South America Precast Concrete Market is expected to reach US$ 14,692.40 Mn by 2028

Commercial Segment to Dominate SAM Precast Concrete Market during 2021–2028.

According to The Insight Partners market research study on “SAM Precast Concrete Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Structure System and End Use,” is expected to reach US$ 14,692.40 million by 2028 from US$ 10,289.48 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the SAM precast concrete market along with the drivers and restraints pertaining to the market growth. Need for cost-efficient, safe, and eco-friendly products is the major factor driving the growth of the SAM precast concrete market. However, issues associated with the fluctuation in raw material prices hinder the growth of SAM precast concrete market.

The SAM precast concrete market is segmented into structure system, end use, and country. On the basis of use by structure system, the SAM precast concrete market is categorized into beam and column system, floor and roof system, bearing wall system, façade 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 SAM 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.

Brazil has the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Governments of these countries have taken an array of actions to protect their citizens and contain COVID-19 spread. Nevertheless, the region is experiencing lower export revenues, both from the drop in commodity prices and reduction in export volumes, primarily due to lowered export performance in China, Europe, and the US. In addition, containment measures in several South American countries have reduced economic activity in the chemicals & materials industry, and also halted their infrastructure and construction activities as a result of COVID-19; however, the industry is likely to rebound once the country manages to control the epidemic.

Abetong AB, CEMEX S.A.B. de C.V., Consolis, ELO Beton, and LafargeHolcim are among the leading companies in the SAM 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 SAM Precast Concrete market as follows:

 SAM Precast Concrete Market – By Structure System

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

SAM Precast Concrete Market – By End Use

• Residential
• Commercial
• Others

SAM Precast Concrete Market – By Country

• Brazil
• Argentina
• Rest of SAM