Booming Construction Sector Is a Major Force Driving the Germany Plastic Market

Germany Plastic Market Data Review
The Stagnant Growth in Multiple End Use Industries Such as Construction and Automotive Amid the Pandemic Further Hampered the Demand for Plastic Raw Materials.

The plastic raw material market in Germany stood at US$ 14,094.3 million in 2020. The construction sector in Germany is one of the highest plastic raw materials using sector. A wide range of plastic raw materials such as polyurethane, poly vinyl chloride, high density polyethylene, and polypropylene find their extensive use in the country’s construction sector. From flooring to pipes and insulation, plastic raw materials are used in several such construction applications. The construction sector in Germany is exhibiting tremendous growth and this is stimulating the market’s growth. For instance, as per the December 2021 report by Industry Europe, the construction sector in Germany will be on a progressive track and expected to bring in sales of USD 173 billion in 2022, increasing 5.5% in 2021. The high order backlog in 2021 will contribute to increasing the sales in 2022 which will be significantly higher than the sales achieved in 2021.

The country is home to almost all the popular plastic raw materials present globally. Polyurethane, polypropylene, high density polyethylene, and polycarbonate are some of the widely used plastic raw materials in the country. Polyurethane is among the highly used plastic material in the country. This raw material comes with superior properties such as wear and impact resistance, robust bonding properties, lightweight and high load bearing capacity, making it suitable for use in several construction activities. Polyurethane is an integral element in multiple types of high efficiency insulation materials, adhesives, and sealants used in building construction. Polypropylene and high-density polyethylene are the other two commonly utilized plastic raw materials in the country’s numerous construction activities such as films and sheets used in insulating building wraps, moisture barrier membrane, plastic parts involved in piping, and industrial tapes and adhesives.

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Germany is the leading construction market in Europe that drives the higher utilization of a wide spectrum of plastic raw materials. From polyurethane to poly vinyl chloride, and high-density polyethylene, the country uses such high-performance plastic raw material in several construction activities such as roofing, flooring, wall insulation, plastic pipes in building piping systems, doors, and numerous other applications. The construction sector in Germany is booming owing to factors such as increasing population and a favourable economic environment and this is expected to further enhance the demand for plastic raw materials in the country. As per the data by Germany Trade & Invest, the construction investment in Germany has surged in the current times and this trend is expected to continue in the foreseeable future. The January 2022 report by Germany Trade & Invest states that the home and building sector in Germany recorded significant growth in 2021 with turnover increasing 5.7% to USD 73.84 billion. The turnover is expected to reach USD 80.27 for the year ahead. The year ahead is projected to be defined by modification in non-residential building land and housing demand owing to the new conditions of work from home. Such huge progress in the country’s construction sector is projected to bolster the demand for plastic raw materials in the forthcoming years.

The COVID-19 had a negative impact on the market as disturbances in the supply chain and raw material procurement affected the business ecosystem. The overall imports of plastic raw materials by volume stood at 4878.6 thousand metric tons in 2020 compared to 5743 metric tons in 2019. Furthermore, the stagnant growth in multiple end use industries such as construction and automotive amid the pandemic further hampered the demand for plastic raw materials.

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Plastic Raw Material Market in Germany Drivers:

Increasing growth in residential building is driving the demand for plastic raw materials

The residential building construction is on the rise in the last few years in Germany. Factors like population growth and a robust economic environment have catapulted the demand for residential building construction in the country which in turn is driving the demand for plastic raw materials. As per the December 2021 report by Industry Europe, the sales in the construction sector in Germany will surge in 2022 with maximum growth is projected to be led by the robust performance by the residential construction sector in the country. The residential segment will remain a pillar of the country’s construction sector during the Corona Year. The report predicts that the sales from the residential sector to jump by 7% to USD 67.98 billion, up from USD 63.51 billion in 2021. Such massive growth in the country’s residential building sector is driving the demand for plastic raw materials in the country.

R&D Investment:

Product innovation and incorporation of new technology help in augmenting the market’s growth. The market players are continuously increasing their investment and plant setup activities regarding the higher production of plastic raw materials in Germany. During the period of 2016-2020, the market players invested in multiple plant openings and product launches, and the same trend is projected to continue in the coming years as well. In May 2021, LyondellBasell announced the commercial production of plastics from raw materials derived plastic waste at its site in Germany. This initiative allowed the company to expand its sustainable product development portfolio in Germany.

The Major Players in this Market Include

The major companies in the plastic raw material market in Germany include Dow Chemical Co., Sabic Deutschland GmbH & Co., LyondellBasell Industries, Arkema GmbH, Eastman Chemical Co., Westlake Chemical Corporation, Lanxess Chemical Co, Celanese Chemical Europe GmbH, Avient Corporation, Solvay GmbH, Others.

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