HOW WILL THE CONSTRUCTION INDUSTRY BOOM?

There is a lot of uncertainty at the moment in every industry and also in our day to day lives, so many people have already been impacted by covid-19, but it won’t last forever and things are set to change when we return to ‘normal’. The construction industry is one that may benefit in the long-run, and with some patience, this industry could boom when things return to normal. While most of the industry isn’t considered an essential line of work at the moment, it’s an industry where there will always be a high level of demand, so we’ll expect to see a huge rise in construction projects and sales when things return to normal. How is the Industry Currently being Affected? Many, if not all construction jobs require being out in the open and interacting with other builders and members on the job; with social distancing in place, this has put a huge strain on the industry. This has caused the construction’s economy to become majorly disrupted, with many jobs already pre-paid in full, but no work being done at the moment. It’s also temporarily put jobs and the industry’s economy on the line and it’s uncertain when this will return to the way it was before. Many supply chains for materials are going to continue to be put on hold, making it harder to access and purchase supplies for the small selection of jobs that are still able to go ahead. However, it’s key to remember that things will return to normal and when the time comes, this is where things will really fly high for companies in the construction industry. On a positive note, across the globe there’s been many urgent requests for hospitals and health centres to be built in a short period of time, to meet the demand of patients being submitted and treated for the virus. As expected, many firms are benefitting greatly from their involvement in these jobs, due to the urgency of them being completed. This is also a great way for companies and volunteers to play their part in helping to manage the pandemic. What are the Long-Term Impacts? This may seem like a major setback at the moment, but eventually, people’s construction needs will come back into play and there will be a huge boom of orders and enquiries for businesses worldwide. Whether you’re a product supplier or a building contractor, all businesses within this sector are going to massively benefit from the enquiries and orders they receive when the social distancing restrictions become more relaxed. Many people are still working remotely and receiving their full wage packet. For others who are furloughed, finances are still stable, giving more time, thought and money into potential work that could be done on their properties. The sales for DIY products have already increased and this shows that now people are spending time in their home, they are finding things they want to change or even maybe expand. To enquire about our extruded products for your next construction project or to find out how we’re dealing and working through the current situation, contact us at enquiries@rayda.co.uk today.

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