Constr., Infra & Materials (AO) | The Week in Building Materials: Relevant EU ETS development

Research evidence excerpt

Constr., Infra & Materials (AO) | The Week in Building Materials: Relevant EU ETS development

t believes that renovation remains resilient but no

longer delivers the strong counter-cyclical support seen during the energy-efficiency boom of earlier years. The non-residential

sector is performing somewhat better. EUROCONSTRUCT expects, after a small contraction in 2024, growth to return in 2025,

accelerating in 2026. The association states that civil engineering remains the strongest and most stable component of the

European construction cycle. After growing in 2023 and in 2024, the sector is forecast to expand in 2026, with both new

infrastructure and renovation contributing. New civil engineering work is projected to grow, while renovation records a solid

growth through 2028. The sector is set to stand really above 2023 levels by 2026, driven by transport investment, energy-

transition infrastructure, climate adaptation and EU-funded programmes. National trajectories remain highly heterogeneous.

Only four countries, Ireland, Poland, Sweden, and the UK, are expected to exceed 4% annualised growth between 2026 and

2028, while France and Germany are believed to remain subdued at 2% and 1%. EUROCONSTRUCT projects total construction

output to exceed 2023 levels by 2027, although the recovery should be uneven and sensitive to ongoing economic uncertainty.

▪US cement. The Sullivan Report’s latest outlook update (April 2026) highlights that the US cement market has been in a decline

for three consecutive years, translating into more than a 10mt decline since 2022. The volume loss has pushed clinker

utilisation rates lower, reduced reliance on imports, and prompted a moderation in cement and concrete pricing. The Outlook