In 2022, the world continues to grapple with the effects of the COVID-19 pandemic. In the construction industry, the pandemic has created some unique and complex challenges that players in the sector are unfortunately already familiar with. These challenges include skyrocketing material prices, supply chain disruptions and labour shortages. At the beginning of the year, experts believed that although in 2022, the above problems should not have disappeared completely, they were still expected to weaken somewhat.

In 2020, with the onset of the crisis associated with restrictive measures in the fight against the epidemic of the new coronavirus, housing sales by developers decreased by 50-60%, and construction sites in a number of countries were mothballed in April-May 2020. As a result, the construction industry and the building materials industry faced a crisis that affected almost all production chain levels for the first time in recent history.

Global construction activity continued to recover from the lockdown and reached a record growth of 3.4%, despite a downturn in China in 2021. The recovery has been driven by infrastructure development under programs implemented in many countries and investments related to the energy transition. It is likely to drive growth in the construction sector for years to come. However, the construction sector faces some constraints due to rising costs and interest rates.

However, the hostilities taking place on the territory of Ukraine have made adjustments to the global economic processes; the construction sector is no exception. Related developments are likely to delay returning to a standard supply chain, especially in Europe.

Nevertheless, the decision of the governments of many countries to recognise the construction industry as one of the sectors most affected by the 2020 crisis and to introduce a whole package of targeted measures to support developers, including supporting demand for housing (both by supporting demand from the population and through the purchase of surplus new housing by state structures) and the continuation of the priority implementation of national projects gives hope for the restoration of this sector.

For more than ten years of successful activity, Gateway Global Metals has shown itself to be a reliable distributor of building materials, fulfilling all obligations on time. We have everything to provide a high-quality product: excellent raw materials, reliable equipment and an experienced team. In addition, low costs for mining, processing and logistics of raw materials allow us to offer final metal products at low prices (while the quality remains at the same level). As a result, we have exceeded our client’s expectations to the most significant possible degree, from design and process to the sale and final customer support.

For more information, please contact us info@ggm.sg

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