Europe Building Materials Market Size

Europe Building Materials Market Size

Europe Building Materials Market size exceeded USD 110 billion in 2020 and is projected to grow at 3.8% CAGR from 2021 to 2027. The growing number of applications for lumber and panel products is likely to propel the industry growth

Europe building materials industry will be majorly driven by rising government & commercial expenditure toward modern infrastructure. In the last few years, there has been a promising growth in flooring systems across the region on account of the increasing number of remodeling and renovation activities. Furthermore, the growing demand for structural changes in residential as well as industrial establishments will augment new roofing & flooring, thus boosting building materials demand. There have been considerable initiatives for the development of state-of-the-art infrastructure to keep industrial and commercial operations smoothly and effectively.

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Developed countries have been experiencing continuous repair and expansion activities across the industrial and commercial sectors. Rising industrial development throughout the developing regions, particularly in Eastern Europe, will support the market share. Modern technological advancements in the production of lumber and wood-based panel products such as X-ray log-scanners are expected to open up growth avenues for industry participants. Speed controllers and automatic algorithms have been installed in several Swedish sawmills, which is forecast to play a major role in building materials market expansion.
 

Rising population coupled with modern living standards have given opportunities to residential and commercial infrastructure development. To meet the changing priorities of consumers, manufacturers have expanded their product portfolio as well as production capacity. Rapid development in flooring and roofing systems has enhanced the demand for lumber, wood-based panels and gypsum across the region.
 

Increasing online sales of building materials has been on the rise in Europe and given stimulus to many small-scale service providers. This would create initial challenges for wholesalers, distributors, and retailers, as shifting the local customer base towards online platforms leads to contracted profit margins. Several manufacturers have created in-house distribution channels to maximize their profit margins. A shift towards sustainable infrastructure coupled with increased use of ecological products will propel the building materials industry demand in Europe.
 

The COVID-19 pandemic has led to value chain disruption, production holdups, and project cancellations. Governments had imposed lockdowns and restrictions throughout the region to control the spread of coronavirus. The rapid vaccination policies to effectively contain and control the pandemic are anticipated to aid in market recovery and growth.