Chile Precast Construction Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type, Construction Type and End-user Industry : Global Opportunity Analysis and Industry Forecast, 2020-2027

Chile Precast Construction Market Overview - 2027

The Chile precast construction market size is expected to reach $492.1 million in 2027, from $323.0 million in 2019, growing at a CAGR of 6.9% from 2020 to 2027. Precast construction involves casting and manufacturing of different building components such as girders, walls, columns & beams, paving slabs, and others in factories, away from the actual project site. Precast construction is also known as off-site construction or prefabricated construction. Further, the manufactured building parts are transported to the required project site and attached together to form a monolithic structure. The two basic construction methods conducted in precast construction are modular construction and manufactured homes. However, modular construction is more prevalent than manufactured homes as it is economical and requires low handling cost when compared to manufactured homes.

The increase in focus on sustainable buildings and energy conservation in Chile is a major driving factor for the Chile precast construction industry. According to the International Energy Agency, in 2015 the Ministry of Energy of Chile published the National Energy Policy 2050, a wide set of energy goals for the year 2035 and 2050 in response to the rapid change in Chilean and global environment. Precast construction is an effective alternative for the production of green and energy efficient buildings as compared to traditional methods. According to the U.S. Department of Housing & Urban Development (HUD), precast structures can help in saving up to 25% of heating and cooling costs in a building by the use of precast concrete and insulation. In addition, the construction energy use can also be minimized during the fabrication phase of precast construction as control of energy use and emissions is easier in factory environments. Hence, the advantages of precast construction in regard of sustainability boosts its market growth in Chile. Moreover, Chile is highly prone to earthquakes owing to its location on the tectonic plate boundary and the subduction zone, where the ocean crust slides under the continent land causing compressional deformation, known as the Peru-Chile trench. The most intensive earthquake recorded in Chile had 9.5 magnitude on 26th May 1960, and was the strongest earthquake ever recorded by modern instruments. Precast construction is an effective solution against the seismic vibrations. It involves the use of high-quality building materials as well as the offsite manufacturing of precast elements ensures adherence of building and design by-laws. Further, companies such as Sistema TENSOCRET based in Chile is focused on promotion of precast construction with high focus on earthquake resistance. Such factors promote the use of precast construction for seismic resistance applications, which drives the growth of the Chile precast construction market.

However, the unstable socio-economic conditions in Chile hinders the growth of construction and precast construction industry in the country. According to the World Bank, Chile has been one of the fastest growing economies in the Latin American region, owing to its solid macroeconomic framework. However, the social unrest has resulted in decline in the GDP from 3.9% in 2018 to 1.1% in 2019. The high living costs, and social inequality led to social protests in the end of 2019. Such complicated and unstable socio-economic conditions have curbed the pace of the country’s growth which in turn restrains the growth of Chile precast construction market. In addition, the COVID-19 pandemic has shut-down the on-going construction projects, mainly owing to the prolonged lockdown in Chile. This has hampered the growth of the Chile precast construction market significantly in 2020. 

On the contrary, precast construction has various advantages such as reduction in duration of the project, maintenance of quality, and reduced wastage of resources. Constant developments in precast technologies can assist in overcoming these negative aspects. Use of building information modeling (BIM) software, assists in proper designing of precast members. Such developments in precast technologies are anticipated to create opportunities for the growth of Chile precast construction market during the forecast period.

The Chile precast construction market is segmented on the basis of product, construction type, and end-user industry. By product type, the Chile precast construction market is fragmented into columns & beams, floors & roofs, walls, staircases, girders, paving slabs, and others. By construction type, the market is classified into modular and manufactured homes. According to end-user industry, the Chile precast construction market is categorized into residential and non-residential. 

Competition Analysis

The key market players profiled in the report include Ecomundo, Hormipret, Pacadar SAU, Prefabrik Yapı A.Ş, Prefast SpA, Ramaq Chile, Tecno Fast, Tensacon, Tensocret, and Vollert Anlagenbau GmbH.   

Many competitors in the Chile precast construction market adopted business expansion as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in October 2019, the Chile based company E2E, which is a joint venture between Celulosa Arauco y Constitución based in Chile and Belgian company Etex, inaugurated its first manufacturing unit for wooden buildings and prefabricated housing. The company started business in Chile in February 2019 and has developed two 4-storey buildings and four hundred 2-storey houses in Chile and Casablanca respectively.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging Chile precast construction market trends and dynamics.  
• In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027. 
• Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive Chile precast construction market opportunity analysis of all the countries is also provided in the report.
• The Chile precast construction market forecast analysis from 2020 to 2027 is included in the report.
• The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry. 

Chile Precast Construction Market Segments

By Product Type

• Columns & Beams
• Floors & roofs
• Walls
• Staircases
• Girders
• Paving slabs
• Others

By Construction Type

• Modular construction
• Manufactured homes

By End-user Industry

• Residential
• Non-residential

  Chile Precast Construction Market Report Highlights