The “Precast Concrete Products” report has been added to ResearchAndMarkets.com’s offering.
U.S. demand for precast concrete is forecast to rise 3.8% annually through 2022. Rising construction activity will drive demand gains.
Growth in Building Construction Spending to Boost Demand Gains
Gains will be driven by an expansion in commercial building construction spending, especially for offices, industrial buildings, and healthcare facilities, and growth in nonbuilding construction activity, including spending on highways and bridges. Demand will also be bolstered by the increased adoption of precast concrete products because of their durability, more consistent quality than poured-in-place concrete, and ability to reduce construction project times.
Structural Building Components to Remain the Largest Precast Concrete Product Segment
Structural building components is the largest precast concrete product segment and is expected to remain so in 2022. Precast concrete structural building components are popular because of the reduced construction time and durability they offer. Growth in commercial building construction expenditures will drive market gains, as precast concrete slabs and prefabricated building systems are most commonly used in commercial applications.
Commercial Market to Represent the Largest Share of Demand
The commercial building market accounted for nearly half of total precast concrete demand in 2017, and will continue to account for the largest single share of sales in 2022. Nonresidential buildings are extensive users of precast structural building products, which are valued for their strength and uniformity. Many commercial structures also use precast architectural building components -which are lower cost alternatives to building products such as clay roof tiles and natural stone facades- and other products such as grease interceptors and utility vaults.
Prestressed Products to Gain Share from Standard Products
Prestressed precast concrete products are expected to gain share from standard precast concrete materials going forward because of their superior durability. Though initially more expensive than standard products, prestressed products are longer lasting and thus offer buyers long term cost savings. However, standard products will continue to account for the majority of precast concrete demand in 2022. In addition to initial cost considerations, many precast concrete applications do not require materials to be prestressed because they will not be subject to severe structural strains.
Low-Cost Alternatives to Restrict Demand Growth
Precast concrete products will continue to face competition from construction materials such as steel and site-poured concrete. These alternative materials are generally less expensive, an important consideration for cost-conscious builders.
This study presents historical demand (2007, 2012, 2017) and forecasts for 2022 and 2027 by product (structural building components, architectural building components, transportation products, water and wastewater handling products, and other products), market (commercial buildings, nonbuilding, residential buildings, agricultural), and Census region (Northeast, Midwest, South, West) and subregion in dollar terms.
The study also provides company market share for competitors such as Coreslab Structures, Forterra, Oldcastle Preset, and Tindall.
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