eventually to the Precast Concrete market growth.

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Worldwide Precast Concrete Market — Competitive Analysis

The global Precast Concrete market appears to be fiercely competitive and fragmented with many well-established players having global presence. Brand reinforcement, mergers & acquisitions, and innovation, remain the popular trends for the key players in the market.

Industry/ Innovation/ Related News:

January 24, 2018 — Helix Steel (US) a leading global manufacturer of proactive concrete using reinforcement technology (Helix Steel Technology) used across precast and all types of infrastructures released a web-based tool that can calculate gains acquired by using company’s patented Helix Micro Rebar product.

January 11, 2018 — TARMAC (UK) a leading manufacturer in concrete solution launched its two newly developed modified concrete mixes to support residential builders to comply with the updated technical guidelines issued by the NHBC (National House Building Council). The company has also contributed to a recently approved guide from the British Precast Flooring Federation offering practical advice to meet the new NHBC best practice guidance.

February 8, 2018 — Kryton International Inc., the discoverer of the crystalline waterproofing admixture, post acquiring Cementec Industries in 2017, announced its latest development of new technology ‘Hard-Cem’, an integral concrete hardener with high resistance to abrasive & erosive wear for ready-mix concrete, precast concrete & shotcrete. The company

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Precast Concrete Market — Segmentation

For the convenience of the report and enhanced understanding; MRFR Analysis — Global Precast Concrete Market is been segmented in to 3 key dynamics

By Structures: Sandwich Wall (Insulated Double-Wall) Panels, Pre-Stressed Concrete among others.

By End Use: Non-residential Building, Non-Building, Residential & Agricultural.

By Regions: North America, Europe, APAC and Rest of the World.

Worldwide Precast Concrete Market — Regional Analysis

Europe region leads the global Precast Concrete Expected Growth Rates For followed by Asia Pacific and North America respectively. The growing construction industry fueled by rising population, economic growth that leads to increasing affordability, coupled with lowering interest rates on construction loans is propelling market growth in these regions. These factors are expected to keep contributing to the market growth during the anticipated period.

Segment Pre-stressed concrete by Structures accounts for Lion’s share owing to its properties like extended durability, higher tensile strength and crack proof compared to conventional cured at site concrete. It is largely used in commercial infrastructures like gymnasiums, hotels, shopping centres, etc.

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Non-residential (home) buildings segment by end uses is projected to hold supremacy in the market. Owing to its uses in the construction of office spaces, hotels, amusement parks & recreation centers, and manufacturing facilities this segment is boosted.

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