Residential construction market on the rise

by Carlo Padilla (Content Writer)

The global construction market slowly recovered from the adverse impact of the COVID-19 pandemic in 2020. An October 2021 report by industry data provider Research and Markets – which covers commercial, infrastructure, residential, warehouses and industrial activities – sees the global building materials market to increase at a CAGR of 5.7 percent and reach $376.72 billion by 2026. This promising progress aside, however, other findings seem to suggest that there may not be enough houses being built for everyone.

Residential construction falling behind

In July 2021, nonprofit organization USAFacts said that home construction has lagged behind population growth over the past 20 years. Building permit data in 2020 from the US Census indicates 912,000 single-family homes were built, while the US population grew by more than 3 million people at the same time.

According to Realtor.com chief economist Danielle Hale, “The pandemic has certainly exacerbated the US housing shortage, but data shows household formations outpaced new construction long before COVID. Put simply, new construction supply hasn’t been meeting demand over the last five years.”

Overbuilding

Disagreeing with findings that the housing industry is possibly overbuilding, Rob Dietz, chief economist of the National Association of Home Builders’ Economics and Housing Policy says, “We need 800,000 to 900,000 single-family homes for household formation growth and another 200,000 to 300,000 per year for replacement housing and second homes.” Household formation is when an individual leaves a shared living situation. Dietz also says, “The challenge now is that we have the supply-side limitations, including lack of building materials and a growing shortage of skilled workers, plus higher home prices relative to incomes.”

Industry-grade

Wuxi Dihua Special Steel Co. Ltd’s DH Stainless Steel Bar-07 is available in lengths of 5 to 6m or as specified. The hot-rolled bar variant is 5.5 to 100mm in diameter, hot-forged 110 to 400mm, cold-drawn 2 to 110mm, centerless-ground 5 to 40mm and peeled round 40 to 300mm. In terms of tolerance, it is ±0.15mm for outer diameter, ±11 percent for wall thickness and 0 to ±4.5mm for length. This bar can have a mirror, satin, No. 1, No. 4 or no finish. It meets ASTM, ASME, GB, DIN, JIS and AISI standards.

Minimum order is one ton and lead time five to 10 days.

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12 to 25mm thickness

From Linyi Heyi Wood Co. Ltd, the Blockboard, Poplar, Fir, South Fir measures 1,220x2,400mm and is 12 to 25mm in thickness. Its other core material options are Paulownia and hardwood. Glue used is E1, E2 or MR. Front and back materials include rotary- and slice-cut veneer, HPL and polyester, with grades of BB/CC, AAA and AA. Thickness, core material and grade may be customized.

This product has a minimum order requirement of 25 cubic meters and lead time of 20 to 30 days.

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Prepainted

Shijiazhuang Sanhe Steel Structure Co. Ltd’s SH631 is a corrugated roof panel with a thickness of 0.12 to 2mm, length of less than 11.8m and width of 800 to 1,250mm. It may have a chromated, oiled or bright finish in red, blue, navy blue or green. Available material grades are SGCC, SGCD, SGCE, SECC, SECD, SECE, DX51D, DX52D, DX53D, Q195, Q235 and Q345.

This panel complies with GB, ASTM, AISI, BS, DIN and JIS standards. The required minimum order is 500 pieces and lead time 15 to 30 days.

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Various sizes

The Bricks-101-5449 from Pelcar Trading comes in sizes of 400x200x200mm, 400x150x200mm, 400x120x200mm, 400x100x200mm, 300x150x100mm, 240x115x90mm, 230x220x115mm, 200x200x60mm, 200x100x60mm and 150x150x100mm. Its raw materials include crushed stone, sand and cement. One metric ton is the minimum order and three to seven days is the lead time.

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Galvanized steel

The BWTD-Nail-038 from Tianjin Wintong Imp and Exp Co. Ltd is a galvanized steel concrete nail. It has abrasion, corrosion and oxidation resistance. Minimum order is 5 metric tons and lead time 20 to 30 days.

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Flame-retardant

Elegant Home-Tech Co. Ltd’s ELE-2612 is a PVC tile available in sizes of 6x36in and 4x36in, thicknesses of 1.5 to 3mm and wear layer thicknesses of 0.07 to 0.7mm. It has beveled edges and various pattern options, and is anti-slip and flame-retardant.

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