Europe Building Materials Market to Record Substantial Growth During 2018-2024

May 11, 2020

As per the report titled ‘Europe Building Materials Market Size By Material , By Application, Industry Analysis Report, Country Outlook Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024’, available with Market Study Report LLC, Europe building materials market is projected to see prominent gains through 2024.

Increasing government expenditure on renovation projects and the development of smart cities are primary growth drivers of Europe building materials market. Growing environmental concern and rapid urbanization have led to an upsurge in the demand for smart infrastructure solutions. This factor coupled with shifting focus towards efficient and sustainable construction practices that offer enhanced integration, improved planning, and advanced design benefits will expand the business landscape during the forecast period.

Consumer preference towards superior quality, high performance, and low-cost materials is positively impacting the industry outlook. Moreover, rising penetration of premium windows and door designs is boosting the market growth.

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Strong growth of e-commerce industry is favoring the construction of wide distribution centers, warehouses and storage centers, which coupled with the emergence of innovative energy saving building designs is expected to create new growth opportunities in the market.

Based on the material terrain, lumber segment generated USD 70 billion in 2017. Surging demand for hardwood species such as oak, ash, red oak, mahogany, birch, maple, teak, rosewood, and lauan can be attribute to their physical hardness, superior stiffness and creep resistance properties.

Speaking of the application spectrum, roofing segment accounted for USD 560 million in 2017 and is predicted to see decent gains over the forecast timeline. European roof framing mostly consists of timber, boards, logs, and various types of wood species that possess excellent mechanical strength. Inclination towards high quality materials including wood components for strong structural support of the rooftop is driving the segment growth.

Meanwhile, Europe building materials market share from flooring segment is estimated to register 5.4% CAGR through 2024. Particleboard sheets are extensively used for making flooring products owing to their dimensionally stable benefits. Incorporation of modern architecture including shades, textures, and new generation design is rendering a positive impact on the industry.

Considering the geographical landscape, building materials market in UK garnered sales worth USD 8.5 billion in 2017 and is anticipated to see considerable gains during the analysis timeframe. Increase in number of renovation activities and new residential construction projects to meet the housing demands of increasing population and growing number of migrants are fueling the growth of building materials industry in UK. Furthermore, comparatively lower interest rates for construction loans, rising per capita income, and favorable policies by European Structural and Investment (ESI) are complementing the industry growth in UK.

Major players in Europe building materials market are BASF, James Burrell, Bituline Industries SA, Murdock Builders Merchants, PCI Augsburg GmbH, JSC SKV, Saint-Gobain Gyproc, Siniat (acquired by Etex), Fassa Bortolo, UPM Plywood, Thebault Group, Danzer Group, Mogentale A Srl, Puumerkki Oy, Kastamonu Entegre, and Klausner-Group among others.

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