Germany Construction Chemicals Market - Segmented by Product Type, and End-user - Growth, Trends, and Forecast (2018 - 2023)
Germany construction chemicals market is expected to register a CAGR of 6.45% in terms of revenue during the forecast period, 2018 to 2023. Germany accounted for the largest market accounting for around 18% of the regional market in 2017. Increasing Construction Activities in the country are expected to drive the market in the forecast period.
Increasing Construction Activities in Germany Driving the market
The construction industry in Germany is growing at a great pace, owing to the public and private sector investments in infrastructure, residential and industrial construction projects, and energy. The residential construction is expected to grow due to the rapid urbanization, population growth, and to balance the demand and supply for housing. Additionally, the increasing need for schools, government offices, and healthcare facilities is expected to further boost the construction industry in the country. The growth in construction is expected to boost the construction chemicals market in the country during the forecast period.
Concrete Admixtures the Dominant Product Type
Concrete admixtures are the ingredients, which are added to the concrete mixture before or during mixing. Concrete admixtures reduce the concrete construction cost, by modifying the properties of hardened concrete, ensuring better quality during mixing, transporting, placing, and curing, thus, overcoming emergencies during concrete operations. Based on function, these chemicals are categorized into water reducing, retarding, accelerating & super-plasticizing, and viscosity modifier, amongst others. Demand for concrete admixtures is increasing at a rapid rate.
Major Players: 3M , Aldo Co., Albemarle Corporation, BASF SE and Bostik Inc, among others.
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