The Europe construction products market size was $89,090.4 million in 2017, and is projected to reach $124,115.8 million in 2023, growing at a CAGR of 5.7% from 2018 to 2023. The construction products such as siding, trim, subfloors, partitions, and others are used to protect infrastructure from impact of moisture and temperature, as well as these products provide aesthetic appeal to infrastructure.
The rise in migration of population in Europe is the major factor, which increases the demand for developing and remodelling of buildings in residential and commercial sector. Moreover, European government has formulated initiatives aiming at designing, building, and operating structures following green building concept, for the efficient use of energy and resources used for construction. However, shortage of skilled workers and high material costs are the major challenges faced by construction sector. Higher investment in installation and associated maintenance of construction products hinder the growth of the market. Rapid urbanization and industrialization increased adoption of smart infrastructure concept, which reduced energy requirements and significantly reduced carbon emissions, in past years. Thus, it provides lucrative growth opportunities to manufacturers to expand the business in Europe.
The Europe construction products market in segmented based on product type, end user, and country. Based on product type, it is categorized into siding, trim, and structural subfloors, among which siding and trim are further classified into material type which includes wood, engineered wood, vinyl, plastics, fiber-cement, bricks, and others. The siding products segment is expected to dominate the market throughout the forecast period. Depending on end user, it is bifurcated into residential building and commercial building (shopping mall & retail store, hospital, office building, and others). The commercial buildings segment dominated the market in terms of revenue in 2017, owing to growth in population and increased demand for renovation and development of buildings. By country, the market is analyzed across Western Europe and Eastern Europe. The countries considered in Western Europe includes Germany, France, UK, Italy, Netherlands, and rest of Western Europe, where the countries considered in Eastern Europe are Poland, Hungary, Russia, Czech Republic, Romania, and rest of Eastern Europe. Western Europe is anticipated to contribute higher share in the market during the forecast period, owing to rapid urbanization and industrialization.
Wienerberger Baustoffindustrie AG, Holzplast LLC, Hanson Building Products Limited, Hekim Construction Inc., Kingspan Group, and Leier International are some of the key players of the Europe construction products market.
KEY MARKET SEGMENTS
BY PRODUCT TYPE
By End Users
Shopping Mall & Retail Store
Rest of Western Europe
Rest of Eastern Europe
Rest of Europe
Wienerberger Baustoffindustrie AG
Royal Europa Sp. z o.o.
Hanson Building Products Limited
Hekim Construction Inc.