by Corinne Gangloff
May 12, 2022
The Freedonia Group forecasts US demand for precast concrete products to increase 5.9% per year to $18.5 billion in 2026. Demand will be bolstered by the Infrastructure Investment & Jobs Act, which was passed in late 2021. This law both fills a void left by the recently expired FAST Act (which funded road and highway infrastructure) and significantly expands upon it, allocating over $1 trillion for a wide array of projects that fall under the larger banner of “infrastructure”.
Precast concrete products are used in a variety of infrastructure applications, including:
Gains in precast concrete product demand will be fueled by increased specification of precast concrete products over site-poured concrete and steel in many of these applications because of their long lifespans, resistance to degradation, and quick installation times.
Roads and bridges will remain the leading outlet for precast concrete in infrastructure construction applications due to the nation’s massive stock of bridges, highways, and roads, many of which will be repaired or upgraded using precast concrete products:
The bulk of the funding to address these shortcomings will come from the Infrastructure Investment & Jobs Act, which includes:
Precast concrete components will increasingly be incorporated into new and repair road and bridge projects despite their higher cost. For example:
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