At the start of Q3, as expected, we experienced reduced demand over the summer months primarily as a result of seasonality. Demand picked up towards the end of the quarter and that momentum has continued into Q4. However this demand is again affected by seasonality patterns as a result of a volatile landscape commercially.

Product availability and supply is robust. The Construction Leadership Council said on the 17th of October: “as we move into the fourth quarter of 2022, all regions are reporting the best product availability in two years, both in the range and volume of products available and delivery/lead times.”

This is a positive sign for the immediate future, however the economic turmoil we have seen over the last few months continues to affect consumer confidence. As a result, we are experiencing early signs of demand slowing for 2023 across our principal sectors of Residential, Commercial and particularly RMI/ Change of use.

Rising energy costs are a concern, but also a significant opportunity for our industry to operate more sustainably and accelerate progress towards the UK government’s target of being net zero by 2050. Construction is responsible for around 25% of the UK’s greenhouse gas emissions, but plenty can be done to reduce this output, and we’re already seeing a more focused collective effort from businesses across the industry.

Forty percent of our vehicle fleet is now fuelled by hydrotreated vegetable oil (HVO), and another 10% by liquefied natural gas (LNG). These changes are expected to reduce our carbon emissions by 70% year-on-year.

Manufactured from waste materials, which are not fit for human consumption, such as cooking oil, HVO can reduce CO2 emissions by up to 90%. Its popularity is increasing worldwide as a viable alternative to traditional fuels, and we encourage businesses in our industry and beyond to explore the potential of multi-fuelled vehicles.

I take confidence from the efforts construction businesses are making towards sustainability and the net-zero target. It’s important that we continue our sustainability push and set an example for other industries.