There are a lot of people on the planet right now. At last count, the number was approximately 7 billion. That figure is expected to climb over the next 25 years. The Earth is going to get more crowded. Population growth is good for the construction industry. An increase in demand leads to more business and more overall profits. Let’s examine population growth and its effects on concrete demand.
Public Works
More people mean more public works projects, most of which require concrete. One type of those projects is highways. According to the Think Concrete blog, it’s estimated that by the year 2039, population growth will add another 62 million drivers, an increase of 28 percent. In order to in order to prevent insupportable amounts of congestion nearly 2.3 million miles of lane capacity must be added to the highway system. Expanded highways will need median and highway barriers—excellent news for the concrete industry. Del Zotto Products sells some top-notch forms for these barriers here.
Residential
Safe and cost-effective concrete houses will increase in popularity as population increases. The Precast Concrete Association (PCA) estimates that there will be 163 million units of housing stock by 2039, which means 1.7 million annual housing starts. This count also allows for demolition at a rate of 500,000 houses each year. Concrete homes are the wave of the future, and the concrete industry is going to benefit immensely.
Non-Residential
As population expands, the need for non-residential buildings will expand along with it. Office employment is rising every year, and at the rate of increase, it should reach 37 million jobs by 2039. More office space will need to be built—most of which can be done cheaply and efficiently with concrete. Once again, population increase will only bolster the concrete industry.
Although some industries view population growth as a negative thing, the concrete industry’s profits will increase as the number of people on the planet increases. For more information about Del Zotto Products and our high-quality forms, get in touch through our contact form or via social media.