Albany, New York (PRWEB) May 04, 2014
According to a new market report published by Transparency Market Research "Latin America Adhesives and Sealants Market for Building and Construction - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the Latin America adhesives market was valued at USD 154.6 million in 2012 and is expected to reach USD 235.3 million by 2019, growing at a CAGR of 6.2% over the forecast period from 2013 to 2019. The Latin America sealants market was valued at USD 53.49 million in 2012 and is expected to reach USD 79.02 million by 2019 growing at a CAGR of 5.8% from 2013 to 2019.
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Growing economy and government expenditure on infrastructure development in emerging economies such as Brazil, Colombia, Mexico and Argentina is expected to boost the market for adhesives and sealants during the forecast period. However the volatile raw material prices coupled with environmental concerns regarding the use of synthetic (petroleum-based) adhesives and sealants are expected to hinder the 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 more than 47% of the total Latin America adhesives market for building and construction in 2012. These adhesives find wide applications in construction industry for roofing, paneling, laminates, structural as well as non-structural assemblies among others. Owing to its fast setting properties, acrylic-based adhesives is expected to be the fastest growing segment of the market with an estimated CAGR of 6.3% from 2013 to 2019. Acrylic-based sealants dominated the overall sealants market in 2012 and accounted for 25% of the market share.
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Water proofing systems emerged as the largest application segment of adhesives as well as sealantsand accounted for nearly 34% of the overall market in 2012. Itis also expected to be the fastest growing market for adhesives and sealantsat an estimated CAGR of 5.8% and 5.2% respectively, from 2013 to 2019.Growingforeign investments into Brazil have spurred the growth in infrastructure development in the Latin Americancountries. Upcomingevents such as the FIFA World Cup 2014 and Olympic Games in 2016 are expected to increase the demand for sealants from construction industry in Brazil.
Brazil dominated the adhesives and the sealants market with over 50% and 74% 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 5.8% and 5.4% 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.
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Some of the key manufacturers of adhesives and sealants include 3M Company, Avery Dennison Corporation, Henkel AG., H.B Fuller Company, BASF SE, Bostik SA, UNISEAL Inc., Ellsworth Adhesives and Dow Chemical Company among others.
The report segments the Latin America adhesives market as,
Adhesives Market: Product Segment Analysis,
Adhesives Market: Application Segment Analysis,
Adhesives Market: Regional Analysis,
The report segments the Latin AmericaSealants market as,
Sealants Market: Product Segment Analysis,
Sealants Market: Application Segment Analysis,
Sealants Market: Regional Analysis,