Commercial buildings are the most important outlet for precast concrete products, as both the leading market and one of the fastest growing through 2026. According to a new Freedonia Group analysis, 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.
Structural Components to Be the Fastest Growing Product Type in the Commercial Building Market
Rising use of precast concrete products on such structures as childcare facilities, VA hospitals, and other healthcare facilities will support demand gains for precast concrete products in the commercial market, finds the analysis. Structural building components represent the largest category in demand terms, and will grow the fastest due to strong demand gains for:
- precast concrete slabs, due to their durability and ability to reduce completion time
- prefabricated building systems, as builders increasingly specify these products over site-built structures because they are quicker to construct
- structural supports, as they are increasingly specified in high-rise commercial structures because of their tensile strength and uniformity
Architectural building components products are also used extensively in the commercial market for precast concrete products.
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Precast Concrete Products provides historical data for 2011, 2016, and 2021 and forecasts to 2026 for precast concrete product demand in millions of dollars by product, market, and region and subregion.
- structural building components
- architectural building components
- water handling products
- other products, including transportation construction, utility, cemetery, agricultural, and marine products
- commercial and residential buildings
- niche markets, including cemetery products, agricultural structures, landscaping, and consumer and commercial products
- Northeast (Middle Atlantic and New England)
- Midwest (East North Central and West North Central)
- South (South Atlantic, East South Central, and West South Central)
- West (Mountain and Pacific)