“South America Adhesives & Sealants Market Share – Growth, Trends, And Forecast (2019 – 2024)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
Major Companies Include are:
Sika Ag, Henkel, 3m, Dowdupont, H.B. Fuller Co., Huntsman Corp., Arkema Group (Bostik), And Ashland others.
The South America adhesives and sealants market is expected to register a CAGR of 4.03% and 6.56% respectively during the forecast period of 2018 – 2023. Brazil is estimated to lead the market due to the increasing demand for waterborne adhesives and government regulations regarding environment-friendly products.
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Accelerating Growth in Automotive Industry
The automotive industry is one of the fastest growing industries in South America. With growing population and increasing purchasing power, the demand for automotive is increasing in the region. Over the past few years, adhesives have become a prime technology component of the automotive applications. Unlike traditional manufacturing methods, adhesives offer the advantage of flexibility during the production process of automotive components, which is fuelling the demand for adhesives in the automotive industry. The focus on minimizing carbon emission and enhancing fuel economy by way of reducing the weight of a vehicle has given adhesives the impetus as a bonding material for the manufacturing of automobiles. Adhesives, especially PSAs, are continuously replacing mechanical fasteners, resulting in the rapid growth in the automotive industry. This is set to boost the demand for PSAs, in turn, propelling the South American adhesives and sealants market.
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Technological Advancement Fuelling Demand for Waterborne Adhesive
The waterborne adhesives technology has been developed as a result of growing regulations, by environmental agencies, on adhesive manufacturers to produce eco-friendly substitutes of solvent-borne adhesives, in order to reduce VOC emission. Currently, there is a high level of development activity for water-borne adhesives in South America. This has expanded the application base and end-user markets for water-based adhesives, like automotive, construction, shoe, woodwork & furniture, mattress, and paper & packaging industries, among others. With growing population and economic developments in the region, the purchasing power of the consumer is increasing. Also, government regulations for eco-friendly products is making this region an area of immense potential and opportunities for the adhesives and sealants market.
Brazil Dominates the Market
By consumption, Brazil led the market with a share of 56% of South American adhesive and sealants market in 2017. With increased demand for adhesives and sealants in Brazil, global players are keen to acquire local players to gain market share, showing a higher market potential for adhesives and sealants in the future. The Brazilian government is investing heavily in the R&D sector, making Brazil the technological center of South America, and its R&D is gaining global recognition. Automotive industry market has shown improvement in sales and production. The packaging and furniture industries have seen significant growth and are expected to increase. The adhesives and sealants market is expected to grow moderately in Brazil, owing to expected growth in consumer income and increase in demand of adhesive products in the above industries.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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