Cleveland OH, May 12, 2022 – 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, according to a new Freedonia Group analysis. 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.
US Precast Concrete Products Demand to Grow Nearly 6% Annually Through 2026
The Freedonia Group projects demand for precast concrete products to increase 5.9% per year to $18.5 billion in 2026. 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
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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)
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