Albany, NY (PRWEB) October 07, 2013
According to a new market report published by Transparency Market Research "Latin America (Brazil, Mexico, Argentina) Adhesives and Sealants (Acrylic, PVA, PU, Epoxy, EVA, Silicones) Market for Construction, Automotive, Packaging, Assembly, Pressure Sensitive Tapes and Other Applications - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019". The Latin America adhesives market was valued at USD 1,404 million in 2012 and expected to reach USD 2,136.1 million by 2019, growing at a CAGR of 6.2% from 2013 to 2019. The Latin America sealants market was valued at USD 214.2 million in 2012 and is expected to reach USD 327.3 million by 2019 growing at a CAGR of 6.3% from 2013 to 2019.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/latin-america-adhesives-sealants.html.
Growth of major end-use industries such as construction and automotive mainly in the emerging economies of Brazil and Argentina is expected to boost the market for adhesives and sealants over the next six years. However, the volatility in raw material prices coupled with environmental concerns regarding the use of synthetic (petroleum-based) adhesives and sealants is expected to hinder market growth over the forecast period. In order to reduce reliance on synthetic adhesives and sealants, major manufacturers such as The Dow Chemical Company, Henkel and Danimer Scientific LLC among others have been shifting their focus towards developing bio-based adhesives and sealants.
Acrylic and polyvinyl acetate (PVA) based adhesives together accounted for over 50% of the total market demand in 2012. Key adhesives application industries include electronics, automobiles, construction and packaging among others. Owing to their fast setting properties Ethyl Vinyl Acetate (EVA) based adhesives are expected to be the fastest growing product segment at an estimated CAGR of 5.6% from 2013 to 2019. Sealants market was dominated by silicone based sealants, accounting for over 30% of the total regional demand in 2012. Growing automotive industry in Brazil is expected to fuel the demand for sealants in the region over the forecast period.
Pressure sensitive applications (PSA) emerged as the largest consumer of adhesives with 27% of the Latin America market in 2012. The furniture industry is expected to be the fastest growing market for adhesives at an estimated CAGR of 6.1% over the forecast period, owing to growing disposable income in the region. On the other hand, automotive industry is expected to be the fastest growing market for sealants, with demand estimated to grow at a CAGR of 5.7% from 2013 to 2019 in Latin America. Construction industry dominated the sealants market in the region with 28% of the total demand in 2012. Growing foreign investments into Brazil have spurred growth in infrastructure development in the Latin American countries. Upcoming events such as the FIFA World Cup 2014 and Olympic Games in 2016 are expected to ensure continuous demand for sealants from the construction industry in Brazil.
Brazil dominated the adhesives and the sealants market with over 50% and 75 % of the Latin America market, respectively in 2012. Along with being the largest market, Brazil is also expected to be the fastest growing market at an estimated CAGR of 5.5% and 5.1% over the forecast period, for adhesives and sealants, respectively from 2013 to 2019. Other Latin American countries such as Mexico and Argentina are expected to witness moderate growth rate in the near future.
Growing demand from key end-use applications such as construction and automotive industries is expected to boost the demand in Latin America. These industrial sectors are witnessing rapid growth in Brazil, Chile, Peru, Argentina, Colombia and other regions, thus fuelling the demand for adhesives and sealants. However, growing environmental concerns and volatile raw material prices of crude oil are expected to hinder market growth. Bio-based adhesives and sealants are expected to catch up in the near future owing to their eco-friendly characteristics.
This report gives a detailed description of the Latin American adhesives and sealants market based on volume share (kilo tons) and revenue (USD million) for the period 2012 to 2019. The report highlights the factors contributing towards the growth of the market and the restraints that impede the market. Detailed forecasts for the years 2013-2019 for both adhesives and sealants have been given separately, for better understanding of the individual market scenario.
Global Adhesives and Sealants Market: http://www.transparencymarketresearch.com/adhesives-sealants-market.html
The adhesives and sealants market is described with respect to their various segments along with the opportunities that are expected in the coming six years. For geographic analysis, the Latin American market has been segmented into countries such as Brazil, Mexico, Argentina and Rest of Latin America - The adhesives market has been segmented based on the following product types - PVA (polyvinyl acetate), polyurethanes, styrenic block, epoxy, EVA and others. Similarly, the sealants market has been segmented on the basis of product types comprising silicones, polyurethanes, acrylic, polyvinyl acetate and others including polysulfide and EVA.
The study also analyses market attractiveness for all product segments of adhesives and sealants with the help of the market attractiveness tool. The study segments the market on an application basis, provides forecasts and estimates for each application segment in terms of revenue and volume over the forecast period from 2013 to 2019.