The Concrete, Cement, and Plaster Articles turnover in the UK showed fluctuating values over the past decade, experiencing significant peaks in 2015 and 2017, reaching values as high as 10.34 billion Euros and 9.51 billion Euros respectively. The market saw a substantial drop in 2018, followed by a relatively stable turnover around 7.5 billion Euros from 2020 to 2023. In 2023, the turnover stood at 7.41 billion Euros. A slight year-on-year decline was observed from 2019 onwards, generally within the range of -0.62% to -0.65%. The five-year Compound Annual Growth Rate (CAGR) from 2019 to 2023 was 1.73%.
Looking forward, the market is expected to continue its slight diminishing trend, with forecasted values indicating a gradual annual decline. By 2028, the turnover is projected to be around 7.17 billion Euros, with a forecasted five-year CAGR of -0.53%, translating to an overall decrease in growth rate by 2.6% over the next five years.
Future trends to watch for include:
- Potential shifts in demand due to economic changes or infrastructure investments.
- Technological advancements in construction materials.
- Impact of regulatory changes and environmental considerations.
- Market dynamics from international trade policies and global economic factors.
