Asia Pacific Precast Concrete Market is expected to reach US$ 87,348.11 Mn by 2028


PRESS RELEASE BY The Insight Partners 09 Jul 2021

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Beam and Column System Segment to Dominate APAC Precast Concrete Market during 2021–2028.

According to The Insight Partners market research study on “APAC Precast Concrete Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Structure System and End Use,” is expected to reach US$ 87,348.11 million by 2028 from US$ 55,037.62 million in 2021. The market is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report provides trends prevailing in the APAC precast concrete market along with the drivers and restraints pertaining to the market growth. Helpful government initiatives is the major factor driving the growth of the APAC precast concrete market. However, issues associated with the volatility in raw material cost hinder the growth of APAC precast concrete market.

The APAC Precast Concrete market is segmented into structure system, end use, and country. On the basis of use by structure system, the APAC  precast concrete market is categorized into beam and column system, floor and roof system, bearing wall system, facade system and others. In 2020, the beam and column system segment is dominating the precast concrete market and is also the fastest growing segment during the forecast period. Based on end use, the APAC precast concrete market is categorized into residential, commercial and others. In 2020, the residential segment is dominating the precast concrete market and is also the fastest growing segment during the forecast.

The COVID-19 outbreak is anticipated to cause a significant economic loss in APAC. The consequence and impact are likely to worsen with the spread of the virus. The governments of various APAC countries imposed lockdowns in early 2020 to restrict the spread of the virus, which, in turn, negatively impacted the production of precast concrete. The governments have asked the chemicals & materials manufacturers to delay their production, which will adversely affect the global supply of precast concrete. However, the demand for modular buildings has risen due to an increase in the number of COVID-19 cases and the need for healthcare and quarantine buildings/units in the region due to consistently increasing COVID-19 cases. The governments of various countries in the region have realigned their operations, restructured their production facilities, and procured raw materials required for precast concrete in advance to avoid an imbalance between supply and demand. This factor has supported the construction industry, thereby increasing the demand for precast concrete in the region. Thus, the overall impact of COVID-19 on the precast concrete market is minor as compared to other regions.

Abetong AB, Boral, CEMEX S.A.B. de C.V., Consolis, ELO Beton, and LafargeHolcim, are among the leading companies in the APAC precast concrete market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the APAC Precast Concrete market as follows:

 APAC Precast Concrete Market – By Structure System

  • Beam and Column System
  • Floor and Roof System
  • Bearing Wall System
  • Facade System
  • Others

APAC Precast Concrete Market – By End Use

  • Residential
  • Commercial
  • Others

APAC Precast Concrete Market – By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
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