Summary
The building and construction materials industry will play a critical role in rebuilding the construction industry in a post-pandemic world. Since the onset of the COVID-19 virus, sales of DIY supplies, such as flooring and plumbing products, rose sharply as home improvement projects gained popularity.
Prior to 2020, the industry was already facing a significant lack of labor availability, a challenge that has become increasingly difficult due to social distancing measures and restrictions limiting workers from moving across borders. This issue also extends to industry supply chains, as COVID-19 halted the movement of many critical raw materials and finished products. Moving forward, the industry will need to incorporate digital tools to enhance and streamline resource planning, such as project management software and data-driven planning.
Technology will also continue to play a growing role in the industry as a whole, as 4D and 5D simulations are being used to plan construction projects more efficiently, while business intelligence software is helping companies optimize inventories and processes.
