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Rising population, rapid urbanisation, and industrialisation are propelling the growth of the precast concrete industry. The rise in construction and renovation activities around the world is augmenting the market growth. The increasing environmental consciousness and the rising demand to reduce noise and dust pollution are further strengthening the market growth. Moreover, the increasing demand for eco-friendly construction due to stringent government policies and the growing reliance on prefabrication of the construction sector is also fuelling the market growth. In addition, the increasing emphasis on energy-efficient and low maintenance products is expected to aid the market growth. The Asia Pacific region holds a significant share of the market owing to the rising population and the robustly growing construction industry. Various government initiatives towards infrastructural development to increase affordable housing are further facilitating the market growth in the region.
Boral Ltd. (ASX: BLD), one of the leading players, supplied construction materials for the manufacture of 56,000 precast concrete segments to the Melbourne Metro Tunnel project in 2018. The highly specified concrete is supplied to meet the project’s stringent fire resistant requirements. It launched Aspire, a precast concrete, in 2019. It has been specifically developed to maximise floorplans in commercial and high rise buildings and increase productivity. It is used in high rise and slender structures, columns, outrigger and shear walls, piles, and vertical elements with large quantities of concrete reinforcement. Additionally, it can reduce dimensions of columns and walls, maximise floor space and reduces the risk associated with the heat of hydration of thick walls. The development of such products is expected to aid the market growth.
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The major players in the global market for precast concrete are Boral Ltd., Gulf Precast Concrete Co. LLC, Olson Precast Company, Teemage Builders Pvt Ltd., and Forterra Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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