Selbyville, DE -- (SBWire) -- 07/02/2020 --The Europe building materials market is slated to observe substantial growth over the coming years owing to the rising government expenditure on smart city development initiatives and infrastructure renovation projects. In fact, such smart city initiatives are actively driving the industry growth through the smart building materials segment. Smart construction materials boast of many applications in smart building designs and used for safety, performance, noise mitigation and vibration control.
Smart materials such as smart concrete, a carbon fiber and concrete composite, are being increasingly used in construction due to the benefits they offer over their conventional counterparts. For instance, the smart concrete used to construct smart structures can sense minute structural flaws and cracks. The materials also possesses greater potential and higher structural strength.
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In addition, factors such as rapid urbanization and increasing environmental concerns have also elevated the demand for smart infrastructure solutions in the region, augmenting industry outlook. Increasing inclination towards the adoption of efficient construction practices that have superior abilities and can offer enhanced integration, advanced designing benefits, and improved planning would also fuel the regional market outlook.
Following is an overview of the top trends fueling the Europe building materials market size:
Increasing demand for lumber
In terms of material, the lumber segment was valued at more than $70 billion in 2017. The segment is projected to experience considerable growth over the coming years due to the superior support benefits and excellent physical strength offered by lumber.
Hardwood species such as red oak, oak, ash, mahogany, birch, rosewood, teak, maple, and lauan are projected to witness higher demand. Exceptional physical hardness, creep resistance, and stiffness are some of the major benefits proliferating the segment share and impelling the Europe building materials market size.
Growing focus of modern architecture on flooring
With reference to application, the flooring market is slated to observe substantial growth as modern architecture is attracting more consumer attention, particularly in terms of new generation designs, textures, and shades.
The construction sector typically uses particleboard in applications like web plate, interior lining, floor, and as the base material in furniture frame, and door core making process. Subsequently, flooring products are predominantly made from particleboard sheets owing to their dimensionally stable benefits, which is likely to further impel the segment size.
Based on the aforementioned factors, the flooring application segment is anticipated to grow at an impressive CAGR of more than 5.4% through the forecast timespan.
Rising residential construction initiatives in the UK
The UK building materials industry recorded sales of over $8.5 billion in 2017 and is poised to observe immense growth through the projected timeframe. A significant rise in residential construction and renovation activities, due to the growing regional population and increasing inflow of migrants, would drive the regional market growth.
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In addition, lower interest rates and improved incomes of the country's population are also one of the key determinants fueling the demand for building materials. Moreover, the financial support offered by ESI (European Structural and Investment) through renovation grants and loans would further positively impel the business share.
Major industry players are adopting various strategies like investments, partnerships, and acquisitions to gain a competitive edge in market. Citing an instance, in November 2019, Saint-Gobain entered into a definitive agreement with Continental Building Products to procure all of its outstanding shares at a rate of $37 per share. The overall transaction was valued at over $1.4 billion and effectively widens the asset portfolio of Saint-Gobain and improves its ability to cater to a broader customer base through innovative solutions.
The competitive landscape of the Europe building materials market is inclusive of players like Bituline Industries, Siniat, Gyproc Iberica, Danzer, Kastamonu, UPM Plywood, Saint-Gobain, James Burrell, and BASF among others.
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