Saving Costs on Your Projects

According to the latest procurement intelligence report from Technavio, the global building materials market should be on the rise during the next five years due to strong global economic growth, increase in the commercial activities, and the rise in government spending on infrastructure development.

The global building materials market will be driven by increasing rapid industrialization and urbanization, which is giving a boost to the construction sector in both commercial and residential projects. In addition, increased government spending on infrastructure development and renovation will further fuel market growth.

New innovations such as programmable cement, self-healing concrete, and thermal bridging insulation can help minimize building costs; sometimes up to 7%. Contractors seek building materials that have high material performance, low environmental impact, and can be reused, recycled, or disposed at the end of its life. This will result in a cost-efficient building solution.

One of the most opportunistic strategic cost saving levers in the global building materials market is the need for consolidation and unification of building activities. Organizations are looking to consolidate services such as logistics and installation of the machines required in the manufacture of building materials. Based on the type of material selected, buyers require specialized personnel for complicated installations.

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