The rise in energy prices could make construction in Germany more expensive again. Matthias Frederichs, chief executive officer of the Building Materials Association BBS, told the editorial network Germany that “rising energy prices can also put construction material prices back under pressure”.
While many companies are still shielded by long‑term supply contracts, the key question is how long the current price level for gas and oil will last. Frederichs added, “The construction outlook is only beginning to recover slightly after the massive downturn of recent years. New energy‑driven price spikes could quickly undermine this stabilization”. Whether this will happen now depends on how long the conflict continues and on its effects on energy markets.
Tim‑Oliver Müller, CEO of the Construction Industry Association HDB, said that a blockade of the Strait of Hormuz could indirectly affect the raw‑material supply chain for the construction industry. He cited asphalt production, which requires bitumen, as an example.
Müller noted that supply chains have become more diversified since the Ukraine war, and he therefore does not expect immediate restrictions on material availability. “Nonetheless, the worldwide price hikes for crude oil we are currently observing could also lead to cost increases domestically” he said.
