Cost Saving Opportunities for the Global Building Materials Market 2017-2021: Technavio

Technavio has published a new report on the global building materials market from 2017-2021. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

LONDON--()--According to the latest procurement intelligence report from Technavio, the global building materials market is expected to grow at a CAGR of 5.6% over the next five years due to strong global economic growth, increase in the commercial activities, and the rise in government spending on infrastructure development.

The research report titled ‘Global Building Materials Market 2017-2021: Procurement Market Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.

“During the forecast period, the global building materials market will be driven by increasing rapid industrialization and urbanization which is giving a boost to the construction sector in both commercial and residential projects,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, increased government spending on infrastructure development and renovation will further fuel market growth,” adds Angad.

Looking for more information on this market? Request a free sample report

Technavio sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Cost saving opportunities in the building materials market

The adoption of various cost-optimization levers helps buyers of building materials realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).

Technavio procurement experts have segmented the cost saving opportunities in the building materials market into the following value-enhancement opportunities:

  • Adoption of technology
  • Supplier Competition
  • Adoption of negotiation strategies
  • Optimization of procurement practices
  • Bundling of services

Adoption of technology saving aspects

New innovations such as programmable cement, self-healing concrete, thermal bridging insulation can help minimize building costs, sometimes up to 7% of total category spend.

Buyers seek building materials that have high material performance, low environmental impact, and can be reused, recycled, or disposed at the end of its life. This will result in a cost-efficient building solution.

View our subscription bundles to discover more cost saving opportunities: Request for demo

Optimization of supplier competition saving aspects

Technavio analysts suggest procurement of the right mix of services and price discounts based on value-added services and bundled services by suppliers.

Buyers seek good quality materials along with complete services, including transporting the materials to the site. Buyers look for readily available materials that ensure that they do not have to wait long to get materials. Therefore, buyers prefer materials that are locally sourced as this helps to save on shipping costs and avoid building delays.

Bundling of services saving aspects

One of the most opportunistic strategic cost saving levers in the global building materials market is the need for consolidation and unification of building activities. Organizations are looking to consolidate services such as logistics and installation of the machines required in the manufacture of building materials. Based on the type of material selected, buyers require specialized personnel for complicated installations.

Browse other reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest procurement intelligence report from Technavio, the global building materials market is expected to grow at a CAGR of 5.6% over the next five years.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com