With the new decade starting, I thought now would be a good time to look back at the last few years to see what markets Wells Concrete has been excelling in and where we are headed in the future.
The images are snapshots of the total number of projects and quantity of products produced for the last 3 years. Parking structures, education, and municipal / civil buildings have consistently been our strongest markets over this time frame. These markets are generally great for us because total precast parking structures have a large quantity of multiple precast products, school gymnasiums are typically built using tall insulated precast wall panels with an architectural finish, and municipal / civil buildings typically involve multiple higher end finishes such as cast in thin brick, stone, formliners, and multiple precast finishes in one panel. Wells Concrete is positioned to excel in providing these options.
Digging a little deeper into the submarkets you can see that K-12 schools carried us through 2016 and 2017, but 2018 was a more diversified year as we were able to bring in more parking structures in the healthcare and multifamily submarkets along with a few large manufacturing projects to cover the drop off in K-12 schools.
There will always be fluctuations in each individual market so the fact that we are able to adjust with the market swings is why we are confident there are good things to come from Wells Concrete moving forward.