Dublin — Euronext Dublin and the Irish Industrial Market

Euronext Dublin is home to three of the world's most successful construction and industrial companies — CRH (world's largest building materials), Smurfit WestRock (world's largest paper-based packaging) and Kingspan Group (world's leading insulation manufacturer). All three are driven by the Global Manufacturing PMI — and all three have delivered exceptional long-term compounding returns that are amplified at PMI cycle lows.

Ireland's World-Class Industrials

Ireland's stock market punches far above its weight. A country of 5 million people has produced three global industrial champions that each dominate their respective markets: CRH is the world's largest building materials company, Smurfit WestRock is the world's largest paper-based packaging company, and Kingspan is the world's leading insulated panel and insulation manufacturer.

All three are driven by the Global Manufacturing PMI because construction activity and industrial packaging demand both correlate strongly with global industrial confidence. When PMI falls below 49, new construction projects are deferred and packaging volumes fall; when PMI recovers above 53.5, all three companies see simultaneous demand acceleration.

CRH: +46% in 13 Months

CRH operates in 30 countries and produces everything from aggregates and cement to asphalt, architectural products and distribution services. The 2015–16 PMI cycle returned +46% in 13 months from a base of exceptional long-term growth.

Smurfit WestRock: +43% in 13 Months

Smurfit WestRock (formerly Smurfit Kappa before its merger with WestRock in 2024) produces the corrugated cardboard boxes that move almost all of the world's e-commerce goods. The PMI cycle returned +43% in 13 months, driven by the recovery in industrial packaging volumes after the 2015 slowdown.

Kingspan: +58% in 13 Months

Kingspan manufactures the insulated sandwich panels used in commercial buildings, cold storage facilities and data centres — plus insulation systems for the residential retrofit market. The PMI cycle returned +58% in 13 months — the highest return of any Dublin stock in the Signycle universe.