Construction firms have reported shortages throughout the epidemic, and house purchasing has decreased globally. Consumers are less devoted to brands and more concerned with obtaining construction supplies.
Furthermore, owing to social distancing rules, certain materials such as plexiglass and window clings have seen significant rises in demand. With the pandemic raging worldwide, the industry in construction materials is facing various challenges and transformations. Here are some of them.
Sustainability is a focal point
The Green Revolution is making waves in the realm of construction materials, just as it has in the HVAC industry, and it is set for significant gains in the coming years. People are starting to seek methods to minimize their carbon footprint as knowledge and acceptance of humanity’s influence on climate change grows.
This means that there will be a greater need for ecologically friendly and energy-efficient green technologies and materials.
As a result, manufacturers are searching for new methods to satisfy demand, such as creating goods that decrease customers’ greenhouse emissions (can you say self-healing cement?) while also saving money.
This is applicable in commercial and residential real estate because more and more house and building owners want to reduce their energy costs and the health hazards presented to their families and residents.
Consequently, there is a growing need for environmental certifications such as LEED (Leadership in Energy and Environmental Design). Going green seems to be a trend that will not fade as people continue to seek better, more meaningful ways to live their daily lives.
Heightened sensitivity toward safety
The growing significance of creating safer buildings is linked to sustainability. With more health-conscious people occupying their buildings, building developers are becoming more interested in the materials for the construction process, resulting in a push for healthier structures.
Furthermore, new building safety regulations imply that fewer corners are being cut, both in terms of the systems themselves and how they are constructed.
So today, consumers are focused on acquiring materials and equipment from companies that put special safety features in designs. For example, many heavy equipment distributors are investing in improved gears and tools for their businesses.
Natural disasters alone cost over $300 billion in losses in 2017. As weather events such as hurricanes, floods, and wildfires become more intense, buildings are being built with more resilience in mind to survive these catastrophes better.
And, of course, there is the COVID-19 pandemic, which has defined much of 2020 and beyond: industry members throughout the nation are taking precautions to ensure that their work locations are safe despite the continuing dangerous circumstances.
Similarly, enhanced safety protocols and improved safety equipment, such as work boots that can transmit warnings when users are tired, fallen, or in hazardous situations, contribute to this “safety first” mindset. We’ve come a long way since eating lunch atop a skyscraper!
Production faces higher output
The construction materials sector, like many others, suffered a setback in 2020. Fortunately, S&P predicts a reasonably fast rebound for construction materials, particularly for businesses’ innovative approach and efficiency.
At the same time, contracting companies have struggled to find competent employees to fill job vacancies, with over 250,000 vacant construction positions.
As a consequence, contractors are turning to manufacturers to make construction materials simpler to install while simultaneously searching for more innovative methods to optimize their company and optimize their profit margins.
The anticipated increase in prefab and modular construction projects, which will allow businesses to build both business and residential structures significantly quicker due to the repeated nature of the projects, is one direct consequence of this program.
Furthermore, these units are often built offsite in a factory-like environment, saving time by avoiding lousy weather interruptions and money by reusing material not utilized on a specific project.
For better or worse, it is an economic reality of the modern world that to be a leader in your industry; you will most likely also need to become an online leader, taking control of your customers’ purchasing experience through user-friendly websites, strong SEO, and possibly a social media presence.
Adapting to an evolving B2B marketplace-one that progressively resembles B2C activity-is the best and perhaps the only way to guarantee that you are leading your sector into the future.
From one year to the next, each industry has its own set of problems and trends. Anticipating the appearance of these tectonic changes may help you be better prepared to capitalize on the possibilities that arise as a consequence of them.
For example, if the demand for “green” goods increases, why not devise a novel method to advertise and sell these things? If your contractor network is searching for ways to ease the installation of certain goods, maybe there is a way to offer educational material that allows these contractors to learn quicker installation methods.