Methodology

Primary and secondary research

Primary research is conducted on a quarterly basis with stakeholders in the value chain, including manufacturers and suppliers/distributors of the target materials, to ascertain market information on prices in recent quarters, and also on projections for changes in the coming quarter and remainder of the year. The market analysis also involves a thorough assessment of secondary sources of data on materials and labour prices, in addition to underlying demand and supply trends that will impact market prices.

Sources include GlobalData’s Construction Intelligence Center (CIC), the World Bank, IMF and OECD, as well as country-specific national statistics offices, such as the U.S. Bureau of Economic Analysis, Bureau of Labor Statistics, and also industry-specific associations and publications.

Definitions

• All commodities are raw materials.
• Nominal data series do not exclude changes in prices and are also referred to as current price series. Annual changes in nominal data for construction output will include changes in construction activity, as well as changes in costs for materials and equipment.
• Real data series are calculated by keeping prices constant (so, are also referred to as constant price series), and therefore, they reflect changes in activity only. Growth rates in nominal terms can overstate the pace of growth in construction activity if there is high inflation stemming from rising prices for key inputs.
• Level of impact rating reflects a combination of factors: price change (compared to recent past beyond the last quarter), the importance of the material, and the general state of the supply chain in terms of stability.
• The key site locations and their respective project values indicated in the sector maps are based on information sourced from the GlobalData Intelligence Center and data available in the public domain at the time of writing this report. These maps are indicative only and do not represent the exact project values.
• High-tech industrial projects are focused on advanced manufacturing in semiconductors and batteries. They include semiconductor fabrication, assembly, testing, packaging (OSAT), and lithium-ion battery production for EVs and energy storage. These projects cover fabs, chip design, battery cell manufacturing, and cleanroom environments linked to chip and energy technologies.
• Price change (estimate vs forecast) indicates the level of fluctuation expected in the prices between the current quarter (Q1 2025) and the upcoming quarter’s forecasted price (Q2 2025).
• Material availability refers to the total quantity of a given material accessible within a country for construction purposes, derived from the sum of domestic production and imports. When material supply exceeds the demand, it is characterised as a surplus. A balanced situation occurs when the supply is sufficient to meet the demand. Conversely, a deficit is observed when the demand for the material outstrips the available supply.
• General state of supply chain reflects the ease of domestic goods movement and the current state of international trade routes. This encompasses challenges related to port capacity, the availability of personnel in the logistics industry, and any geopolitical circumstances that may impede the transportation of goods.
• Electricity​ is defined by the IEA as: "A means of transferring energy from one place to another, generally in a form that is more useful for converting energy into services such as lighting, heating or transport. The means of moving electricity is usually an electric circuit in which an electric charge is made to flow along a closed path, for example within a cable. It is measured in kWh or MWh".
• Power​ is defined by the EIA as "The rate of producing, transferring, or using energy, most commonly associated with electricity. Power is measured in watts and often expressed in kilowatts (kW) or megawatts (mW)."
• Electricity generation​ is defined by the OECD as: "Electricity generated from fossil fuels, nuclear power plants, hydro power plants (excluding pumped storage), geothermal systems, solar panels, biofuels, wind, etc". This indicator is measured in gigawatt hours (GWh) and in percentage of total energy generation.
• Energy supply​ is defined by the IEA as: "Total energy supply (TES) - the total amount of energy available to a country, including domestic production, imports, and storage, minus exports."  It essentially represents the energy needed to meet domestic demand, considering all sources of energy, including those used directly and those transformed into fuels or electricity. 
• Final consumption​ is defined by Eurostat as: "Total energy consumed by end users, such as households, industry and agriculture. It is the energy which reaches the final consumer's door and excludes that which is used by the energy sector itself."​​
• Renewable energy is defined by the EIA as: "Energy from sources that are naturally replenishing but flow-limited; renewable resources are virtually inexhaustible, but they are limited by the availability of the resources".