Latin America Adhesives And Sealants Market Size, Share, & Trends Analysis Report By Product, By Technology, By Application, By Region, And Segment Forecasts, 2023 - 2030

Latin America Adhesives And Sealants Market Size, Share, & Trends Analysis Report By Product, By Technology, By Application, By Region, And Segment Forecasts, 2023 - 2030

Latin America Adhesives And Sealants Market Growth & Trends

The Latin America adhesives and sealants market size is expected to reach USD 9.41 billion by 2030, registering a CAGR of 5.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growth of major end use industries such as automotive and construction, mainly in Brazil and Argentina is expected to boost the demand for adhesives and sealants over the forecast period. In addition, increasing market penetration of adhesives in medical industry is also expected to drive have positive impact on demand over the next six years. However, volatility in raw material prices coupled with growing environmental concerns is expected to be a key challenge for market participants.

Water-based adhesives emerged as the leading technology used in Latin America and accounted for 48.3% of total market volume in 2013. Regional market for solvent-based adhesives technology is expected to reach USD 225.4 million by 2020, growing at an estimated CAGR of 4% from 2014 to 2020.

Latin America Adhesives And Sealants Market Report Highlights

• Acrylic dominated the market with a revenue share of 30.71% in 2022. Latin America has been experiencing growth in various industries, including automotive, construction, electronics, and packaging.
• Water based adhesives dominated the market with a revenue share of 35.0% in 2022. These adhesives are used extensively in key end-use industries and as these industries expand, the demand for reliable and high-performance adhesives tends to increase.
• Paper & packaging dominated the market with a revenue share of around 29.62% in 2022. Adhesives are crucial in the construction of paperboard cartons and boxes.
• Brazil dominated the Latin America adhesives market with a revenue share of 38.65% in 2022. As Brazil's industrial sector grows, so does the demand for adhesives.

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