The construction industry is continually evolving, using newer technology as a means of building structures more efficiently. One growing trend is the use of precast concrete, which involves pouring and curing concrete in a facility and delivering said concrete components to a job site.
The precasting process produces less waste, reduces the need for labor on individual job sites, and speeds up the overall construction process, and it’s these benefits that are helping fuel the trend of using precast products. In fact, analysts expect the industry to grow rapidly in the near future as more residential and commercial property owners turn toward the precast concrete market.
What Is Fueling the Growth of the Precast Concrete Industry?
Financial forecasters expect the precast concrete industry to exceed $156 billion in market size by 2030, a surge in growth that will result from more construction contractors turning to precast products for their higher durability and overall better quality. Since precast products are built in controlled facilities, weather and other environmental factors won’t affect the quality of the materials.
When a precast model is already in stock, the time it takes to complete a construction project is significantly reduced. The speed and reduced costs associated with using precast products provide practical advantages for contractors and their customers.
What Products Can Be Precast?
The method of precasting concrete can be useful for manufacturing a variety of components. Some of the earliest uses of this method involved forming concrete wall panels for use in constructing retaining and security walls. Currently, the industry makes underground pipes, vaults, tanks, and slabs of various dimensions. As the industry continues to evolve, other products will be more efficiently created with this method.
How Are Precast Products Beneficial?
Another factor that’s driving the growth of the precast concrete industry is the way it benefits societies throughout the world. Buildings, bridges, and dams can all be constructed in countries that don’t have the technology to create these structures on-site. A manufacturer can deliver precast products to those locations, helping to improve the infrastructure of underdeveloped areas.
Precasting concrete components is also helpful here in the US. When there are supply chain issues or labor shortages that adversely affect the construction industry, contractors can use precast products to circumvent project delays. Since these components are premade, many of them may already be in stock before a supply chain issue arises, and once precast products are manufactured, flatbed trucks can deliver them to any location.
There’s No End in Sight
In the past year, some of this expected growth already proved to affect the market. In 2021, more contractors used premade components to complete their projects, as these products helped contractors complete more projects while ensuring those new constructions were stronger and more durable.
The industry will expand in the coming years as more people request precast components for their projects. Stronger precast products will help build structures that are more resistant to the structural damage that heavy storms can cause, which will lead to more building constructions incorporating precast products in tropical regions.
Simplify Your Project with Precast Products
American Precast Concrete can help you learn more about this growing industry. If you’re planning a new construction or hardscaping project, contact us to learn how you can use our precast products.