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.
Download PDF Sample Report @ https://www.alliedmarketresearch.com/request-sample/4628
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
Royal Europa Sp. z o.o
Hanson Building Products Limited
Hekim Construction Inc.
Request for Updated Custom Report @ https://www.alliedmarketresearch.com/request-for-customization/4628
Key Market Segments
By Product Type
Shopping Mall & Retail Store
Rest of Western Europe
Rest of Eastern Europe
Rest of Europe
Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/4628