Market share hits all time high
Steel’s share of the multi storey non-residential buildings market for frames has reached 70% for the first time, according to the 2005 Market Shares Survey from market research consultants Construction Markets.
The independently produced statistics show steel with an overall market share of 70.4%, up from 69.2% in 2004. The survey also showed that 13.2Mm² of floor space was completed in 2005, the highest figure since 1989.
Construction Markets Director Dominic Collins said: “This survey, commissioned by Corus, is the 25th in the series, during which time steel’s market share has risen from 33% to over 70%.”
The figures cover all buildings of two or more storeys in the office, retail, health, education and leisure sectors. Insitu concrete’s share of the overall market remained virtually static at 16.9%, still around the lowest level achieved in 25 years. Pre cast concrete achieved a 2.2% share, with masonry at 8% and timber 2.1%.
A strong rise was seen in steel’s share of the multi storey offices market – of six storeys and above – which has risen to 74.1% defined by floor area, compared to 71% in 2004. Overall, 71.9% of office buildings were framed in steel.
Corus General Manager Alan Todd said: ”It is encouraging to see steels’ share continue to increase in a very positive market. The survey results confirm that for clients and construction teams in the key multi storey markets steel is valued as a framing material above all the others combined. The recognised benefits of steel like speed and cost predictability as well as increasingly important factors such as sustainability are clearly getting across to an ever wider section of the market.”