Size of the Construction Materials Market
According to Datam Intelligence, the worldwide building materials market will develop at a compound annual growth rate (CAGR) of 3.9%, reaching USD 1.3 trillion by 2022. Government investment on infrastructure development, such as public buildings, utilities, and transportation networks, is pushing up demand for building materials. Demand for goods with quick lead times and low production costs is also driving demand for new building materials, as industries such as mining, non-residential construction, railroads, tunnels, and highways continue to expand.
The global climate issue is causing an increase in attention on energy efficiency and green buildings, which is influencing worldwide demand for building materials. One of the primary drivers of the global building materials market is the advancement of novel building materials. Chinese building material producers create a diverse range of novel green building materials because to their excellent R&D and production skills. In China’s wholesale building materials market, you may fulfill all of your construction material requirements in one location. By using our one-stop sourcing service, you will not only get high-quality items but also save a lot of money.
Comparison of Construction Material Prices
Construction materials are in great demand for a variety of uses in the commercial and infrastructural sectors. The global demand for building materials is driven by the expansion and refurbishment of commercial facilities, as well as urbanization trends.
According to data from the Associated General Contractors of America, the cost of building projects is rising at a double-digit pace as the costs of major construction supplies skyrocket. Contractors must pay extra to finish the majority of projects.
Price advantage of Foshan Building Materials Market
Faced with the high cost of construction materials, many construction firms and private purchasers seek for new markets for building supplies. China has become the world’s top choice for acquiring building materials, offering a diverse selection of products at reasonable costs. Customized services are also offered to develop items that are specific to the buyer’s requirements.
Foshan building ceramics products have a significant price advantage in the international market. According to China’s Ministry of Commerce, the average selling price of Foshan ceramic building products in the international market is 15-20% lower than that of other major exporting countries. This price advantage makes Foshan building ceramics products popular in the global market, especially in price-sensitive markets such as Africa, Southeast Asia and South America.
Impact on Construction Project Costs
The price competitiveness of Foshan’s building materials market is of great importance to the cost control of global construction projects. Through one-stop sourcing in China, construction companies can significantly reduce the cost of purchasing building materials and thus optimize the overall project budget.
Studies have shown that a medium-sized construction company can reduce its overall building materials costs by around 10-15% by purchasing building materials from Foshan. This reduction is particularly noticeable in large-scale projects, especially public infrastructure construction and real estate development projects, where cost savings can be further utilized in other aspects of the project, such as improving the quality of work or speeding up the construction schedule.
The Best Choice for Building Materials Procurement
As the global construction industry continues to expand, the demand for high-quality, cost-effective building materials will continue to grow. One-stop sourcing agents will play a key role in meeting this demand, providing buyers with the resources and support they need to reduce costs and ensure smoother construction projects. Our one-stop sourcing service has assisted and supported clients in more than 50 countries with their sourcing projects. We look forward to providing quality services for your construction projects!
