To say that COVID-19 turned the entire world on its head would be a vast understatement. The business world bore the brunt of much of that insecurity, however, in every conceivable way. Disruptions to the global supply chain impacted everything from retail to manufacturing.
Over 4,200 different supply chains were disrupted in 2020 alone. That’s a 39% increase over 2019, which also saw a record rise in supply shortages all over the world and in every industry.
With COVID-19 winding down, analysts believe the worst is behind us. We’ll be recovering from these tumultuous shifts for a long time to come, though.
What influence have global supply chain disruptions had on the bathroom remodeling and kitchen remodeling industries? Here’s what you need to know before undertaking your next home remodel.
Bathroom Accessory Shortage Reached 75%
In 2021, the National Association of Home Builders (NAHB) reported that the supply shortage of bathroom accessories used for bathroom remodeling reached a staggering 75%! This caused more than 90% of home builders to experience a supply shortage.
Prices also rose dramatically at that time.
Bathroom accessories are just one supply chain shortage impacting bathroom remodeling. Household appliances reached an unbelievable 95% shortage in 2021. Framing lumber had a 94% shortage.
Even tile and cabinets were affected.
Luckily the world is returning to health and safety. If you’ve been putting off your home remodeling project, now’s the perfect time to get started!
The supply shortage impacted the home construction industry in every conceivable way. It even impacted the industry in some unexpected ways.
The shortage of building materials put a strain on the number of new homes being built. This meant that qualified homebuilders and skilled craftspeople were snatched up to meet the skyrocketing demand.
This shortage resulted in major delays for every kind of renovation project. It also illustrated some ongoing issues in the construction industry.
For some time, the number of tradespeople has been dwindling as older workers retire without enough younger workers to replace them.
The numbers are still out on the current labor shortage. Things are improving, across every metric, that much we know. In the meanwhile, if you’re planning a bathroom renovation, we recommend you book your contractors early.
Current State of the Global Supply Chain
As we’ve stated, analysts believe that these supply chain shortages are temporary. These disruptions were caused by a perfect storm of particular circumstances.
Complications due to COVID-19 made manufacturing work challenging. Social distancing and quarantine placed a strain on global shipping. Then there was a spike in demand exactly as these shortages were beginning.
As the global pandemic winds down, we’re transitioning into a new normal. Prices are returning to pre-pandemic rates and the waiting time has fallen significantly. If you’ve been on the waiting list, let this be the summer of your home renovation!
Ready For Remodeling?
Now that the global supply chain is returning to normal, it’s the perfect time to schedule that remodeling project you’ve been dreaming of. Whether you’re a contractor or a DIY craftsperson, let us help you with your countertops.
Get in touch with any questions or to schedule a consultation.