UK Precast Concrete Market - Forecast (2022 - 2027)

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UK Precast Concrete Market - Forecast (2022 - 2027)

UK Precast Concrete Market size is expected to be valued at US$6.7 billion by the end of the year 2027 and is set to grow at a CAGR of 6.8% during the forecast period from 2022-2027.

UK Precast Concrete Market size is expected to be valued at US$6.7 billion by the end of the year 2027 and is set to grow at a CAGR of 6.8% during the forecast period from 2022-2027. The increase in the demand for structural building components such as girders, pillars, paving slabs, staircases and sections are majorly driving the UK precast concrete market. The demand for precast concrete is increasing due to the properties provided by precast concrete such as dimensional accuracy, better quality critical elements, design flexibility, and faster erection. Furthermore, the growing emphasis on cost-effective and low-maintenance building products is also highly driving the UK precast concrete market. The increase in demand from the residential and construction sectors is also driving the UK precast concrete market.

COVID-19 impact

During the Covid-19 pandemic, the UK Precast Concrete market witnessed an exponential decrease in the growth of the market owing to the many restrictions following the covid-19 pandemic. The inter-state and inter-country restrictions in the UK affected the imports and exports of the UK. The distribution and supply chain of the UK precast concrete market was also affected due to the economic shutdown. The sales gradually decreased as there were no construction activities taking place in the UK during the Covid-19 pandemic. The situation however improved during the end of the year 2020 and is expected to further improve in the coming months of the year 2021.

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Report Coverage

The report: “UK Precast Concrete Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the UK Precast Concrete Industry.

By Product Type: Structural Building Components and Transportation Products.
By Application: Precast Concrete Flooring, Precast Concrete Stairs, Precast Concrete Walls, Building Exteriors, Civil Products, Precast Concrete Barriers, Precast Interlocking Concrete Blocks, Precast Ballast, and Kent ledges, Precast Concrete Hoarding Blocks, Solar Panel Ballast Blocks, Bespoke Precast Products, and Others.
By End-Use Industry: Building & Construction, Agriculture and Others

Key Takeaways

The increase in demand for efficient and price-worthy building products is driving the demand for UK precast concrete market.
The increasing demand from the residential construction and commercial construction sector is driving the demand for UK precast concrete market.
Amid the Covid-19 pandemic, the UK precast concrete market was highly affected by the various economic restrictions laid by the UK government. The UK precast concrete market is however set to improve by the year ending 2021.

UK Precast Concrete Market Segment Analysis – By Product Type

Structural Building Components held the largest share of 55% in the product type segment of the UK precast concrete market in the year 2021. Structural building components include beams, headers, trusses, panels, curbs, and others. The increase in demand for sustainable and eco-friendly building products is increasing the demand for structural building components in the UK precast concrete market. The increasing awareness about cost-effective and low-maintenance building materials is also driving the structural building components segment of the UK precast concrete market. Structural building components of precast concrete helps in reducing the time involved in the installation, repair, and maintenance which is one of the factors majorly driving the UK precast concrete market.

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UK Precast Concrete Market Segment Analysis – By Application

Precast concrete walls held the largest share of 30% in the UK precast concrete market in the year 2021. Structural components such as beams and columns are extensively used in the residential and commercial construction sector. Beams and columns are used in both building and non-building structures, which is highly driving the precast concrete walls segment. The increasing private and public expenditure in infrastructural projects is driving the growth of the installation of both building structures and non-building structures in the region which is eventually driving the beams and columns segment in the UK precast concrete market. According to the National Infrastructure Delivery Plan by the UK government, an amount of US$112.34 billion has been allocated for public infrastructure for the year 2020-2021. This is contributing to the demand for beams and columns segment in the UK precast concrete market.

UK Precast Concrete Market Segment Analysis – By End-Use Industry

The building and construction segment held the largest share of 45% in the UK precast concrete market in the year 2021. The increasing application of precast concrete products in the building and construction sector such as beams, columns, headers, panels, and others is driving the building and construction sector in the UK precast concrete market. According to the Office for National Statistics, Europe, the monthly construction output in the UK grew by 5.8% in March 2021, with an increase of 6.7% in new works and an increase of 4.4% in repair and maintenance activities. The output for March 2021 was valued at US$391.61 million in the UK. This is driving the demand for precast concrete structural components in the building and construction segment of the UK precast concrete market.

UK Precast Concrete Market Drivers

Implementation of policies for sustainable buildings in the UK

The increase in demand from the construction sector, (both residential and commercial construction sector) is driving the demand for UK precast concrete market. The demand for structural building components due to various advantages such as quick installation, more options, easy maintenance, and less cost is highly driving the UK precast concrete market. According to the European Commission, the European Union’s Europe 2020 goals were set for smart and sustainable growth that has an impact on the quality of the buildings, which is increasing the demand for the precast concrete market in the UK. The construction sector of the UK region provides 9% of the total GDP in the economy. This is one of the major factors driving the UK precast concrete market.

Increasing demand for cost-effective and low maintenance building products

The increase in demand for cost-effective and low maintenance building products from commercial and residential construction sector is driving the demand for UK precast concrete market. The demand for pre-cast concrete products such as precast concrete flooring, precast concrete staircases, precast concrete walls, building exteriors, posts, curbs, precast concrete blocks, precast concrete ledges, paving slabs and other precast products are driving the UK precast concrete market. The increase in demand for low maintenance and quick installation products is eventually increasing the demand for precast products. This is one of the major factors driving the UK precast concrete market.

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UK Precast Concrete Market Challenges

Volatile raw materials prices

The volatile nature of the price of raw materials in the UK is one of the major restraints of the UK precast concrete market. The frequently changing prices of raw material is one of the challenges faced by the UK precast concrete market. According to the Department of Business, Energy and Industrial (BEIS), the building materials (such as cement, aggregates and sand) in UK increased by 7.8% in the march 2021. The increase in the prices of materials like cement, aggregates and sand, which is used as raw material in producing precast concrete is acting as one of the major challenge to the UK precast concrete market.

UK Precast Concrete Industry Outlook

Facility expansion, production expansion, collaborations, partnerships, investments, acquisitions and mergers are some of the key strategies adopted by players in the UK Precast Concrete Market. Major players in the UK Precast Concrete Market include:

Milbank Concrete Products Limited
JP Concrete Products Ltd.
Moore Concrete Products Ltd.
EKC Systems Ltd.
3D Art Factory Ltd.
Albion Architectural Concrete (The Stone Cellar Company)
Althon Limited
Amber Valley Stone Ltd.
Belfast Minimix and Precast Concrete
Burran McAuley Construction Ltd.
Carlow Concrete Tanks
CB Precast Flooring Limited among others.

Acquisitions/Technology Launches

In November 2020, Moore Concrete Products Ltd released a new precast concrete product ‘XL Safety Slat’ in 2 thicknesses, 178mm (7”) deep up to 4572mm (15’) and 250mm (10”) up to 5000mm (16’ 5”) in length. This product facilitates larger modern day larger slurry pumps, and promotes safety to the surroundings.