The values that steel offers to the construction industry have been recognized by specifiers and designers, and this explains why the market share of steel has increased by more than 90% for single-storey buildings. It is good to note that the versatility of steel enables architects to have the freedom to achieve very daring dreams, structural steel is a part of almost all the key structures like stadia, commercial properties, and shopping centers and steel cladding systems adorn major landmark structures. Steel is a very sustainable material that is used in construction and properties such as the strength and durability together with the ability to be recycled many times over without ever losing the quality that makes it very reliable for long-term sustainable development.
Building owners understand the value in the flexibility of steel buildings and the value they provide like the open, light, airy spaces that can be created that make it ideal for modernization, extending, reconfiguring or adapting the structure with little disruption and without any expensive and harmful demolition and redevelopment.
One of the merits of steel structures is that they can be erected quickly, and the predictability and accuracy of steel components speed up the process and enables follow-on trades to work very soon and this delivery time saves in the building programme unlike a concrete frame, and this aspect is one of the reasons why steel is chosen. In many city projects it is vital to cut down on the disruption to close buildings and roads and the short construction periods leads to many savings in site preliminaries, an early return on investments and lower interest charges. The savings related to time can be between 3%-5% of the whole value of the project which has an effect of cutting down on the requirements of the client when it comes to the working capital, and it also improves the cash flow.
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In recent years, the price of steel has fallen to an all-time low in the last decade and a half, tremendous productivity advances have been achieved throughout the steel supply chain, and the cost savings benefits have reached the customer. It is good to state that the reason why the price of steel has fallen could be due to the fact that there is a huge number of steelwork contractors that tender for steel projects and such a competitive sector means that the customer always gets the value for their money and according to the latest statistics there are 130 audited contractors.
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Steel-framed structures are very durable, and they do not decay or age as rapidly as other construction materials that last way longer before any kind of refurbishment has to be done on the property.