Mapei Expects Gradual Recovery in Construction

The construction industry is not expected to see a rapid rebound next year, but rather a slow, gradual recovery, driven primarily by residential renovations, energy efficiency programs, and preferential loans, the local unit of Italian building materials maker Mapei said in a report.

Managing director Béla Markovich said the Home Start subsidized credit scheme for first-time home buyers could stimulate the market for new homes while the energy renovation programme can accelerate the modernisation of the existing building stock. The two measures can have a stabilizing effect on the sector after the weak year of 2025, he added.

The company expects that the trend of renovations may continue for several years, partly due to subsidies and partly because a modernised apartment consumes significantly less energy and its market value also increases noticeably.

The report noted however that higher demand will lead to a further increase in the shortage of professionals. According to professional association EVOSZ, in 2025 a significant proportion of businesses will struggle with a serious labor shortage in skilled trades, despite a decrease in orders.

Mapei Ltd. is one of the most significant players in the market for the manufacture and distribution of construction materials in Hungary. It was established in 1991 as a subsidiary of Mapei S.p.A., founded by the Austrian company Mapei GmbH. The company currently employs 247 people and produces more than 100,000 tons of products annually at its 15,000-square-meter factory in Sóskút, southwest of Budapest.