According to a report from American City Business Journals, the use of prefabricated building materials is on the rise. Developers are using the materials to expedite construction and to trim rising construction costs spurred by industry-wide materials costs increases.
The report states that China is consuming more steel and concrete as its economy heats up, which drives up commodity prices. Additionally, last year’s storms, especially Hurricane Katrina, have increased demand for building materials and in many cases limited their availability. Further, the continuing real estate boom has heightened demand for materials to build condominiums, single-family homes, hotels, and office buildings.