The strong financial case for using steel is often the deciding factor for cost conscious developers. As well as a highly competitive up front initial cost, steel has many other cost advantages that pay-back during the course of construction and throughout the building\u2019s working life \u2013 even when a steel framed building or steel bridge reaches the end of its useful life it generates a cash value through recycling, as virtually all structural steel is certain to be.<\/p>\n
Other cost benefits derive from factors such as the speed of construction made possible by off site fabrication and offsite application of intumescent and other protective coatings. Steel doesn\u2019t have to be stored on or near to sites and it will be delivered only when the construction programme demands it, saving on expensive storage space. On site waste just doesn\u2019t happen with steel \u2013 only what is needed is produced, to the most exacting tolerances, and delivered to site where it is speedily erected by skilled teams.<\/p>\n
The cost of constructional steelwork has fallen significantly in real terms over the past 20 years thanks to massive productivity improvements made by Corus, steelwork contractors, intumescent paint manufacturers and others in the supply chain. Sharing the benefits of these productivity gains with clients has helped keep the real terms price of steel below alternatives.<\/p>\n
Independent studies carried out over the past 20 years and more have consistently shown\u00a0 steel providing the most economic solution in most cases, whether for one of the new breed of highly sustainable sheds or for a multi storey corporate headquarters. Cost Comparison studies consistently show steel to be the more cost effective choice for buildings.<\/p>\n
The market obviously appreciates this as the most recent Market Shares survey, for 2008, shows steel now commands over 70% of the market for multi storey buildings, and a non steel single storey building is hard to find \u2013 over 90% are made with steel.<\/p>\n
Value engineering usually results in steel being chosen in preference to any concrete alternatives that might have been considered.<\/p>\n
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<\/a>Cost savings in steel buildings start at the foundations, where the loads imposed by a steel frame are up to 50% less than those of a concrete alternative. That means foundations can be much smaller and therefore cost considerably less. Foundations are a major component of overall building costs, so lighter foundation loads can have a big impact on costs.<\/p>\n<\/div>\nCost savings in a competitive market<\/h3>\n