Brazil Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Brazil Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Brazil Adhesives Market is projected to register a CAGR of 5.30%

Key Highlights

• Largest Segment by End User Industry - Packaging : The packaging end-user industry holds the largest market share owing to its widespread applications of adhesives, including labels, tapes, carton sealing, and joining.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace industry is expected to register the fastest growth in the market owing to the rapid expansion of general and civil aviation in the domestic market.
• Largest Segment by Technology - Water-borne : Water-borne technology, an environmentally friendly and economically viable solution, holds the largest technological market share due to its well-recognized usage in food packaging applications through emulsion and dispersion systems.
• Largest Segment by Resin - Acrylic : The acrylic-based adhesive segment holds the highest market share owing to its pressure-sensitive applications in packaging, construction, and healthcare end-user industries.

Key Market TrendsPackaging is the largest segment by End User Industry.

• Brazil is the highest consumption country for adhesives in South America. Packaging, construction, and other sectors rely heavily on adhesives. Volkswagen, Golabalpack, and MPD are among the country's top adhesive consumers. Packaging is the most important end-user industry for adhesives, accounting for USD 614.4 million of the country's overall adhesives market. Top water-based technological adhesives are commonly used in labeling applications in the packaging sector to produce a bind between plastic, metal, and paper substrates. Water-borne adhesives are the least expensive of all forms of adhesives, costing half as much.
• Brazil's demand for construction adhesives and sealants is directly dependent on the construction activities in the country. The slow recovery from the 2015 recession and uncertainty in the country's macroeconomic policy framework restricted construction activities in Brazil till 2019. Brazil's building and construction industry registered a Y-o-Y growth of 2% in Q2 2019 because of strong demand from the civil construction sector. This growth came after 20 quarters of continuous decline.
• In 2022, the growth was expected to decline from 10.99% in 2021 to 5.8% because of rising raw material prices. This has significantly increased the overall construction cost in Brazil and resulted in construction delays. The Brazilian government's mortgage subsidy, which has lowered the housing interest rates from 8.16% to 7.66% for low-budget homes, is expected to cushion the impact of raw material price hikes. All such factors are expected to boost the demand for adhesives across the country over the forecast period.

Competitive Landscape

The Brazil Adhesives Market is fragmented, with the top five companies occupying 24.70%. The major players in this market are 3M, Arkema Group, AVERY DENNISON CORPORATION, H.B. Fuller Company and Henkel AG & Co. KGaA (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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