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The global precast concrete market size is expected to experience exponential growth by reaching USD 159.85 billion by 2028. This information is published by Fortune Business Insights in its report, titled “Precast Concrete Market Size, Share & COVID-19 Impact Analysis, By Product Type (Building Components, Transportation, Water & Waste Handling, and Others), By End-Use (Residential, and Non- Residential), and Regional Forecast, 2021-2028.” The report further observes that the market stood at USD 114.78 billion in 2020 and is projected to exhibit a CAGR of 4.4% between 2021 and 2028.
LafargeHolcim to Buy Firestone Building Products for a Record USD 3.4 Billion Sum
In January 2021, LafargeHolcim announced that it has agreed to acquire Firestone Building Products from Bridgestone Americas for a staggering USD 3.4 billion. This acquisition is likely to strengthen its position in the commercial roofing and building segment. With its innovative solutions and sustainable building materials, the company plans to widen its presence across Latin America and Europe to be the global leader in advanced flat roofing systems. Besides, the company aims to leverage the opportunities provided by the urbanization trends that are driving the demand for advanced flat roofs and precast concrete solutions worldwide.
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Increasing Demand from Healthcare Sector to Promote Growth
The rapid spread of the COVID-19 pandemic has led to immense pressure on healthcare facilities. The increasing demand for advanced treatment solutions and the easy access to the facilities propels the demand for advanced infrastructure. This is expected to bode well for the development of operational healthcare facilities that provide several benefits to the staff, patients, and the administration. These structures aid in providing the required services to the patients and improve the efficiency of treatment across healthcare institutions. Besides, the hospitals require a large number of resources and energy to ensure proper functioning. Therefore, the precast facilities are a perfect option to ensure the development of safe, flexible, and cost-effective structures. This is further expected to bode well for the global precast concrete market growth in the forthcoming years.
Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions
The market is fragmented by the presence of major companies focusing on expanding their facility to cater to the growing demand for precast concrete across several industrial applications in the forthcoming years. Additionally, other key players are striving to maintain their presence by adopting strategies such as merger and acquisition, the introduction of new products, and collaboration that will favor market growth in the forthcoming years.
List of the Companies Operating in the Global Market:
Further Report Findings:
Table of Segmentation
Value (USD Billion)
By Product Type, End-Use, Geography
By Product Type