Concrete products have the potential to transform the way we use cement.
Although this may sound funny or even out rightly outrageous, cement in itself can not be called a building product per se, unlike steel, glass or aluminium. It can, at best, be called a building material intermediate, because when cement is used, along with other ingredients, to produce concrete, then and only then, a finished building material is created, that can compete on equal terms with peers like steel or wood. To strengthen this argument with an example, when it comes to compare the Carbon Dioxide intensity of competing construction materials, cement is not pitted against steel or wood or glass, but CO2 emitted per unit weight of concrete is compared with other alternatives. So, buildings require concrete, while concrete requires cement. That's the linkage.
Whenever we think of concrete, we think of casting in position, which is technically called cast in-situ. All the concreting that we conventionally and regularly encounter around us, in most cases, are concrete poured and cast and cured in position. To the lay person like us, concrete means beams, columns, roof slabs, foundations, lintels, and alike. This situation is now a thing of the past. There are a lot a of concrete items which are cast previously and sold as castings for later use in position. In broad terms, these are called concrete Products, also loosely termed as 'Pre-Cast Concrete'.
The global precast concrete market was valued at approximately $100 billion in 2016 and is projected to expand at a CAGR of more than 5 per cent from 2016 to 2025, according to a new report titled, 'Precast Concrete Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2025'', published by Transparency Market Research. The report concludes that the application of precast concrete in construction reduces the lead time and provides better properties such as durability and sustainability to the construction as compared to the use of conventional in-position casting processes. The report says that such advantages will drive up the precast concrete market during the forecast period, viz. 2016 to 2025.
Asia Pacific and Europe are reportedly the leading markets for precast concrete. Interestingly, the precast concrete market in Asia Pacific is expected to grow at a CAGR of greater than 6% during the same period owing to rise in investments in residential and infrastructural projects in the region. Such projections regarding the prospects of Concrete Products for the Indian market are not readily available, but perhaps one could safely extrapolate from these reported global trends, that directionally, pre-cast concrete will do well in India as well.
In order to better understand and analyse any product-market configuration, there is a need to segment the market/products in an effective manner. The segmentation of Concrete Products can be done in various different ways, some of which are as follows :
By structure system