The Latin America adhesives and sealants market is experiencing positive rates of growth due to a rise in demand from crucial end users including the automotive and construction industries. The major Latin American countries that will benefit the most from this growth are Colombia, Argentina, Brazil, Chile, and Peru.
Transparency Market Research, a market intelligence firm based in the U.S., has recently released a research report titled “Latin America Adhesives And Sealants Market – Industry Analysis, Size, Share, Growth, Trends And Forecast 2013 – 2019”. The report elucidates the key factors that govern the Latin America adhesives and sealants market by including key company profiles and forecast market developments.
The report also discusses the various restraining factors against the Latin America adhesives and sealants market, including the increasing appeals and protests against conventional modes of manufacturing that could threaten the environment. Another factor that could hinder the market is the volatile prices of raw material.
The Latin America adhesives and sealants market’s answer to the restraining factors involves an increasing use of bio-based adhesives and sealants. This provides an eco-friendly solution and could create additional growth in the market.
The report utilizes various segmentation methods to simplify the market’s developments. Of these segments, acrylic-based adhesives were the biggest in terms of consumption and growth. Acrylic-based adhesives held 26.4% of the Latin America adhesives and sealants market in 2012, mostly due to the rapid curation that the adhesive provides.
The Latin America adhesives and sealants market has shown greater preference to the use of acrylic-based sealants. It is the leading segment in the market, followed by silicone-based sealants. The latter is, however, the fastest growing segment. It is expected to grow at a CAGR of 6.2% from 2013 to 2019.
“An overall rise in innovative product development is the key reason for the growth of the silicone-based sealants segment,” a TMR analyst explained.
The key end users of the Latin America adhesives and sealants market, automobiles and construction, make use of the materials provided for lamination of panels, coating, insulation, and flooring.
Developments in manufacturing technologies as well as improving quality of adhesives and sealants offer to increase the scope of use for the market, improving demand and increasing revenue.
A major application segment of the Latin America adhesives and sealants market is cement. The segment held more than 20% of the market in 2012 in both adhesives and sealants.
The fastest growing application segment in the Latin America adhesives and sealants market is expected to be waterproofing systems.
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Brazil has shown exceptional growth rates in the Latin America adhesives and sealants market, primarily due to the increase in construction activities due to the country hosting the Summer Olympics in Rio in 2016 and having hosted the FIFA World Cup in 2014.
This post was originally published on Analytics News