As we close the door on 2021 and step into a new year, companies everywhere have their sights set on the concrete industry outlook. And if experts’ current calculations turn out to ring true, it seems concrete and construction crews have a busy time ahead of them. That’s right, many studies indicate coming growth for the concrete market. But what exactly is fueling the growth — and what can we expect down the line? We’ve pulled research together from some of the industry’s big names in an attempt to shed some light on the future.
Continued Struggles as the Industry Moves Past COVID-19 Barriers
In the Portland Cement Association’s (PCA) Fall 2021 Cement Outlook, the industry leader touched on the obstacles many companies (not just in concrete) have grappled with as we emerge from the pandemic. Such struggles include high demand, lower-than-usual inventories, worker shortages, logistics obstacles and adverse weather, all of which have impacted availability. And while the PCA noted the cement industry’s tight markets, it touched on the possibility of increasing inventories throughout the winter months and beginning to level things out some. Taking things further with a look at future issues, the PCA noted climate change as a topic to be addressed, not only with “greener” construction with reduced CO2 and energy usage, but in terms of defensive construction projects needed to keep communities, people and infrastructure better protected. That’s just the start of all this extensive report touched on. Read the full version here.
Increased Government Spending Means More Projects to Come
Allied Market Research reports that the concrete market, worth $617,260.1 billion in 2020, is expected to grow to $972,046.3 billion by the year 2030. The company attributes that growth largely to an increased number of government infrastructure projects, paired with improved manufacturing technologies which can help to offset troubles related to the ongoing labor shortage. At the same time, cement companies’ gradual return to full-scale production also aids in the expansion. On the flip side of the coin, Allied notes, global efforts to make the concrete industry more eco-friendly could hinder some of that growth. Read the full report here.
Of course, nobody knows exactly how the concrete industry outlook will pan out. Whatever the future holds, know that your friends at General Chipping will be with you every step of the way. If you’re ready to book your next concrete chipping, silo cleaning or central mixer cleaning appointment, or if you simply have questions about what’s going on in the industry, feel free to contact our team. We’re always happy to help!
