The Germany sealants market is estimated to record a CAGR of 7.12% in terms of revenue, and 6.06% in terms of volume, during the forecast period. The country’s market growth is primarily propelled by factors, like the rapidly augmenting construction industry, the growing office furniture sector, and the developing electrical and electronic division. The base year considered for the market study is 2020, and the forecast years are from 2021 to 2025.

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Germany leads the European automotive market, and significantly contributes to one-third of the region’s overall automobile production. As one of the major manufacturing bases for the aircraft industry, Germany harbors manufacturers from various segments, including, engine producers, material and component suppliers, as well as whole system integrators. However, in 2018, Germany’s automotive production observed a decline of more than 9%. Germany also accounts for nearly 30% of the total passenger car manufacturing across Europe. Besides, at least 21 of the top-100 automotive suppliers, globally, are German companies.

On the other hand, Germany’s automotive production has been observing a sluggish trend over recent years, considering the high cost, and production shift to other countries, such as China. The country’s new car market exceeded three million vehicles. But, owing to a contraction within the market, due to the introduction of new WLTP emission control regulation, various manufacturers could not register new vehicles. Therefore, such factors are set to influence market growth over the forecast period.

BASF SE is among the leading chemical companies, worldwide. Its product portfolio includes performance products, agricultural solutions, oil and gas, chemicals, and functional material and solutions. The company is headquartered in Germany, and is operational across the Americas, Europe, and the Middle East & Africa.

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