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Europe Building Materials Market: Industry analysis and forecasts to 2024

Author : Rahul Varpe | Published Date : 2020-08-21 

Europe building materials market is projected to emerge as one of the leading remunerative verticals in the robust construction sector, given that the region is witnessing unprecedented growth in refurbishment and reconstruction activities. The governments are heavily investing in the development of smart cities and other renovation projects to enhance the prevailing building structures and facilitate sustainable infrastructure solutions that comply with carbon emission targets.

The rise in carbon dioxide levels has raised serious concerns in Europe. Additionally, the rapidly increasing urbanization and the need for sustainable solutions has led to the construction of smart infrastructures. Increasing demand for efficient construction practices along with the need for advanced, innovative and reliable construction solutions will support construction materials demand in the coming years.

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The thriving tourism sector in Europe is a major factor propelling the need for advanced construction activities across the region. Estimates indicate that the region witnesses a high number of tourists regularly visiting countries like Spain, Italy, France, UK, and others. This creates a need to develop resorts, hotels and other commercial buildings to accommodate the growing influx of tourists.

Between 2013 to 2016, Europe’s commercial construction sector showcased a revenue growth rate of over 9.4% and is expected to grow at a rapid rate in the coming years owing to the rise in establishment of industries and businesses. Consistent efforts to expand the commercial infrastructure will bolster Europe building materials market forecast.

Increasing internet penetration in the region owing to high disposable income among people coupled with growing dependence on e-commerce industry to purchase products is supporting the establishment of startups. Various online companies are offering innovative and advanced products to the people in Europe. The need to meet the high production need and to facilitate storage of the products creates a high demand for warehouses, distribution centers and storage centers in the region.

Reportedly, in 2016, the e-commerce industry and warehouse operations in Europe accounted for more than 17 million square meters and is likely to witness robust growth in the coming years owing to busy lifestyles and improving purchasing power among people.

U.K. adds the most amount of value to the Europe construction sector. In the year 2017, the UK building materials market recorded sales of over USD 8.5 billion. Major projects in the region are aimed at reconstruction and renovation of old infrastructures along with the construction of new residential complexes, owing to high rate of affordability and rising population.

Moreover, the country receives financial support through renovation loans and grants sanctioned by the European Structural and Investment (ESI) that supports advanced construction procedures. In terms of application, flooring segment in Europe building materials industry is likely to register a CAGR of over 5.4% through 2024. The construction sector uses particle board in applications like web plate, floor, interior lining, furniture frame making process and the base material in doorcase.

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Particleboard sheets are usually used to make various flooring products owing to their dimensional stability. Growing need for innovative building designs, textures, and shades along with modern architecture is outlining Europe building material market outlook. As Europe goes through a significant rise in tourism and construction, the region will witness a subsequent rise in the use of advanced building materials.

 

 

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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