UK Precast Concrete Market - Forecast(2024 - 2030)

UK Precast Concrete Market Overview

UK Precast Concrete Market size is expected to be valued at US$6.3 billion by the end of the year 2030 and is set to grow at a CAGR of 6.8% during the forecast period from 2024-2030. 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.

The precast concrete industry in the UK was increasingly focusing on sustainability initiatives. This included efforts to reduce carbon emissions, minimize waste generation, and utilize more environmentally friendly materials in the production process. Sustainable construction practices were gaining traction, driven by both regulatory requirements and consumer demand for eco-friendly building solutions. The adoption of advanced manufacturing technologies and automation was reshaping the precast concrete market in the UK. Innovations such as Building Information Modeling (BIM), digital twin technology, and robotics were enhancing production efficiency, improving quality control, and reducing project lead times. These technological advancements were enabling precast concrete manufacturers to offer more customized solutions and meet the evolving demands of the construction industry.

Market Snapshot 

Report Coverage

The report: “UK Precast Concrete Market – Forecast (2024-2030)”, 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.

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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 2023. 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.

UK Precast Concrete Market Segment Analysis – By Application

The structural building components segment is poised to achieve the fastest Compound Annual Growth Rate (CAGR) of 6.2% from 2024 to 2030, primarily fueled by robust demand from the construction industry. This surge in demand is attributed to the burgeoning construction of hotels, malls, hospitals, and other commercial infrastructure, driven by global industrialization trends. Additionally, the escalating need for structural building components in the affordable housing sector is expected to significantly contribute to segment growth. As the middle-income population expands rapidly, there's a corresponding uptick in demand for affordable housing, further boosting the market for structural building components. Precast concrete walls, known for their design flexibility and profitability enhancements, are experiencing increased demand in the market for precast architectural building components. With urban expansion underway, there's a projected rise in the construction of office buildings, hospitals, schools, shopping centers, apartments, and parking garages, driving the demand for precast concrete. Moreover, the utilization of precast concrete is anticipated to surge in rail applications due to growing awareness of its benefits, including high durability, low maintenance costs, and enhanced track elasticity. Factors such as improved ride quality, minimized lifecycle expenses, enhanced geometric retention of rail tracks, greater weight capacity suitable for heavy freight lines and high-speed trains, and environmental sustainability, are expected to further bolster the demand for precast concrete in the industry.

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

In 2023, the infrastructure segment emerged as the market leader, commanding the highest revenue share of 32.8%. This dominance underscores the substantial investments directed towards infrastructure and real estate development, which present attractive growth prospects for precast concrete. Notably, emerging economies are witnessing a surge in infrastructure and residential requirements, prompting substantial investments from both private and government sources in these sectors. Precast concrete structures are manufactured offsite, mitigating the need for onsite storage space. Furthermore, their installation demands minimal labor and utilizes small cranes, enhancing efficiency and reducing operational complexities.
UK Precast Concrete Market Drivers

Rapid urbanization and population growth

The escalating demand for non-residential facilities such as airports, sports complexes, malls, and commercial spaces is poised to have a significant impact on the supply chain due to the faster and more cost-effective construction processes involved. The demand for precast concrete is expected to further increase due to the expanding population's growing need for residential space, coupled with government initiatives aimed at providing housing for the Economically Weaker Section (EWS). Additionally, the use of precast concrete in offices and other commercial spaces has seen a rise due to increased urbanization efforts driven by the pursuit of better career opportunities.

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.
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:

1. Milbank Concrete Products Limited
2. JP Concrete Products Ltd.
3. Moore Concrete Products Ltd.
4. EKC Systems Ltd.
5. Albion Architectural Concrete (The Stone Cellar Company)
6. Althon Limited
7. Amber Valley Stone Ltd.
8. Belfast Minimix and Precast Concrete
9. Burran McAuley Construction Ltd.
10. Carlow Concrete Tanks
11. CB Precast Flooring Limited among others.

Acquisitions/Technology Launches

• In October 2023, Fabcon Precast completed the acquisition of Bristol Precast, a division of the Bristol Group known for providing engineered precast and prestressed concrete products across multiple states in the United States. This strategic acquisition is intended to facilitate Fabcon Precast's expansion into the mid-South U.S. market.

• In February 2023, Holcim finalized the acquisition of HM Factory, a precast concrete solutions provider based in Poland. HM Factory specializes in exporting to Scandinavian markets while also serving the construction needs within Poland. This strategic acquisition aligns with Holcim's objective to broaden the scope of its Solutions & Products segment, aiming to achieve 30% of the company's total net sales by 2025.

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