FTI-Group-logo
1300 751 701

Welcome to the
FTI Group blog

Here you’ll find a range of articles that detail topical industry information and product news

An industry under pressure.

The Australian construction industry has been under pressure for the past few years with the many COVID-19 supply chain disruptions, the materials and labour shortages, and the rapidly increasing interest rates. Interest rates went up unexpectedly, and much faster than we’d seen in almost 30 years. The cost of raw materials grew very strongly and at one stage was the highest since 1975.

A positive outlook.

Despite all these restraints the construction industry has remained strong and recent forecasts by Master Builders Australia are predicting that the overall construction industry is still set to expand over the next few years. The outlook for non-residential construction and commercial developments is more optimistic and even though a small decline is expected for 2023, there is expected to be steady growth from 2024 to 2026. Total construction starts are expected to remain flat for 2023 but civil and infrastructure work is expected to emerge as the biggest winner.

The potential for a recession, continued inflation, labour shortages and supply chain issues will continue to loom large in the construction industry this year. Yet opportunities will arise for well-prepared construction companies who can pivot during uncertainty

Expected construction trends for 2023.

  • A further shift to prefabricated and modular construction.
    One of the prominent trends in the Australian construction industry is the shift towards prefabricated and modular construction. This type of construction involves using construction products that are pre-manufactured offsite and can be easily installed onsite, reducing construction labour, time and costs. Prefabricated construction has significantly increased in recent years and is set to continue as it offers a more efficient and cost-effective way to build.

 

  • Continued labour scarcity.
    According to Infrastructure Australia, the construction industry labour shortages is the single biggest issue faced by construction companies currently. The Australian building and construction industry finds itself in a difficult situation, the more money it throws at scarce labour and escalating materials costs, the more difficult it becomes to meet the high demand of housing and commercial properties. It’s a crisis that is further underlined each time we hear of the collapse of more building companies.

 

  • The need to increase productivity and reduce costs.
    There’s an ever-growing demand for new housing and new infrastructure to support the growing population, and with the demand comes a desire to find better ways to build projects to be efficient and cost-effective. Prefabricated and modular construction increased productivity and reduces costs but additionally, the use of technology, automation and lean construction principles will also help.

 

  • The adoption of Building Information Modeling (BIM).
    One of the biggest opportunities for the construction industry will be the implementation of BIM tools. BIM is a 3D digital representation of various construction materials that helps architects, engineers and construction professionals to plan, design and build efficiently. It also allows for better collaboration and communication between all parties involved in a construction project. The implementation of BIM modeling has the potential to improve efficiency and accuracy as well as reduce potential errors and delays.

 

It’s been a perfect storm of economic factors and challenges that have inundated the Australian construction industry, but these look to be blowing over. There are a few further challenges expected this year before the construction industry looks to return to a relative normal in 2024.

There’ll be further challenges for construction companies of all sizes throughout the year. However, construction firms that can shift gears and capitalize on the larger industry trends while mitigating risks and maintaining strong profit margins in the process will emerge stronger and ready for industry growth in the next few years.

How FTI can help.

FTI Group are positioned as a market leader for prefabricated formwork systems and have been delivering preformed concrete formwork to construction sites throughout Australia for over 25 years.

With large stock holdings and a large production capacity, FTI can offer fixed rates for concrete stairs and metal decking formwork to allow customers reliability, stability and certainty with pricing for their projects.

FTI understands how time-consuming it can be to model and document within Autodesk Revit, that’s why we’ve invested in producing a suite of highly parametric BIM content for Fast Tread® stairs, FTI handrails and BlueDeck Composite™ metal decking formwork.

The suite for Fast Tread® consists of a Revit project demonstrating how the content can be used and applied in various scenarios including stairs, multi-riser stairs and guardrails to achieve code-compliant handrails.

FTI has developed Revit floor and detail item content to make modeling and documenting BlueDeck Composite™ on your project fast and convenient. This suite consists of a Revit project demonstrating the various thickness flooring systems.

Share Post:

Stay Connected

More Updates

Complementary ancillary products: enhancing efficiency and performance on your construction projects.

In the fast-paced world of construction, time is money and every minute counts. As construction companies strive to meet deadlines and ensure safety on-site, having the right ancillary products can make all the difference.

FTI Group, a leader in prefabricated concrete formwork systems, offers a range of complementary ancillary products designed to enhance efficiency and performance in construction projects.

Follow us on Linkedin to stay up to date