A new report projects that construction materials such as gravel and concrete will see growth in 2022, with federal funding for highways and streets projected to increase by up to 55%.
Other positive predictions in “Seizing the Opportunities Ahead: The 2022 Construction Materials Outlook,” released by FMI Advisors, include a significant increase in baseline road funding, a continued boost in the housing market, incentivized sustainable construction and a tightened labor market as spending expands. Inflation, pandemic inefficiencies and the mergers-and-acquisitions landscape are all potential concerns.
Due mainly to a large influx of funding, FMI believes 2022 will see “strong, sustained demand for construction materials as projects to repair, maintain and modernize infrastructure kick off in 2022 and continue beyond 2026, addressing a massive backlog of repair needs.”
Read the full report at fmicorp.com.
