Source: National Precast Concrete Association, Carmel, Ind.
Based on data from its recently released Precast Industry Benchmarking Report and leading forecasters, NPCA projects U.S. producers’ shipments increasing this year to $16.8 billion from $15.9 billion in 2013, the 6 percent gain modest against higher overall construction growth in 2014.
The precast industry can lag broader activity due to product concentration in public works, which takes longer to recover after a recession, according to NPCA President Ty Gable. “Many public works projects are bid and funded years in advance. The result is that the precast industry stayed fairly strong for about a year after much of the rest of construction [business] went into recession,” he adds. “Now it’s taking us longer to come out of it while we’re waiting for public works projects to come off the shelf.”
The NPCA Precast Forecast 2014 details shipment levels in five major industry sectors or product categories: Building and Landscaping, $3.02 billion; Sanitary and Stormwater, $4.68 billion; Transportation, $2.65 billion; Utility and Industrial, $3.99 billion; Water and Onsite Wastewater, $1.12 billion; and, Other Precast Concrete, $850 million. The latter spans a variety of products and structures. In addition to $16.8 billion in product shipments, NPCA sees member producers logging another $2.24 billion in resale items.