South
Africa precast concrete market is anticipated to grow over the projection
period due to the rising need for affordable and secure materials. The demand
for precast concrete products in the South Africa market is also anticipated to
increase due to the increased usage of green and modular building materials.
Precast concrete is a type of building material
that is created by pouring concrete into a moldable or reusable structure and
curing it there in a controlled environment. Such components are precast and
prefabricated throughout the production process, and they are assembled and molded
on the job site. These facilities speed up construction, increase output, and
considerably aid in cost and quality monitoring.
South Africa Precast Concrete Market: Drivers &
Trends
Need for Economical, Safe, and Eco-Friendly
Products:
Precast technology is frequently associated with
effectiveness, protection, and endurance, all of which are competent advantages
over conventional building techniques. But one of the essential advantages of
precast is its ability to reduce construction costs and provide significant
savings before, during, and after the project. Moreover, Contrary to other
materials used in traditional construction components, precast components are
often built of locally accessible natural raw materials like cement, stones,
sand and gravel, and they may be reused or totally recycled. This lessens the
negative effects that raw materials have on the environment over the duration
of their life cycles. In addition to this, the promotion of safe and
digitalized construction has also received attention, which might reduce the
number of deaths at the site. For instance, a number of recorded occurrences
point to fatalities from clamp-lifting hollow-core slabs. In order to ensure
safety and protection at building sites, precast components are used in
construction projects.
For office buildings, precast concrete is a common
building material. While the on-site foundations are being constructed, the
building's walls may be constructed, saving time and insuring early occupancy.
Precast has gained popularity as a building material for parking facilities
because of how quickly and easily they can be built. Construction may be done
safely and affordably with precast concrete in any kind of weather.
Additionally, it offers the wide-open areas and lengthy clear spans that
parking buildings require. Precast concrete also provides better quality
control than on-site concrete building and saves time and money. Precast
concrete construction offers several advantages overcast-in-situ concrete
buildings, as well as steel, timber, and masonry structures, including being
more eco-friendly, earthquake-resistant, and energy-efficient. It allows for a
faster and more reliable construction process. Therefore, the market for
precast concrete in South Africa is anticipated to expand as consumers turn
more towards solutions that are affordable, secure, and environmentally
friendly.
Surge in Renovation and Remodeling Activities:
With the goal of enhancing the structural features
of the structure, extending its lifespan, and minimizing its environmental
effect, renovation comprises restoring infrastructural facilities using new and
sophisticated construction materials. The alignment of infrastructure
facilities with current and future demands is facilitated by renovation and remodeling
efforts. The need for better residential and commercial amenities has increased
due to the rising industrialization and urbanization. Further, government
organizations in South Africa are aggressively investing and concentrating on
building commercial and industrial infrastructures by introducing numerous
initiatives and assigning projects, thereby accelerating the precast concrete
business growth.
Growing renovation and development activities,
driven by increasingly growing investments in the modernization of existing
infrastructure, will further complement the precast concrete industry.
Furthermore, rising remodeling and construction operations in non-residential
spaces would also drive the demand for precast concrete during the forecast
period. In addition, hotel and resort renovations are also on the rise.
Further, the growing investments in the industrial construction by industry
players are also expected to drive precast concrete adoption and generate
business opportunities. The rising renovation and remodeling activities
integrated with government support are further fueling the precast concrete
market growth.
Increasing Advantages of Precast Concrete:
The use of precast concrete in infrastructure has
several advantages over on-site cast concrete. The foremost advantage of
precast over traditional method is its superior quality. This improved quality
is due to technical control and ideal factory conditions. Speed of construction
is one of the biggest advantages of precast concrete over conventional one. The
use of precast concrete can save almost one-third of the total construction
time. Its use saves time in various ways beginning from the design stage to the
installation process. It takes less time to design a precast concrete structure
in comparison to masonry structure as precast panels can easily be replicated
in the structure system.
The installation of an average residential system
can be done in less than a day’s work. The installation of wall panels and
other parts takes very less time as using precast concrete enhances the speed
of construction. This helps in reducing the time and effort taken. In addition,
the high durability of precast concrete structures is projected to further
propel its demand. As a result, the demand for precast concrete products is
rising at a significant pace and the trend is expected to continue over the
forecast period.
Crucial Investment in Innovation and Product
Development:
The South Africa precast concrete industry is
constantly innovating, driven by changes in global markets, rise in consumer
demands, and labor cost pressures. Producers are continually seeking ways to
increase efficiency, boost quality, and increase their bottom line. Furthermore,
increased environmental awareness and emphasis on project life cycles have
increased the demand for sustainable construction practices especially those
designed to reduce waste, greenhouse gas emissions, and energy consumption which
will further propel the South Africa precast concrete market.
Further, 3D printed precast concrete forms are also
providing new creative solutions and a completely new way of thinking about
design to the architectural precast industry. Molds that are 3D-printed have
many benefits over traditional molds, such as they take less time to construct,
produces highly replicable and long-lasting components, less material waste,
and the molds can be used up to 200 times, which is an order of magnitude more
than conventional molds, which can normally only be used for 15 to 20 concrete
pours. This advantage reduces the marginal cost per piece for large, repetitive
projects by spreading the mold's total cost over a larger number of concrete sheets.
In addition, the use of 3D-printed molds would increase the appeal of precast
construction to architects and designers by enabling them to develop innovative
and more complex building designs. The increasing innovations by the
manufacturers in the development of cost-effective, eco-friendly, and
performance-efficient precast concrete will create significant opportunities
for the growth of the market.
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Helpful Government Initiatives:
Precast concrete is widely used in housing,
factories, and leading national laboratories around the country to support
government programs. In addition, precast construction is a cost-effective,
fast, and environment-friendly building method for large housing projects that
do not compromise quality. Housing crisis is one of the country's major issues
today. Rates of poverty in South Africa are high; the estimated percentage of
the population living under the poverty threshold of USD 3.20 a day is 37.12%
in 2022. According to the U.N. Sustainable Development Report, in South Africa,
significant challenges remain in moving toward zero poverty and the country is
regressing in its quest to reduce poverty. One of the major and most visible
manifestations of extreme poverty is homelessness. No official census exists on
rates of homelessness in South Africa; however, estimates indicate that up to
200,000 people in the country live without the basic human right to shelter.
Furthermore, the apartheid era plays a significant role in the issues of
homelessness and landlessness that have been affecting South Africans.
Owing to this, the South Africa government has
taken certain initiatives by investing in affordable housing and accessible
shelters, particularly in Johannesburg and Cape Town. Considering the facts,
consistent government efforts could prove vital in alleviating poverty and
homelessness in South Africa and enable affected citizens to access better
living standards involved in facilitating the use of precast in their
construction projects.
Similarly, several concrete additives, lifting
accessories, and spare parts are not manufactured in South Africa. If all of
these products are produced in South Africa, the investment cost will be
significantly reduced, which will further propel the demand for precast
concrete in the market. Furthermore, the construction sector is a core
component of Vision 2030 program- National Development Program. The country is
investing in a variety of ventures as a result of ongoing investment and
technological advances. The aim of such large-scale projects is to provide
lower-income groups with housing options, generate new job opportunities, and
diversify the economy.
South Africa Precast Concrete Market: Restraints
Volatility in Raw Material Cost:
Volatile raw material costs have an influence on
the market for precast concrete. The manufacturers' profit margins are
frequently impacted by sudden price increases or decreases. The main raw
materials needed to create precast concrete products include cement,
aggregates, and sand. The key factor influencing fluctuations in the price of
raw materials is volatility in the cost of energy and crude oil, which are used
in the production and transportation of these items. These changes also have an
impact on the prices of finished goods. The cost of the raw materials used in
precast concrete may increase due to fluctuations in the price of crude oil and
other petroleum products. The cost of the production-related machinery and molds
is also very high. As a result, it is also expected that the substantial
initial investment would in some ways limit market growth. These factors might
all restrict the market's growth.
Market Segments
South Africa precast concrete market is segmented
into application, product type, end-use and region.
Based on application, the market is segmented into structural components,
architectural components, bridge components.
Based on product type, the market is segmented into floors & roofs,
columns & beams, stairs & landing, walls. Based on end-use, the market
is segmented into residential, commercial, infrastructure. Based on region, the
market is segmented into Gauteng, KwaZulu-Natal, Western Cape, Eastern Cape,
Mpumalanga, Limpopo, North West, Free State, Northern Cape.
Market Players
South Africa precast concrete market players
include Lafarge South Africa Holdings (Pty) Ltd., Vanstone
Precast (Pty) Ltd, Concretex South Africa, Sika South Africa, Gallo Precast,
Rocla (Pty) Ltd
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 – 2022
|
|
Estimated Year
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2023
|
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Forecast Period
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2024 – 2028
|
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
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|
Report coverage
|
Revenue forecast, company share,
growth factors, and trends
|
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Segments covered
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Application
Product Type
End-Use
Region
|
|
Regional Scope
|
Gauteng, KwaZulu-Natal, Western
Cape, Eastern Cape, Mpumalanga, Limpopo, North West, Free State, Northern
Cape
|
|
Key companies profiled
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Lafarge South Africa Holdings (Pty) Ltd., Vanstone Precast (Pty) Ltd,
Concretex South Africa, Sika South Africa, Gallo Precast, Rocla (Pty) Ltd
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Customization scope
|
10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research needs. Explore purchase options
|
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Delivery Format
|
PDF and Excel through Email (We
can also provide the editable version of the report in PPT/Word format on special
request)
|
Report Scope:
In this report, South Africa precast concrete
market has been segmented
into following categories, in addition to the industry trends which have also been
detailed below:
- South Africa Precast
Concrete Market, By Application:
- Structural
Components
- Architectural
Components
- Bridge
Components
- South Africa Precast
Concrete Market, By Product Type:
- Floors
& Roofs
- Columns
& Beams
- Stairs
& Landing
- Walls
- South Africa Precast
Concrete Market, By End-Use:
- Residential
- Commercial
- Infrastructure
- South Africa Precast
Concrete Market, By Region:
- Gauteng
- KwaZulu-Natal
- Western Cape
- Eastern Cape
- Mpumalanga
- Limpopo
- North West
- Free State
- Northern Cape
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in
South Africa Precast Concrete Market.
Available Customizations:
South Africa Precast Concrete Market with the given market data, Tech
Sci Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
·
Detailed analysis
and profiling of additional market players (up to five).
South Africa precast concrete market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]