According to the Construction Products Association, (CPA) a major uptick in the number of large scale projects will lead to a rise in the UK construction industry of almost four per cent.
The body confirmed that construction work is tipped to rise 3.6 per cent over the course of this year and 4.1 per cent in 2017. This increase will lead to an additional £10.4 billion of revenue for the industry and will see
UK construction return to pre-recession levels for the first time in 2016.
The surge will mainly be seen in energy, road and rail projects, according to Noble Francis, economics director of the CPA, who said: “[The industry] is positive about the next 12-18 months because the fundamentals in the sector are still good. It’s been a tough decade for the industry due to the prolonged impacts of the financial crisis so the growth is a welcome relief.”
Among the largest projects will be the £563 million upgrade work to Bank station in central London and work on the HS2 high-speed railway line. Private house building will also continue to rise sharply over the coming few years, due in part to the Government subsidy schemes such as Help to Buy. This sector is tipped to expand a further 22.7 per cent in the next two years.
Materials such as Norbord’s wood panel products are ideal for meeting the ever rising demands of construction firms working on large scale projects such as the ones mentioned in this article, thanks to their durability, quality and low cost.
The materials are used extensively for the construction of both residential and commercial buildings across the UK’s construction sector and are available quickly.
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