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

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

The Brazil Sealants Market is projected to register a CAGR of 6.13%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In Brazil, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, weather insulation, and others.
• Fastest-growing Segment by End User Industry - Building and Construction : The building and construction industry is projected to witness the fastest growth in the market owing to the increasing demand for residential and commercial construction in the country.
• Largest Segment by Resin - Silicone : Silicone sealant is the major resin-based sealant owing to its largest application share in the building and construction industry for both interior and exterior applications.
• Fastest-growing Segment by Resin - Silicone : Due to its excellent tear and abrasion resistance and wide usage in building and construction, silicone resin is likely to witness the fastest growth in the coming years.

Key Market TrendsBuilding and Construction is the largest segment by End User Industry.

• Brazil's sealants market is dominated by the construction industry, followed by the automotive industry due to diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction industry plays a vital role in the country’s economy. In 2019, the construction industry counted for 3.2% of the nation’s GDP. However, construction activities decreased in 2020 due to COVID-19 restrictions and scarcity of raw materials, which was partially restored in 2021, thus, proliferating the sealants demand across the country.
• Sealants have considerable applications in the automotive industry due to their unique applicability to bind with various substrates such as glass, metal, plastic, and painted surfaces. Brazil has a strong presence of parts and components manufacturers for the automotive industry. In 2021, vehicle production increased by 11.2%, and the trend will continue in the upcoming future, which will subsequently boost the sealants demand.
• The healthcare industry is mostly used sealants for assembling and sealing medical device parts. Medical-grade sealants have imposed weather-proofing, heat resistance, and anti-aging properties on the applied surfaces. The medical device market in Brazil is growing slowly. Therefore, the demand for sealants is likely to account for sluggish growth in the upcoming years.

Competitive Landscape

The Brazil Sealants Market is fragmented, with the top five companies occupying 17.17%. The major players in this market are 3M, Dow, Henkel AG & Co. KGaA, Sika AG and Soudal Holding N.V. (sorted alphabetically).

Additional Benefits:

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

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