European parquet market records 30% drop in 2023: FEP

Image: FEP

According to the European Parquet Federation (FEP), the European parquet market experienced a significant drop of 30% in 2023, echoing the collapse in construction activity.

This evaluation is based on information obtained from FEP’s members and should be considered as a preliminary forecast. It is the result of best estimates discussed with member country representatives during the January FEP Board meeting held at the FEP new premises in Brussels.

FEP emphasises that this is a first forecast subject to variations, in anticipation of the complete data which will be communicated next June during its General Assembly in Vienna.

After a successful 2022, during which European consumption of parquet maintained the level reached during the booming year 2021, parquet consumption decreased in all European markets in 2023, reflecting the decline in construction activity, high interest rates and lack of consumer confidence.

The year 2024 is expected to be stable with a low level of consumption. The sector seems to have reached a bottom where it could remain for some time.

The de-stocking has ended and FEP’s members are therefore no longer observing speculation but real consumption. The awaited drop in interest rates should support confidence and purchasing power, as reported by FEP.

It should be noted that consumers can rely on the European parquet industry in a context of successive crisis, including COVID-19, wars, Red Sea disruption. Delivery times in the European parquet industry have returned to pre-COVID level.

The FEP’s 68th General Assembly and 48th Parquet Congress have been scheduled for 13 and 14 Jun 2024 in Vienna, Austria.