Building Materials Market size in Europe worth $145 BN by 2027
Published Date: August 4, 2021 Authors: Kiran Pulidindi, Saurabh Bhalerao
Building Materials Market size in Europe is forecast to exceed USD 145 billion by 2027; according to a new research report by Global Market Insights Inc.
Rapid urbanization coupled with a surge in infrastructure development & construction of residential buildings in European countries is among the primary drivers of the building materials industry growth. Government support for infrastructure development and low interest rates have propelled construction activities across the region. Improved safety, protection from climatic change, enhanced insulation, and health safety are the key factors fueling the demand for effective building materials. Besides, increasing home ownership rates in several countries will drive the regional market revenue.
There are several ongoing construction projects in the UK, Germany, and Italy, which will spur the building materials market in Europe. Residential buildings which mainly need construction of bathrooms, toilets and vanities are also expected to propel the construction materials industry statistics.
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The COVID-19 pandemic resulted in low labor force, shrinkage of raw material supplies, and a downturn in construction demand. Government regulations and country-wide lockdowns across several European nations had severely hampered the production facilities. A steady economic recovery from the pandemic and the rising need for remodeling of residential areas are projected to offset this adverse impact, with the industry expected to recover steadily in the coming years.
Browse key industry insights spread across 410 pages with 376 market data tables & 45 figures & charts from the report, “Europe Building Materials Market Size By Material (Lumber, Panel Products [Plywood, MDF, Particle Board, OSB, HDF], Gypsum), By Application (Flooring, Door and Window, Kitchen, Bath, Vanity, Toilet, Roofing, Outer Siding, Furniture [Interior, Garden Furniture]), COVID-19 Impact Analysis, Country Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Wood panel segment will prove to be the fastest-growing material type by 2027
Wood panel products accounted for around 20% of the market revenue share in 2020 owing to their properties of stability & easy installation along with extended utilization in a wide range of applications. Wood-based panel products must comply with CPR regulations used in constructions building materials under European standards. There has been an increase in the preference for these materials in kitchens and for door & windows manufacturing. The panels are largely utilized in making of designing doors, decorative kitchen and bathroom wall panels, fueling the European building materials market growth.
Flooring systems to contribute significantly through 2027
The flooring application is poised to register growth rate of over 4% CAGR through 2027. Timber or wooden surfaces offer a premium & natural appearance and high aesthetic appeal. Wooden floorings come in a wide variety of designs, colors, cuts, and shades by applying high-quality lacquer coating & finishing chemicals on various types of timber.
Engineered flooring made up of oak, walnut, or larch is gaining traction. These eco-friendly materials have been preferred by consumers due to their durability and comfort as compared to tiles and stone floors.
UK to display solid growth throughout the forecast timeframe
Improving lifestyles and the growing number of nuclear families will boost the demand across the UK market. The private residential sector is expected to be a key beneficiary of these trends. The domestic demand is forecast to grow at more than 4.5% from 2021 to 2027.
Europe building materials market share is extremely competitive with the presence of several local as well as global players including BASF SE, Bituline Industries S.A., James Burrel, PCI Augsburg GmbH, Murdock Builders Merchant, Saint Gobain, JSC SKY, Fassa Bortolo, UPM Plywood, Danzer Group, Klausner Group, among others.
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