San Francisco, 26
February, Latin America Adhesives Market
Size, Share & Trends Analysis Report By Product (Reactive, Natural,
Water-based, Hot-melt, Solvent-based), By Region (Argentina, Colombia, Brazil),
And Segment Forecasts, 2019 – 2025.
The Latin America adhesives market size is expected to reach
USD 3.11 billion by 2025, according to a new report by Grand View Research,
Inc. The market is projected to witness a CAGR of 5.8% over the forecast
period. Rapidly expanding end-use industries including packaging, automotive, transportation,
textiles, and footwear along with increasing construction spending in Brazil
are expected to propel the product penetration in Latin America. Different
forms of adhesives are used in the construction applications including
flooring, insulation, panel and partitions, and roofing.
Strong economic growth and
rising population in this region have fueled the product demand in
infrastructure development sector, thereby driving the market. Moreover, recent
trend indicates that many Original Equipment Manufacturers (OEMs) and end-users
in industries including automotive and aircraft manufacturing prefer
high-performing adhesives over conventional methods, such as welding and
mechanical fasteners, to join different metal parts or substrates. This is also
expected to boost the product demand over the forecast period.
Increasing environmental
concerns have forced companies to focus on providing adhesives that are
non-ozone depleting and free from Volatile Organic Compounds (VOCs), solvent,
and toxins. Water-based products are witnessing a huge demand due to their
excellent inherent characteristics, such as high performance and applications
in diverse industries including construction, packaging, and pharmaceutical.
The application scope for water-based and natural adhesives, followed by
hot-melt solutions, in electrical and electronics packaging industries is
constantly increasing.
Colombia is estimated to expand
at a significant CAGR during the forecast period. Rising demand from the
biomedical, healthcare, and plywood industrial applications is expected to
propel the market growth in the country. Furthermore, rising demand for
lightweight aluminum parts, which are generally bonded using adhesives, is also
propelling product usage per vehicle. While packaging will remain the leading
outlet for product utilization, the construction segment is anticipated to
capture a major share.
Key companies focus on
expansion and acquisition activities to gain a competitive advantage over
others. For instance, Sika Automotive opened a new manufacturing facility in
Sao Paulo, Brazil. The company is expanding its product portfolio and
production capacity to cater to the escalating demand from the automobile
sector.
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Report On Latin America Adhesives Market Analysis:
Further key findings from the study suggest:
·
In terms of revenue,
water-based products are anticipated to witness the fastest CAGR of 6.6% due to
their improved moisture resistance as compared to other adhesives
·
In terms of volume, hot-melt
adhesives led the market and acquired a market share of 15.5% in the past due
to their eco-friendly nature and odorless bonding solutions
·
Colombia is predicted to
register a strong CAGR of 6.2%, in terms of volume, owing to high demand from
the biomedical, healthcare, and plywood industrial applications
·
Henkel Adhesives, 3M Company,
BASF SE, The Dow Chemical Company, Bostik SA, Sika Corp., and BASF SE are the
top companies in Latin America adhesives market
·
Most of them focus on business
expansion through product innovation; for instance, recently, Ashland launched
two new solvent-based pressure sensitive adhesives (PSA)
Grand View Research has
segmented the Latin America adhesives market on the basis of product and
region:
Latin America Adhesives Product
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Natural
·
Water-based
·
Hot-melt
·
Reactive
·
Solvent-based
·
Emulsion
Latin America Adhesives
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Latin America
o
Brazil
o
Colombia
o
Argentina
Browse Press
Release of this Report:
https://www.grandviewresearch.com/press-release/latin-america-adhesives-market-analysis
https://www.grandviewresearch.com/press-release/latin-america-adhesives-market-analysis
About Grand View Research
Grand View
Research provides syndicated as well as customized research reports and
consulting services on 46 industries across 25 major countries worldwide. This
U.S.-based market research and consulting company is registered in California
and headquartered in San Francisco. Comprising over 425 analysts and
consultants, the company adds 1200+ market research reports to its extensive
database each year. Supported by an interactive market intelligence platform,
the team at Grand View Research guides Fortune 500 companies and prominent
academic institutes in comprehending the global and regional business
environment and carefully identifying future opportunities.
For more
information: www.grandviewresearch.com/
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