4 Facts and Stats about Precast Concrete

Precast concrete is a fascinating construction material, and it’s no wonder it’s rising in popularity among designers, architects, developers, and construction managers. Precast products are created using reusable forms. The concrete is then cured in a controlled factory environment, and subsequently transported to the construction site for installation.
Now that you know how it’s made, want to know more facts and stats about precast concrete? You’re in the right place. Check out more interesting information and precast below.

1. The Global Market Is Predicted to Reach $168.17 Billion by 2026

A report by Reports and Data has shed light on the vast size of the global precast market. As more and more construction companies seek to reduce costs, speed up timelines, and go green, they’re increasingly turning to precast concrete as their construction material of choice.
There’s no doubt that the rapid industrialization and urbanization is also driving the market’s growth, as precast is an excellent material choice for large buildings and structures like malls, industrial parks, parking garages, high rises, and bridges. In the future, the introduction of smart cities will likely also boost demand for precast.

2. The Global Market Is Predicted to Grow at a CAGR of 6.3%

There’s a reason the precast concrete market is predicted to grow at a rapid compound annual growth rate (CAGR) of 6.3% between 2020 and 2027: among other reasons, it’s a key player in the green construction industry.
The rising prominence of offsite construction of concrete is known to increase efficiency and reduce material waste. These are significant advantages for construction firms emphasizing green building projects.

3. It Can Withstand Just about Anything

While no building material is completely invincible, precast concrete may come as close as any material can get. If fire comes in contact with concrete, it doesn’t release any toxic fumes, either. It is a non-combustible material that’s virtually fireproof, which is why it’s often the preferred choice for healthcare buildings, schools, office buildings, and apartment complexes where there is a concern of fire spreading from room to room and floor to floor.
It’s also naturally corrosive-resistant and water-resistant, so it’s incredibly durable. That’s why you’ll often see it in underground structures like parking garages and basements.
It won’t rot either, so it requires very little maintenance and can last well over 100 years.
Its long lifespan can also be attributed to its strength. You can pour concrete on site for your construction project, but it won’t be as strong as precast. That’s because precast concrete is manufactured using strict quality controls, it’s reinforced, and it’s created in a controlled environment to deliver consistently high compressive strength, each time. This is in contrast to on-site concrete, which can vary in strength and quality due to weather, workers’ skills, and a variety of other factors.

4. Concrete Is the Most Used Material in the World in Terms of Volume

From offices and industrial parks to residential homes and road construction, concrete has been the go-to construction material in virtually all sectors. In fact, it’s used twice as much as steel and timber.
Virtually any form can be created, no matter how large, how small, or how custom, which makes it a great material option for a wide range of uses. Above and beyond its versatility, precast is also popular due to its low maintenance, environmentally friendly nature, and long-lasting benefits.
In fact, precast concrete is the only material that can be used for some projects, such as underwater construction. It has anti-corrosive properties that make it a safe and secure material for the construction of dams, bridges, and any other structure with an underwater foundation.
Even so, it’s still a popular material for residential projects, including the creation of countertops, fireplaces, sinks, and outdoor furniture.
There truly are no bounds to what products you can build with precast.

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