European parquet market with 30.5 percent decline in 2023

After a strong year in 2022, which matched the level of the boom year 2021, the European parquet market experienced a significant decline of 30.5 percent in 2023, according to the Federation of the European Parquet Industry (FEP). Declines were observed across all European markets. Reasons for this decline, according to the FEP, included the decrease in construction activity, high interest rates, lack of consumer confidence, and unfair competition.

Production in the FEP region fell by 30.5 percent in 2023 to 54.4 million square meters. Production in Europe outside the FEP countries is estimated at 10.4 million square meters. Considering the total production in Europe (FEP countries and non-FEP countries), this means that production in 2023 decreased by 29.52 percent to 64.74 million square meters.

For 2024, the FEP expects a stable development with low consumption. The sector, according to the FEP, seems to have reached a low point. The inventory reduction has ended, and real consumption can now be observed. Overall, the situation in the European parquet markets remains challenging.