Materials that are used to unite two surfaces or prevent liquids from leaking through them include adhesives and sealants. Generally, sealants are used to plug gaps and prevent liquids from passing through, while adhesives are used to fuse two surfaces together. Among the many industries that rely significantly on them are electronics, automotive, aerospace, and construction. Among each product type’s unique attributes are adhesive strength, drying time, and resistance to moisture and temperature.
According to SPER market research, ‘Latin America Adhesives and Sealants Market Size- By Adhesive Type, By Sealant Type, By Technology, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Latin America Adhesives and Sealants Market is predicted to reach USD 11.46 billion by 2033 with a CAGR of 5.96%.
Drivers: The Latin American market is experiencing enormous expansion, mostly due to the construction and automobile industries. Customers’ increased purchasing power as a result of the positive trends in the region’s economic recovery has contributed to the expansion of the Latin American market.
Moreover, developments in polyurethane sealants are driving growth in the adhesives and sealants market in Latin America. Manufacturers are increasing their revenue streams by utilizing polyurethane sealants in commercial production, transportation, and construction. They are putting more money into research to develop complex formulations that are necessary to improve the rheology of polyurethane sealants, and they are putting more effort into lowering the isocyanate content to facilitate simpler application.
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Challenges: A multitude of significant challenges face the Latin American adhesives and sealants business. One of the primary challenges is the unpredictable economic climate in the area, which affects consumer spending power and investment choices. This volatility causes demand for adhesives and sealants to vary across various industries, which makes long-term planning and forecasting challenging for businesses in the sector. Because Latin American countries have different standards and complex rules, multinational firms looking to establish a presence may also encounter operational difficulties and admission restrictions.
Impact of COVID-19 on Latin America Adhesives and Sealants Market
The COVID-19 epidemic had a major impact on Latin America’s glue and sealant sector. There was a slowdown in demand for adhesives and sealants across a wide range of industries, including automotive, construction, packaging, and others, as a result of the numerous lockdowns and restrictions in the area that affected industrial activities and construction projects. Further impeding market expansion was supply chain instability combined with decreased consumer investment and expenditure during the pandemic. Production timetables and distribution routes were impacted because local businesses had to adopt strict health regulations and adjust to working remotely.
Additionally, some of the market key players are; 3M, Ashland, Avery Dennison Corporation, BASF SE, Beardow Adams, Bostik, Dow, Eastman Chemical Company.
Our in-depth analysis of the Latin America Adhesives and Sealants Market includes the following segments:
By Adhesive Type:
- Acrylic
- PVA
- Polyurethanes
- Styrenic Block Copolymers
- Epoxy
- EVA
- Others
By Sealant Type:
- Acrylic
- Silicone
- Polyurethane
- Butyl
- Others
By Technology:
- Water-Based
- Solvent-Based
- Hot Melt
- Reactive
- Others
By Application:
- Paperboard and Packaging
- Building and Construction
- Transportation
- Leather and Footwear
- Furniture
- Others
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