The Germany construction chemicals market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to growing construction activities in the country during the forecast period.
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The demand for German constructions chemicals market has been rising owing to the revolutionary developments in the constructions industry. The skyrocketing progress in the way builders, architects, and real-estate specialists look at the constructions industry is a trend that is estimated to sustain for a longer duration of time. Construction chemical refers to the chemicals which offer an extra layer of protection of buildings and houses, thus, protecting them from adverse climatic elements. This factor has come to play a crucial role in the growth of the market for constructions chemicals and is anticipated to reap in commendable revenues over the coming years. Furthermore, constructions chemicals are also added to the aesthetics of buildings which is anticipated to drive the market. Investments in the constructions industry have been rising by leaps and bounds which has given an impetus to the growth of several subsidiary industries. As constructions chemicals become an important raw material used in the construction process, the demand for these chemicals is projected to surge in the near future.
The Covid-19 pandemic had an adverse impact on the German constructions chemicals market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing disposable income and growing public expenditure on infrastructure is expected to drive the market during the forecast period.
- Increasing migration of people into the country is stimulating the demand for new residential construction, thereby fueling the growth of construction chemicals market in the country.
- Rising demand for infrastructure and housing investments in the country leading to high capacity utilization, with increased competition for sub-suppliers and faces workforce shortness is likely to propel the market in coming years.
- R&D investment and technological advancement in the German constructions chemicals market are expected to offer lucrative opportunities for the market players.
Market Segment insights
The concrete admixture segment is projected to constitute a large market share
Based on product type, the German constructions chemicals market is segregated into concrete admixture, surface treatments, repair and rehabilitation, protective coatings, industrial flooring, water proofing, adhesives, sealants, grouts and anchors, and cement grinding aids. The concrete admixture segment is expected to account for a key share of the market during the forecast period owing to its applications in construction industry; however, grouts and anchors segment is anticipated to expand at a rapid pace during the forecast period.
The residential segment is expected to register a substantial CAGR
Based on end-user industry, the market is divided into commercial, industrial, infrastructure, and residential. The residential segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to rising demand for apartments, villas, penthouses, and bungalows in gated communities, with world-class designs and amenities and rising middle-class population, coupled with increasing disposable incomes, thereby, increasing the use of construction chemicals in the segment. Furthermore, government initiative to provide affordable housing to the urban and rural poor is projected to propel the market in coming years.
Competitive Landscape
Key players competing in the Germany Construction Chemicals market include RPM International Inc.; Sika AG; BASF SE; LafargeHolcim; and MAPEI SpA.
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