This briefing examines how the construction and real estate industry is performing globally and in the largest countries in terms of construction and real estate output. The report also provides data for production, market size, imports, exports, industry costs and profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.
The sharp rise in the prices of construction materials in the short- to medium-term will encourage builders to look for alternative materials and innovative solutions to mitigate cost increases. For instance, using larger prefabricated modules could allow builders to use a wider variety of materials which would otherwise be more difficult to work with on an open-air construction site. Moreover, modular designs could cut construction time in half.
The outbreak of the Coronavirus (COVID-19) pandemic led to severe supply chain disruptions globally, adversely affecting construction. Contractors were forced to look for local suppliers as Chinese products were largely unavailable due to border closures. Similarly, local contractors are expected to gain popularity as a more reliable option.
The construction sector and the production of building materials play a significant role in CO2 emissions. Hence, with rising environmental awareness, companies are expanding their investments in sustainability and greener construction methods. For instance, the energy efficiency of buildings is becoming increasingly important for private consumers. Bearing in mind changing consumer preferences, contractors will invest in energy efficiency. Moreover, seeing rapidly rising prices for construction materials, the industry is searching for alternative renewable and more environmentally-friendly materials, such as timbercrete (mix of sawmill waste and concrete), hempcrete and bamboo.
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