Turkey Precast Concrete Market Outlook

turkey's precast concrete market is forecasted to witness a stable growth during 2018 to 2032. the demand for precast or pre-stressed concrete structures is increasing due to the growing number of infrastructure and industrial projects in the region. the demand for precast concrete components is mainly driven by the increasing demand for cost-effective, durable and environment-friendly solutions. the demand for precast concrete structures in turkey is fueled by the country's efforts to develop its infrastructure. the ongoing initiatives such as the 2015 metrobus project, a high-speed rail network connecting five cities and the istanbul-ankara high-speed railway project are expected to further boost the demand for precast concrete components such as columns, beams, walls, and vaults in the country over the forecast period. turkey's national real estate developers' association (gdt) estimates that the project investments in the real estate sector will exceed usd 10 billion in 2018, significantly driving the demand for precast concrete structures. moreover, the government initiatives such as the implementation of the prime ministry guarantees and credit guarantee fund (kgf) and the turkish development bank credit guarantee fund (kdf) are expected to benefit the residential construction sector and will result in a significant increase in the demand for precast concrete components. in addition, turkey is also focusing on improving its waste management system and this, in turn, is estimated to further drive the use of precast concrete as it is recognized as one of the most sustainable materials. precast concrete is a cost-effective solution and it also requires less manpower and material compared to other traditional building and construction materials. moreover, the improvement of construction execution technologies is expected to increase its uptake in the upcoming years. all these factors are estimated to drive the demand for precast concrete components in turkey over the upcoming years. the government initiatives and focus on developing an effective infrastructure are expected to benefit the precast concrete market in the region.