Germany chemical industry is expected to see a CAGR of 2.1% during the period (2019-2025). The Germany chemical industry has shown potential across the segments, including petrochemicals, basic inorganics, polymers, agrochemicals, cosmetics, pharmaceuticals, and specialties. The significant presence of major automobile companies and the rising packaging industry are some crucial factors contributing to the adoption of chemicals in the country. The major automobile companies operating in the country include Audi AG, BMW AG, Daimler AG, and Volkswagen. Due to the COVID-19 pandemic, these companies have temporarily halted most of its production in Europe. For instance, on 23rd March 2020, Daimler Group decided to halt many production units which will affect Daimler's van, car, and commercial vehicle plants in Europe. With this action, the company is following the recommendations of global, national, and local authorities. This, in turn, is affecting the demand for chemicals in automobile production.

Germany's chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted by the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see the least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.

The major chemical companies in the region include BASF SE, Evonik Industries, and Covestro AG. The international and local production and supply operations of these companies are significantly affected by the COVID-19 pandemic. For instance, on 14th February 2020, BASF SE has been forced to redirect chemical consignment to Europe from China amid the COVID-19 outbreak in the country. BASF joint venture (JV) Shanghai BASF Polyurethane has diverted 3,150 metric tons of toluene diisocyanate (TDI) to Europe. TDI is a raw material significantly used in the automobile and construction sector. Further, lockdown in most of the countries resulted in supply chain disruption which will severely impact the chemical production and supply process of the chemical companies in Germany. 

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the Germany chemical industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of different regions and countries and the effect of COVID-19 on the chemical industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of Germany chemical industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting Germany's chemical industry.
• Insights about market determinants which are stimulating Germany chemical industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.