United Kingdom building plaster product manufacturing market: Â£733.6 million industry by 2019
Building Plaster Product Manufacturing in the UK - Industry Market Research Report - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-23 15:57:02
Before 2008, the United Kingdom building plaster product manufacturing market was doing well. High levels of disposable income and financial security were behind a booming construction sector. Residential and commercial building projects, bolstered by easy capital access, were surging sources of demand for building plaster products. The economic downturn that struck in 2008 dealt a devastating blow to the construction sector, slashing demand for the plaster products used by builders. Industry revenue plummeted as a result.
Government intervention helped temporarily stem the loss by pouring public funds into new building projects. However, the Labour government responsible for these policies was replaced by a coalition that quickly reversed them. This led to persistent stagnation in the construction sector and the upstream Building Plaster Products Manufacturing remained in the red. The outcome of all this is expected to be a compound annual revenue decline of 3.4% over the five years through 2013-14. Revenue is forecast to reach Â£648.1 million at the end of the current year after a 1.7% fall from 2012-13 figures.
However, a modest recovery is forecast for the next few years. The coalition government has gone to great lengths to get Britain building again. From the relaxation of planning restrictions to the provision of direct financial support to property developers, Westminster is demonstrating its keenness to bolster the construction sector. An improving economic outlook is also drawing more construction investment as landlords position themselves to capitalise on rising property prices. This is good news for the UK Building Plaster Product Manufacturing industry. A rising number of building projects should similarly boost demand for essential plaster-based building materials. As a result, industry revenue is projected to grow at a compound annual rate of 2.5% over the five years through 2018-19. It is forecast to reach Â£733.6 million after a period of sustained, though modest, expansion.
Despite this, profitability, badly bruised by the economic downturn, is unlikely to grow at the level projected for industry revenue. Increasingly concentrated competition is expected to squeeze margins as firms battle for market share.
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