The positive sign is back in the construction world: following a decline in 2020 (-4.4 percent), the sector in the Euroconstruct area closed 2021 with +5.6 percent, recovering much of the gap with 2019.
Specifically, according to data reported in a Ceramic World Review article, 15 European countries have surpassed pre-covid levels, with Italy showing a significant leap forward (+13% after -4.5% in 2020).
In contrast, Germany closes almost at break-even on 2019, while France, Spain and the United Kingdom are behind by -5.7; -3.2 and -2.9 percentage points, respectively.
Of note, all Nordic countries performed better than in 2019, with Denmark leading the way with +17.8 percent.
What do the estimates say about 2022?
According to industry estimates, released at the 93rd Euroconstruct Conference held in Warsaw on June 9 and 10, 2022 will be a year of growth rate deleceration for the Euroconstruct countries, which will stand at +2.3 percent. The same forecast is there for 2023 as well. This is because of the still unstable conditions on the Continent related to the energy crisis and the war in Ukraine.
Estimates to 2022-2024
Estimates for the three-year period 2022-2024 in the Euroconstruct area are positive: a growth rate of +6.1 percent is expected in EC-15 countries, slightly lower than the rate in EC-4 countries, which will touch +6.4 percent.
Going into the specifics of the countries involved, the largest increases will be in Ireland (+15.1 percent), followed by Spain (+14.3 percent) and Slovakia (+13.5 percent). Norway and Denmark are also growing, with an estimated rate of 3 to 4 percent.
Over the three-year period examined, all three main segments of the market (construction, civil engineering and renovation) see a growth outlook, but with a fair amount of variability related to the socio-economic condition at the time.
