Market Trends of germany sealants Industry
This section covers the major market trends shaping the Germany Sealants Market according to our research experts:
Building and Construction is the largest End User Industry
- The German sealants market is majorly driven by the construction industry, followed by other end-user industries due to diverse applications of sealants in building construction, such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing. The German construction industry obtained nearly 5.9% of the country’s GDP, which will propel the sealants demand in the coming years. The increasing growth of residential construction projects due to the shortage in housing facilities and ongoing renovating works will augment the sealants demand in Germany during the forecast period.
- A variety of sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting materials. They are used for sealing sensors and cables, etc. The German electronics market is the sixth largest in the world, generating 2.6% (2021) of revenue share, which is likely to grow in the upcoming years. This, in terms, will foster the demand for sealants in the other end-user segment.
- Germany has achieved significant development in the healthcare and automotive industries over the decades. Sealants are used in applications in healthcare, such as assembling and sealing medical device parts. The automotive industry exhibits significant applicability of sealants to various substrates, such as glass, metal, plastic, and painted surfaces. These are mostly used in engines and car gaskets. Germany has registered about 23% of the market share in terms of the production of premium cars in 2021. German automotive and OEMs focus on manufacturing electric vehicles to reduce carbon emissions and maintain vehicle weight to meet the industry standard. These factors will augment automotive and OEM production in the near future, which gradually influences the demand.
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