CHANTILLY, Va., Aug. 2, 2017 /PRNewswire/ -- Sales of concrete pavers and slabs increased to a projected 721.4 million square feet in the U.S. and Canada during 2016, according to a new study released by the Interlocking Concrete Pavement Institute (ICPI). This represents a 4.3% jump from a projected 689.8 million sf. in 2015.
The 2016 estimated total was the highest sales since 2006 (800 million sf) prior to the recession. The 2016 estimate equates to a per capita use of two square feet in the U.S. and Canada. The 2016 total also was 35.5% higher than 2010 when the industry reported the low point for sales at 472 million sf.
The study, 2017 ICPI Industry Sales Profile, surveyed 25 manufacturers representing 24% of the producing companies in the U.S. and Canada. These companies own approximately 54% of the paver producing machines in the two countries.
Sales of all pavers in the U.S. climbed 5.5% during 2016, while Canadian sales declined slightly by 1.3%. In all, 77.7% of sales were to the residential market.
The study noted that continued low interest rates and energy costs, a slight increase in new home construction, modest growth in infrastructure investments by the public sector, and increases in commercial construction all contributed to the growth of the U.S. segmental concrete pavement industry. Canada presented a mix of growth or slight contraction depending on the region, thus impacting paver sales, according to the report.
Companies participating in last year's survey reported a 15.4% increase in the U.S. and 8.9% growth in Canada during 2015.
"Overall, the segmental concrete pavement industry in the U.S. and Canada is strong," said Matt Lynch, ICPI Board Chair. "A favorable economic climate continues supporting paver sales in the U.S. Despite the slight decrease in Canada during 2016, Canadian paver sales are still up more than 7% since 2014. We also are seeing a positive impact on companies that supply materials, equipment and services to the concrete paver industry, including manufacturers of paver producing machines."
The complete survey report is available for purchase at https://www.icpi.org/shop.
ICPI is the trade association representing the growing industry of segmental concrete pavement systems in the United States and Canada. The association's membership includes producers, contractors, suppliers, design professionals, and distributors. For more information, visit http://www.icpi.org.
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SOURCE Interlocking Concrete Pavement Institute