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Europe Construction Products Market Worth $124,115.8 Million by 2023 | Key Segments, Benefits & Opportunity

Growth in population increases the demand for renovations and the development of buildings drives the market growth.

PORTLAND, OR, UNITED STATES, October 21, 2021 /EINPresswire.com/ -- The demand for construction of residential buildings is on an increase owing to rise in disposable income and new product development. In addition, increased migration of population in Europe creates the need for commercial construction and increases the demand for renovations of buildings and development of new buildings. Moreover, the construction products such as siding, trims, and subfloors are highly required to protect exterior and interior infrastructure from the impact of changing environment, as well as it gives aesthetic appeal to the infrastructure.

The market was accounted at $89,090.4 million in 2017, and is expected to reach at $124,115.8 by 2023.

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However, scarcity of skilled workforce for installation, high cost of materials, insufficient dissemination of knowledge, and the poor-quality materials being supplied by some suppliers are challenging factors, which can hinder the growth of construction products market in Europe.

Rapid urbanization and industrialization is providing growth opportunities to the manufacturers. The construction sector is the most dynamic and high growth sectors of the European economy. Rapid growth and development of urban areas results in shorter construction timelines and reduced costs. Moreover, population growth and urbanization are increasing demand for jobs, housing, energy, clean water, food, transportation infrastructure, and social services, which provides growth opportunities to manufacturers to expand business in Europe.

This in turn, increasing competitors network in Europe. Many key players are acquiring and establishing partnerships with other manufacturers to improve capabilities. For instance, HeidelbergCement subsidiary Italcementi acquired Cementir Italia to improve its presence and expand its business in Italy.

Key Market Players

Wienerberger Baustoffindustrie AG
Holzplast
U-Kon System
Royal Europa Sp. z o.o
Hanson Building Products Limited
Hekim Construction Inc.
Kingspan Group
Leier International
RHEINZINK

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Key Market Segments

By Product Type

Siding

Wood
Engineered Wood
Vinyl
Plastic
Fiber Cement
Brick
Others

Trim

Wood
Engineered Wood
Vinyl
Plastics
Fiber Cement
Brick
Others

Structural Subflooring

By End-User

Residential Building
Commercial Building
Shopping Mall & Retail Store
Hospital
Office Building
Others

By Region

Western Europe

Germany
France
UK
Italy
Netherlands
Rest of Western Europe

Eastern Europe

Poland
Hungary
Russia
Czech Republic
Romania
Rest of Eastern Europe

Rest of Europe

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David Correa
Allied Analytics LLP
+18007925285 ext.
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