Sources: Freedonia Group, Cleveland; CP staff
Demand for precast concrete water, wastewater and waste-handling products—septic tanks, manholes, supply and conveyance components, grease interceptors, hazardous material containers, among them—is projected to rise 5.1 percent per year to $1.2 billion in 2020, a new Freedonia Group report finds.
Precast Concrete Products pegs the residential market as a key growth driver, especially in septic tank shipments. In the nonbuilding segment, increased water and sewer construction spending will spur demand for manholes, water and sewer system components, and other products. Much like U.S. transportation infrastructure, Freedonia researchers note, many of the nation’s potable water and sewage and drainage facilities have reached the end of their expected service life and require repair or replacement. In the nonresidential market, strong growth in office and commercial construction spending and advances in institutional construction expenditures will boost demand for precast concrete grease interceptors and many other products.
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