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Investing in Irish Construction and Materials

Shane Carberry

Shane Carberry

Head of Industrials Research

Shane has been working in Equity Research on the building materials team at Goodbody since completing his MSc in Quantitative Finance 2018. Shane led the expansion of Goodbody’s Irish and UK housebuilding coverage and is now a prominent voice in the space. He has expanded his coverage into the broader building materials sector and is now Head of the team. He is based in our London office and is responsible for the coverage of 15+ companies, including three of Goodbody’s key corporate broking clients (Kingspan, Grafton Group, Cairn Homes).

Capital is flowing to Ireland and for good reason


Ireland’s construction sector is entering a multi-year construction ‘super cycle’, underpinned by Ireland’s position as one of Europe’s strongest economies, structural housing undersupply and unprecedented funding for infrastructure. Our latest report, Investing in Irish Construction and Materials report indicates that the Irish construction sector has momentum, with Euroconstruct forecasting a 5% output growth in 2026 for the industry, twice the Western European average.

  • Irish homebuilders like Cairn Homes and Glenveagh Properties lead new housing, aligning their landbanks and delivery capacity with persistent demand.
  • Suppliers and distributors are expanding as well: Grafton Group has reinforced its leading Irish presence via organic and inorganic investment, and Howden Joinery is investing in Ireland to accelerate growth beyond its UK base.
  • In heavy materials, Breedon Group is targeting Ireland’s non-residential and infrastructure projects.
  • Even homegrown but now global giants Kingspan and CRH report strong growth from their Irish operations, underscoring Ireland’s quality as a market.

Across housing, RMI (repair, maintenance & improvement), and infrastructure, companies are looking at Ireland with growing conviction – a clear signal of where they see sustainable growth ahead.

From fourth to fifth gear?


Despite this progress – especially in housing – now is not the time to ease off the accelerator. Ireland needs more investment in critical infrastructure, notably water and electricity grids, to unlock the next phase of expansion. Bolstering these networks will not only support Ireland’s data centre and AI sectors, but also drive broader, more durable construction growth well into the next decade.

Why Irish construction matters now


While some challenges remain, Ireland’s construction market stands out for its strength, visibility, and long-term potential. In short, exposure to Irish construction is becoming hard to ignore and should be a core part of any construction-focused portfolio.

Download the full Investing in Irish Construction and Materials report.

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