Precast concrete is a material made by pouring concrete into molds of desired shapes for construction applications. Then, the concrete is left to cure in an appropriate environment, and once it is cured, the mold is removed and reused. Precast concrete is made by using raw materials, including cement, aggregates, water, admixtures, reinforcement, release agents, coloring agents, curing materials, and chemical additives. It is a predominant building material used in the construction of office buildings and other commercial spaces. Precast concrete plays an important role in various buildings, offering durability, versatility, and efficiency in construction. Various benefits of precast concrete are construction speed, strength, quality control, cost saving, and design options. Different examples of precast concrete structures are precast concrete slabs, precast concrete beams, precast concrete walls, precast columns, precast stairs, and many others.
The use of precast concrete can help lower construction costs and ensure significant savings before, during, and after the completion of construction projects. Unlike traditional building components, precast components are manufactured from locally sourced, natural raw materials such as cement, sand, stones, and gravel. These raw materials can be reused or recycled completely, which helps minimize the environmental impact of raw materials over their life cycle. Several companies focus on promoting safe and digitized construction with an aim to reduce the number of on-site fatalities. The demand for precast components in construction work is increasing with the growing digitalization in this industry. Precast concrete is a predominant building material used in the construction of office buildings and other commercial spaces. Walls of these buildings can be fabricated while the foundations are being built on-site, saving time and ensuring early occupancy. Due to the ease and speed with which precast structures can be constructed, precast concrete is also widely used in parking structures. In addition, it is a safe and cost-effective material that can withstand all weather conditions. Further, precast concrete can be manufactured with superior quality control than on-site concrete construction. It aids in the construction of eco-friendly, earthquake-resistant, and energy-efficient structures, in contrast to cast-in-situ concrete structures as well as steel, timber, and masonry structures. Thus, the increasing emphasis on cost-effective, safe, and environment-friendly construction operations drives the growth of the Europe precast concrete market
Further, volatile raw material prices can result in delays and cost overruns in construction projects. Fluctuations in raw material prices can deter long-term investment and expansion strategies of precast concrete businesses.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 29,351.49 Million |
| Market Size by 2030 | US$ 46,422.54 Million |
| Global CAGR (2022 - 2030) | 5.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Structure System
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The List of Companies - Europe Precast Concrete Market