Five key trends for construction in 2023
Looking back at 2022, whilst no Covid-19 restrictions were put in place and we approached the year with post-lockdown optimism, the turbulence and rippling impacts of the pandemic have remained the greatest disruptor in the sector.
Elsewhere, environmental credentials have taken a greater spotlight, and momentum behind sustainability was apparent in legislation that was introduced, including the Plastic Packaging Tax.
At Artex, we were delighted to be back at trade shows in 2022, including UK Construction Week, the National Painting and Decorating Show, and Jewson Live, which gave us a chance to spend more time in person with colleagues and customers to better understand challenges and improve supply chain collaboration.
We now look ahead to 2023, and what to expect, with five key trends we anticipate to impact the industry.
Rising inflation and the cost of living crisis dominated conversations across the latter part of 2022, and this economic uncertainty is set to continue in 2023.
Fluctuations to material prices and energy costs will likely remain a key challenge for the construction industry, with output predicted to fall across most areas. A recent report by the Royal Institution of Chartered Surveyors (RICS) suggests that ‘a widespread slowing in momentum is clearly visible’, with increasing financial constraints and profit margins under pressure.
However, the Autumn Budget offered some signs of positivity with a commitment to spending in construction. Businesses will need to adapt and remain agile to stay ahead, offering customers greater choices and flexibility to stand out.