Building Materials Market for Housing in Japan: Key Research Findings 2022
Building Materials Market for Housing in FY2021 Expanded due to Recovery in Number Construction Works for New Houses and Invigoration in Home Renovation Market
Yano Research Institute (the President, Takashi Mizukoshi) carried out a survey on the domestic building materials market for housing, and found out the current status by category and future perspectives.
Summary of Research Findings
The domestic building materials market size for housing in FY2021 expanded, as the impact from the coronavirus infections alleviated, which brought about recovery in number of construction works for new houses and invigoration in home renovation market.
On the other hand, “wood shock” that caused soaring wood prices and disruption in supply chains due to shortage of woods, skyrocketing energy prices, and economic recession stemming from global inflation have affected the building materials market. They could be future concerns without any sign of dying down.
Future Trends of Building Materials Market for Housing
When observing the long-term perspectives for future building materials market for housing, as the domestic population as well as the number of households being on the decline, the number of construction works for new houses is likely to decrease, but the level of market shrinkage as a whole does not seem to be that significant, as the unit price per product is likely to rise due to the impacts from improved added values and inflation.
Still, when viewed from building materials manufacturers, appropriate measures against repetitive natural disasters by enhancing earthquake resistance and improving water resistance, or against social challenges such as decarbonization, seem to be needed to raise the corporate significance.
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