Precast Concrete Market: Snapshot
Precast concrete is a construction product, made by casting concrete in a reusable mold or “form”, which is then cured in a controlled environment and transported to the construction site for installation. There are different types of precast concrete forming systems for architectural applications, which differ in size, function, and price. Usage of precast elements eliminates or highly reduces the need for conventional formworks and props.
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They also lower the generation of wastage and checks other environmental hazards. They further provide a safe working platform to the workers. Precast products are manufactured in a casting area where critical factors such as temperature, mix design, and stripping time can be closely checked and controlled, which ensures that the quality of precast products is better than that of cast-in-situ concrete. Moreover, it saves a considerable sum of money through eliminating rectification work. Furthermore, due to factory-controlled environment, different combinations of colors and textures can be applied easily to the architectural or structural pieces.
A vast range of sizes and shapes of precast components can be produced, providing flexibility and fresh look to the structures. These are the advantages of using precast concrete. Precast concrete is primarily used in the construction of buildings with repetitive designs and elements, such as schools and apartments. It provides architects with an exciting medium while designing facades for a wide range of buildings, such as healthcare facilities, shopping malls, commercial buildings, and stadiums.
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Building & Construction Industry to Impact on Precast Concrete Market
Rise in investment in the building & construction industry owing to various government-supported welfare housing schemes has boosted the demand for precast concrete during recent times. In addition, factors such as increasing disposable income, coupled with rising purchase of house, have propelled the demand for precast concrete. Furthermore, rebuilding, refurbishing, and renovation of old buildings have boosted investments in the building & construction industry, thereby augmenting the demand for precast concrete. Low interest rates in housing has also led to investments in the building & construction industry, thus propelling the demand for precast concrete.