Precast Concrete Products

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Precast Concrete

Through 2026, demand for precast concrete products is forecast to increase 5.9% per year to $18.5 billion. Gains will be driven by:

increased commercial building construction
a massive influx of federal funding for infrastructure projects
the rising specification of precast concrete over competitive products because of its durability, strength, ease of installation, and ability to be customized

Commercial Building Market to Drive Demand Growth

Commercial buildings are the most important outlet for precast concrete products, as both the leading market and one of the fastest growing through 2026. Strong opportunities for demand in this market stem from:

a rebound in underlying construction following losses during the pandemic
greater use of precast concrete at the expense of competing materials

Precast concrete products are increasingly specified during the construction of a variety of commercial structures (including high-rise offices, hotels, and industrial buildings) because of their durability and uniformity, which is particularly important for large commercial buildings that require significant volumes of materials because it can speed construction. As skilled labor becomes more expensive and difficult to come by, efficiencies offered by precast products are growing in importance.

Infrastructure Law to Boost Precast Concrete Demand

Precast concrete product demand will be bolstered by the Infrastructure Investment & Jobs Act, which was passed in late 2021 and allocates $1 trillion (over eight years) for a wide array of infrastructure related projects around the US. Many of these projects – including the renovation of bridges, railroads, roads, highways, public utility structures, and water and sewage facilities – will provide opportunities for precast concrete manufacturers.

Precast Concrete Is Making Inroads Against Competitive Products in Structural Construction

Structural building components account for the leading share of precast concrete demand by product, and demand is expected to grow at the fastest pace through 2026. Precast concrete products will be increasingly specified as concrete slabs, prefabricated buildings, foundations, and supports because of their:

ease of installation, which reduces construction costs and labor needs, a key factor as workers in general and skilled laborers in particular become increasingly scarce
greater durability than competitive products like poured-in-place concrete
consistent quality due to their production in factory settings

However, precast concrete products will continue to compete with poured-in-place concrete – throughout the forecast period and beyond – due to the latter’s lower cost and familiarity among building contractors.

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Table of Contents

1. Executive Summary

2. COVID-19 Pandemic

Overview

Impact on the Economy

Impact on the Construction Industry

Impact on the Precast Concrete Industry

3. Overview

Study Scope

Historical Trends

Supply & Demand

Products Overview

Markets Overview

Production Methods

Standard Precast Concrete

Prestressed Precast Concrete

Volume & Pricing Trends

4. Factors Impacting Precast Concrete Demand

Building Construction Outlook

Infrastructure Spending Outlook

Building Codes & Regulations

Sustainability Initiatives

5. Structural Building Components

Scope & Product Description

Products

Demand by Product

Concrete Slabs

Prefabricated Building Systems

Structural Supports

Foundations

Other Structural Components

Markets

6. Architectural Building Components

Scope & Market Description

Products

Demand by Product

Decorative Facades

Roofing Tile

Siding

Window & Door Components

Fencing

Other Architectural Components

Markets

7. Water Handling Products

Scope & Product Description

Products

Demand by Product

Septic Tanks

Manholes

Drains, Channels, & Collection Units

Culverts

Interceptors & Separators

Other Water Handling Products

Markets

8. Other Precast Concrete Products

Scope & Product Description

Products

Demand by Product

Bridge Components (Supports, Tees & Slabs)

Utility Products

Pilings, Caissons, & Piers

Paving Slabs & Panels

Noise & Traffic Barriers

Retaining Walls

Railroad Ties & Crossing Panels

All Other Precast Concrete Products

Markets

9. Buildings Market

Market Scope

Product Trends

Market Sectors

Residential Buildings

Product Trends & Key Growth Drivers

New Construction

Improvement & Repair

Commercial Buildings

Product Trends & Key Growth Drivers

New Construction

Improvement & Repair

10. Infrastructure Markets

Market Scope

Product Trends & Key Growth Drivers

Market Sectors

Demand by Sector

Roads & Bridges

Water & Sewer

Electric Utilities

Other Infrastructure Projects (Railroad, Marine, Airport)

11. Niche Markets

Market Sectors

Cemetery Products

Agricultural Structures

Landscaping Retaining Walls

Consumer & Commercial Products

12. Regional Trends

Demand by Region

Northeast

Demand by Subregion

New England

Middle Atlantic

Midwest

Demand by Subregion

East North Central

West North Central

South

South Atlantic

East South Central

West South Central

West

Mountain

Pacific

13. Industry Structure

Key Findings & Industry Composition

Market Share

Mergers & Acquisitions

List of Industry Participants

14. Appendix

Report Details

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Spending

Consumer Financing

Residential Building Construction

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Improvements & Repairs

Nonbuilding Construction Expenditures

Housing Stock

List of Tables

2. COVID-19 Pandemic

Table 2-1 | Macroeconomic Indicators, 2019 - 2023 (billion 2012 dollars)

Table 2-2 | Construction Expenditures, 2019 - 2023 (billion 2012 dollars & billion dollars)

Table 2-3 | Annual Precast Concrete Demand by Product, 2019 - 2022 (million dollars)

Table 2-4 | Annual Precast Concrete Demand by Market, 2019 - 2022 (million dollars)

3. Overview

Table 3-1 | Precast Concrete Product Demand, 2011 - 2021 (million dollars)

Table 3-2 | Precast Concrete Product Supply & Demand, 2011 - 2031 (million dollars)

Table 3-3 | Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Table 3-4 | Precast Concrete Product Demand by Market, 2011 - 2031 (million dollars)

Table 3-5 | Precast Concrete Product Demand by Production Method, 2011 - 2031 (million dollars & million 2012 dollars)

Table 3-6 | Precast Concrete Product Average Price by Production Method, 2011 - 2031 (dollars per cubic yard)

5. Structural Building Components

Table 5-1 | Precast Concrete Structural Building Component Demand by Product, 2011 - 2031 (million dollars)

Table 5-2 | Precast Concrete Slab Demand by Type & End Use, 2011 - 2031 (million dollars)

Table 5-3 | Precast Concrete Prefabricated Building System Demand by Market, 2011 - 2031 (million dollars)

Table 5-4 | Precast Concrete Structural Support Demand by Type, 2011 - 2031 (million dollars)

Table 5-5 | Precast Concrete Foundation Demand by Type, 2011 - 2031 (million dollars)

Table 5-6 | Other Precast Concrete Structural Component Demand, 2011 - 2031 (million dollars)

Table 5-7 | Precast Concrete Structural Building Component Demand by Market, 2011 - 2031 (million dollars)

6. Architectural Building Components

Table 6-1 | Precast Concrete Architectural Building Component Demand by Product, 2011 - 2031 (million dollars)

Table 6-2 | Decorative Façade Precast Concrete Product Demand by Market & Application, 2011 - 2031 (million dollars)

Table 6-3 | Precast Concrete Roofing Tile Demand by Market & Application, 2011 - 2031 (million dollars)

Table 6-4 | Precast Concrete Siding Demand by Market, 2011 - 2031 (million dollars)

Table 6-5 | Precast Concrete Window & Door Component Demand by Market & Application, 2011 - 2031 (million dollars)

Table 6-6 | Precast Concrete Fencing Demand by Market & Application, 2011 - 2031 (million dollars)

Table 6-7 | Other Architectural Precast Concrete Product Demand by Market & Application, 2011 - 2031 (million dollars)

Table 6-8 | Precast Concrete Architectural Component Demand by Market & Application, 2011 - 2031 (million dollars)

7. Water Handling Products

Table 7-1 | Precast Concrete Water Handling Product Demand by Product, 2011 - 2031 (million dollars)

Table 7-2 | Precast Concrete Septic Tank Demand by Market & Application, 2011 - 2031 (million dollars)

Table 7-3 | Precast Concrete Interceptor & Separator Demand by Market, 2011 - 2031 (million dollars)

Table 7-4 | Precast Concrete Water Handling Product Demand by Market & Application, 2011 - 2031 (million dollars)

8. Other Precast Concrete Products

Table 8-1 | Other Precast Concrete Product Demand by Product, 2011 - 2031 (million dollars)

Table 8-2 | Precast Concrete Bridge Component Demand by Type, 2011 - 2031 (million dollars)

Table 8-3 | Precast Concrete Utility Product Demand by Type, 2011 - 2031 (million dollars)

Table 8-4 | Precast Concrete Barrier Demand by Type, 2011 - 2031 (million dollars)

Table 8-5 | Precast Concrete Retaining Wall Demand by Type, 2011 - 2031 (million dollars)

Table 8-6 | All Other Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)

Table 8-7 | Other Precast Concrete Product Demand by Market Application, 2011 - 2031 (million dollars)

9. Buildings Market

Table 9-1 | Building Precast Concrete Product Demand by Product, 2011 - 2031 (million dollars)

Table 9-2 | Building Precast Concrete Product Demand by Market, 2011 - 2031 (million dollars)

Table 9-3 | Residential Building Precast Concrete Demand by Product & Application, 2011 - 2031 (million dollars)

Table 9-4 | New Residential Building Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Table 9-5 | Residential Improvement & Repair Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Table 9-6 | Commercial Building Precast Concrete Demand by Product & Application, 2011 - 2031 (million dollars)

Table 9-7 | New Commercial Building Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Table 9-8 | Commercial Improvement & Repair Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

10. Infrastructure Markets

Table 10-1 | Infrastructure Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Table 10-2 | Infrastructure Precast Concrete Product Demand by Sector, 2011 - 2031 (million dollars)

Table 10-3 | Road & Bridge Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)

Table 10-4 | Water & Sewer Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)

Table 10-5 | Other Infrastructure Precast Concrete Product Demand by Type, 2011 - 2031 (million dollars)

11. Niche Markets

Table 11-1 | Niche Precast Concrete Product Demand, 2011 - 2031 (million dollars)

Table 11-2 | Cemetery Precast Concrete Product Demand, 2011 - 2031 (million dollars)

Table 11-3 | Precast Concrete Agricultural Structure Demand, 2011 - 2031 (million dollars)

Table 11-4 | Precast Concrete Landscaping Retaining Wall Demand, 2011 - 2031 (million dollars)

Table 11-5 | Consumer & Commercial Precast Concrete Product Demand, 2011 - 2031 (million dollars)

12. Regional Trends

Table 12-1 | Precast Concrete Product Demand by Region, 2011 - 2031 (million dollars)

Table 12-2 | Northeast: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)

Table 12-3 | Midwest: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)

Table 12-4 | South: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)

Table 12-5 | West: Precast Concrete Product Demand by Subregion, 2011 - 2031 (million dollars)

13. Industry Structure

Table 13-1 | Precast Concrete Product Sales by Company, 2021 (million dollars)

Table 13-2 | Selected Mergers & Acquisitions

Table 13-3 | Selected Industry Participants

14. Appendix

Table 14-1 | Relevant Industry Codes

Table 14-2 | Relevant HS/HTS Codes

Table 14-3 | Abbreviations & Acronyms Used in Study

Table 14-4 | Macroeconomic Indicators, 2011 - 2031 (billion 2012 dollars)

Table 14-5 | Population & Households, 2011 - 2031 (million persons)

Table 14-6 | Personal Consumption Expenditures, 2011 - 2031 (billion dollars)

Table 14-7 | Consumer Financing Environment, 2011 - 2021

Table 14-8 | Residential Building Construction Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)

Table 14-9 | Residential Improvement & Repair Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)

Table 14-10 | Commercial Building Construction Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)

Table 14-11 | Commercial Building Improvement & Repair Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)

Table 14-12 | Nonbuilding Construction Expenditures, 2011 - 2031 (billion dollars & billion 2012 dollars)

Table 14-13 | Housing Stock by Type, 2011 - 2031 (million units)

List of Figures

1. Executive Summary

Figure 1-1 | US Precast Concrete Market Overview

2. COVID-19 Pandemic

Figure 2-1 | Real GDP by Economic Sector, 2020 - 2023 (% annual change)

Figure 2-2 | Precast Concrete Value Demand by Market, 2019 - 2023 (% annual change)

3. Overview

Figure 3-1 | Precast Concrete Products: Product Examples

Figure 3-2 | Precast Concrete Product Demand, 2005 - 2021 (million dollars)

Figure 3-3 | Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Figure 3-4 | Precast Concrete Product Demand by Market, 2011 - 2031 (million dollars)

Figure 3-5 | Precast Concrete Product Demand by Production Method, 2011 - 2031 (million dollars)

Figure 3-6 | Precast Concrete Product Prices, 2003 - 2026 (dollar per cubic yard)

4. Factors Impacting Precast Concrete Demand

Figure 4-1 | US Construction Expenditures by Building Type, 2010 - 2030 (billion dollars)

5. Structural Building Components

Figure 5-1 | Precast Concrete Structural Building Components: Product Examples

Figure 5-2 | Precast Concrete Structural Building Component Demand by Product, 2011 - 2031 (million dollars)

6. Architectural Building Components

Figure 6-1 | Architectural Building Components: Product Examples

Figure 6-2 | Precast Concrete Architectural Building Component Demand by Product, 2011 - 2031 (million dollars)

7. Water Handling Products

Figure 7-1 | Precast Concrete Water Handling Products: Examples

Figure 7-2 | Water Handling Precast Concrete Demand by Product, 2011 - 2031 (million dollars)

Figure 7-3 | Precast Concrete Manhole Demand, 2005 - 2026 (million dollars)

Figure 7-4 | Precast Concrete Drain, Channel, & Collection Unit Demand, 2005 - 2026 (million dollars)

Figure 7-5 | Precast Concrete Culvert Demand, 2005 - 2026 (million dollars)

Figure 7-6 | Other Precast Concrete Water Handling Product Demand, 2005 - 2026 (million dollars)

8. Other Precast Concrete Products

Figure 8-1 | Other Precast Concrete Products: Examples

Figure 8-2 | Other Precast Concrete Product Demand by Product, 2011 - 2031 (million dollars)

Figure 8-3 | Precast Concrete Piling, Caisson, & Pier Demand, 2005 - 2026 (million dollars)

Figure 8-4 | Precast Concrete Paving Slab & Panel Demand, 2005 - 2026 (million dollars)

Figure 8-5 | Precast Concrete Railroad Tie & Crossing Panel Demand, 2007 - 2026 (million dollars)

10. Infrastructure Markets

Figure 10-1 | Electric Utility Precast Concrete Product Demand, 2005 - 2026 (million dollars)

11. Niche Markets

Figure 11-1 | Niche Precast Concrete Product Examples

12. Regional Trends

Figure 12-1 | Precast Concrete Product Demand by Region, 2011 - 2031 (million dollars)

Figure 12-2 | New England Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-3 | Middle Atlantic Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-4 | East North Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-5 | West North Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-6 | South Atlantic Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-7 | East South Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-8 | West South Central Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-9 | Mountain Precast Concrete Product Demand, 2005 - 2026 (million dollars)

Figure 12-10 | Pacific Precast Concrete Product Demand, 2005 - 2026 (million dollars)

13. Industry Structure

Figure 13-1 | US Precast Concrete Product Market Share, 2021 (billion dollars)

Figure 13-2 | Projected US Precast Concrete Product Market Share, 2022

Figure 13-3 | US Precast Concrete Product Market: Leading Supplier, 2021

Figure 13-4 | US Precast Concrete Product Market: Second Leading Supplier, 2021

Figure 13-5 | US Precast Concrete Product Market: Third Leading Supplier, 2021

Figure 13-6 | US Precast Concrete Product Market: Fourth Leading Supplier, 2021

14. Appendix

Figure 14-1 | Housing Stock: Share by Year of Construction, 2021 (percent)