The Building Products & Services Sector: what can we expect to see in 2023?
In the wake of COVID-19, the Building Products and Services (BP&S) sector experienced strong recovery and in areas such as residential improvement, high growth. Geopolitical challenges and the impact of Government leadership changes are now creating stronger headwinds for the sector with overall growth forecasts tailing off, especially in residential improvement and housebuilding. But exciting prospects lie ahead, driven by underlying long-term demand for housing and better infrastructure, the shift towards energy efficiency, sustainability and decarbonisation, plus the evolution of technology. Structural changes in the regulatory landscape will also create long-term opportunities for the sector.
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