The essential thing for any building to last long is the construction material. The basic building materials for the construction are fired bricks, cement composites, concrete, metal, and many more. Without these elements, no building can withstand the harsh weather conditions and physical factors. One of the popular elements in the construction industry by many contractors is steel. It is the most essential and needed material for the building to last longer and withstand external factors. The last two years had an impact on the steel suppliers in Chennai because of cost, supply chain issues, lack of commercial drivers, and delays. Experts at HITT contracting say that the construction is expected to face more challenges in the following years. Hence, steel is a fast-growing commodity with high demand for every steel-based telecommunications data center, industry, and logistics warehouse. Therefore, listed below are factors to consider before starting a construction project.
Steel a hot commodity:
The foremost factor to consider before starting a construction project is to know about the construction material. Steel is a commonly used component in the construction industry worldwide. It is used as structural steel, steel beams, metal deck, drywall anchors, and more. Experts say that the steel demand increased by 38% across the nation in the construction industry. Due to the pandemic, there was a lack of steel supply which caused a high steel demand. These steels are the foundation for the warehouses and other factories. So, it resulted in steel as one of the fast-growing commodities, and prices increased nearly to 120% every year. Experts say that the price will tend to increase because of its demand.
Another factor to consider before starting a construction project is the cost of the other building materials. There are many construction materials like adhesives, fasteners, MS chequered plate, drywall insulation, and many more. The price for drywall insulation has doubled since the start of the year. Similarly, the cost of the adhesives and fasteners used in the roofing increased by 30%. The rate of the water heaters has increased by 42% since last year. Hence, before constructing, make sure to know the appropriate rate of the construction materials.
The third factor to remember before constructing is the construction material consumes more time to reach the job sites. It is because of the pandemic restriction, lessened workforce, high demand, climatic factors, and material transportation. Experts say that the availability of steel shifted from 12-14 weeks to 40-45 weeks. Other building materials like fiberglass insulation, PVC consumes 6-10 weeks delay.
Therefore, every construction material like SAIL TMT bar, structural steel, beams, and many more have taken a different shape in recent years. Hence, many top-rated construction industries use pre construction resources to prevent risk and complete the given projects.