Precast Concrete Market: Snapshot

Precast concrete is a construction product, made by casting concrete in a reusable mold or "form", which is then cured in a controlled environment and transported to the construction site for installation. There are different types of precast concrete forming systems for architectural applications, which differ in size, function, and price. Usage of precast elements eliminates or highly reduces the need for conventional formworks and props. They also lower the generation of wastage and checks other environmental hazards. They further provide a safe working platform to the workers. Precast products are manufactured in a casting area where critical factors such as temperature, mix design, and stripping time can be closely checked and controlled, which ensures that the quality of precast products is better than that of cast-in-situ concrete. Moreover, it saves a considerable sum of money through eliminating rectification work. Furthermore, due to factory-controlled environment, different combinations of colors and textures can be applied easily to the architectural or structural pieces. A vast range of sizes and shapes of precast components can be produced, providing flexibility and fresh look to the structures. These are the advantages of using precast concrete. Precast concrete is primarily used in the construction of buildings with repetitive designs and elements, such as schools and apartments. It provides architects with an exciting medium while designing facades for a wide range of buildings, such as healthcare facilities, shopping malls, commercial buildings, and stadiums.

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Building & Construction Industry to Impact on Precast Concrete Market

Rise in investment in the building & construction industry owing to various government-supported welfare housing schemes has boosted the demand for precast concrete during recent times. In addition, factors such as increasing disposable income, coupled with rising purchase of house, have propelled the demand for precast concrete. Furthermore, rebuilding, refurbishing, and renovation of old buildings have boosted investments in the building & construction industry, thereby augmenting the demand for precast concrete. Low interest rates in housing has also led to investments in the building & construction industry, thus propelling the demand for precast concrete.

Drivers of the Precast Concrete Market

  • Controlled Climate

Precast concrete is manufactured in plants under strictly controlled conditions, which leads to excellent resource efficiency for materials, labor, energy, and processes. Most precast concrete facilities are clean and productive, with computer-controlled processes for batching, mixing, and casting. Efficiency programs are also helping in reducing the consumption of energy in the plant.

  • Reduced Construction Time and Cost

Precast concrete construction helps in saving time and in reducing the risk of delay or monetary loss in the project. Furthermore, the production process remains unaffected by weather conditions due to the controlled environment of the casting area. Also, usage of large precast panels reduces the time taken to complete structural works.

  • High Quality of Products

Precast products are manufactured in a casting area where crucial factors such as temperature and mix designs are checked and controlled. By doing so, a substantial amount of money is saved. Moreover, due to factory-controlled prefabrication environment, different combinations of colors and textures can be applied easily to the architectural or structural pieces. A vast range of sizes and shapes of precast components can be produced, providing flexibility and fresh looks to the structures.

  • Safer Construction Sites

Precast construction lessens the problem of site wastages and related environmental hazards. It also provides a safe working platform to the workers. Expenditure on workers and materials can also be reduced. Using just-in-time principles, the precast elements are kept at the factory yard until the site is ready for installation.

  • Increased Durability and Load Capacity of Structural Elements

Prestressed precast concrete components have high structural strength and rigidity, which are essential for supporting heavy loads. This allows shallow construction depth and long span in structural components. Fewer supporting columns or walls result in larger floor space, which enables flexibility in interior designing. Dense precast and prestressed concrete components are cast-in with smooth steel, concrete, or fiberglass. This result in components with smooth surfaces which resist moisture penetration, fungus, and corrosion.

However, high initial costs for small-scale projects when compared to conventional methods and transportation of precast units to distant places are anticipated to hinder the growth of the precast concrete market.

Emerging Economies Dominating the Precast Concrete Market

In terms of revenue, Asia Pacific leads the precast concrete market owing to rise in investment in the building & construction industry, which can be ascribed to the surge in industrialization and urbanization in the emerging economies in the region such as China, India, and Japan. Factors such as government-supported welfare housing schemes have also increased the demand for precast concrete. Furthermore, upsurge in activities such as rebuilding, refurbishing, and renovation of old buildings has augmented investments in the building & construction industry, thereby fuelling the demand for precast concrete in the region. Asia Pacific is followed by Europe, in terms of value, owing to the presence of a well-established industrial base in the region, which continuously requires investment.

Leading Players Focusing on Geographical Expansion

Key players operating in the precast concrete market include Lafarge Holcim Limited, China National Building Material Company Limited, Elematic Oyj, Cemex S.A.B. De C.V., CRH Plc., L&T Construction, Taisei Corporation, Coltman Precast Concrete Limited, Bison Manufacturing Limited, and Weckenmann Anlagentechnik GmbH & Co. KG. Cost leadership, asset light approach, commercial transformation, investing in research & development, and focus on sustainability are some of the major strategies followed by these players.

Precast Concrete Market: Overview

Precast concrete products are manufactured in a controlled factory environment under stipulated conditions. Precast concrete construction involves casting of concrete in a mold, curing it in a controlled condition, and transporting the product to the construction site, followed by installation of the product. Precast concrete products include load-bearing precast elements, foundation walls, reinforced concrete pipes, floor and roof slabs, architectural panels, sound-barrier walls, retaining walls, box culverts, utility boxes, modular housing, manholes, paving elements, grease and oil interceptors, precast tanks, septic tanks, bridges, piers, and tunnels. They offer various advantages over conventional construction techniques, such as reduction in lead time, quality control, aesthetics & value, accuracy, durability & strength, optimization, and low maintenance.

This report analyzes and forecasts the precast concrete market both at the global and regional levels. The forecast has been represented in terms of revenue (US$ Mn) for the period of 2016 to 2025. The study includes drivers and restraints of the global precast concrete market and their projected impact on the market during the forecast period. It also highlights the business opportunities exhibited by the market at the global and regional levels.

The report comprises a detailed analysis of the value chain of the precast concrete market, which provides a comprehensive view of the global market. Porter’s Five Forces model has also been included in the study to help understand the competitive landscape of the precast concrete market. It further contains market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides a decisive view of the global precast concrete market by segmenting it in terms of process and application. These segments have been analyzed based on their present and future trends. Further, regional segmentation of the precast concrete market includes the current and projected demand for the product in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual processes and application segments of the market across regions.

The study includes profiles of the major companies operating in the global precast concrete market such as Bison Manufacturing Limited, Cemex S.A.B. De C.V., China National Building Material Company Limited, Coltman Precast Concrete Limited, CRH plc, Elematic Oyj, LafargeHolcim Ltd., Larsen & Toubro Limited, Taisei Corporation, and Weckenmann Anlagentechnik GmbH & Co. KG. They have been profiled in terms of attributes such as company overview, overall revenue, business strategies, recent developments, and SWOT analysis. The report comprises indications regarding market position, offerings, R&D focus, top-line growth, market share, segment growth, infrastructure facilities, and future outlook of these players.

The report presents the market size of precast concrete for 2016 and its estimated size for the next eight years in terms of revenue. The numbers have been estimated based on process and application segments of the market. Market size forecast for each major process and application has also been provided for the global as well as regional market.

Global Precast Concrete Market: Segmentation

Structure System Analysis

  • Beam & Column System
  • Floor & Roof System
  • Bearing Wall System
  • Façade System
  • Others

End-use Analysis

  • Building Works
    • Residential
    • Non-residential
  • Civil Works
    • Hydraulic Works
    • Transportation Works
    • Power Plants & Communication Works
    • Specialized Works

Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Key Takeaways

  • A comprehensive analysis of the trends and value share of the precast concrete market from 2016 to 2025 to help identify and track market opportunities and industry developments
  • An examination of key factors responsible for developing the future roadmap of the precast concrete market at the global, regional, and country level
  • An in-depth analysis of the regulatory scenario likely to impact the global precast concrete market between 2016 and 2025
  • An insight into the opportunities that the market holds for its stakeholders and a detailed competition landscape of the key players dominating the market, and,  
  • Porters’ Five Forces analysis that highlights the efficacy of buyers and suppliers and enables stakeholders to make profit-oriented business decisions