Europe Building Materials Market Is Projected To Hit USD 125 Billion by 2024

Europe Building Materials Market Size, Industry Analysis Report, Regional Outlook (Americas, Europe, APAC and EMEA), Application Development status, Price Trend, Competitive Market Share & Forecast, 2019-2024.

Europe Building Materials Market size is estimated to exceed USD 125 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing government expenditure on infrastructure development coupled with surging demand for affordable houses are the key factors boosting Europe building materials market growth. Rapid urbanization and increasing migrant population in the region have led to the construction of new residential structures.

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Europe building materials market share is non-consolidated and highly competitive. Presence of numerous industry players having an existence across the value chain increased the business competition. BASF, Saint Gobain, and James Burrell are among the key identified players. Other key companies are Siniat, Gyproc Iberica, Fassa Srl, Danzer, UPM Plywood, Puumerkki, PCI Augsburg, Murdock Builders Merchants, Kastamonu, and Bituline Industries S.A.

Growing inclination towards remodeling & renovation, premium interiors, along with rising disposable income are projected to stimulate the regional industry growth. Effective insulation, enhanced material safety, protection against climatic change, and improved health, safety benefits are fueling the demand for eco-friendly building materials demand in Europe.

Rapid population growth across several nations in Europe has enhanced the demand for the development & renovations of existing buildings. Rising consumer inclination toward applications such as vanity, modular kitchens, and laundry rooms will further fuel the Europe building materials market growth. Eco-friendly materials have been the primary preference of consumers owing to the long durability, stimulating market expansion.

Flooring application is expected to witness over 5.5% growth up to 2024. Timber or wooden floors capture the attention of visitors owing to their lucrative natural appearance, fueling product applications. Wooden floorings are manufactured in various styles, colors, shades, and cuts using various species of timber and high-quality lacquer coating & finishing products. The specific types of wood including softwood flooring and hardwood flooring in the portfolio are boosting the industry growth.

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Panel products segment is dominated by particleboards, which accounted for over 55% of the total panel product demand. Particle boards are manufactured by using sawmill shavings, wood chips, and sawdust using synthetic resins and a suitable binder, or adhesive products. Economical costing, smoothness, popularity among workers for painting, and the ease of shaping are among the several benefits primarily driving the European building materials industry growth.

Lumber products dominated the overall materials segment and accounted for more than 54% of the demand in 2017. Timber structures offer excellent stability and protection from outer climatic conditions, which are its key benefits. Building structure, furniture making, and flooring are major applications for the lumber products.

UK generated more than 8 billion revenue in 2017. The UK Office of National Statistics reported, the country’s construction index has been the highest in the past 15 years. Moreover, the developments have been substantially increased from 83.4 in 2012 to 107.2 in 2017. The major upcoming infrastructure projects in the country include Aykon London One, Brent Cross Shopping Center, Angel Meadows, along with new stadiums are key infrastructures likely to be built before 2024.

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Surging adoption of a sustainable infrastructure along with the rising implementation of eco-friendly materials such as lumber, plywood, and other particleboards is boosting the UK building materials industry. Industrial roundwood production in the country was more than 8,882 thousand cubic meters in 2016. The softwood production has increased from around 3,053 thousand cubic meters in 2010 to more than over 3,557 cubic meters in 2016.

The major manufacturers of lumber in Europe are Stora Enso, Ilim Timber, Pfeifer Holz, Sodra Timber, Binderholz + Klenk Holz, SCA Timber and BSW Timber. Stora Enso is the largest softwood lumber producer among them in terms of softwood production and have 19 dedicated sawmills across Europe.