PUBLISHER: Grand View Research | PRODUCT CODE: 1376210
PUBLISHER: Grand View Research | PRODUCT CODE: 1376210
The Latin America adhesives and sealants market size is expected to reach USD 9.41 billion by 2030, registering a CAGR of 5.7% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Growth of major end use industries such as automotive and construction, mainly in Brazil and Argentina is expected to boost the demand for adhesives and sealants over the forecast period. In addition, increasing market penetration of adhesives in medical industry is also expected to drive have positive impact on demand over the next six years. However, volatility in raw material prices coupled with growing environmental concerns is expected to be a key challenge for market participants.
Water-based adhesives emerged as the leading technology used in Latin America and accounted for 48.3% of total market volume in 2013. Regional market for solvent-based adhesives technology is expected to reach USD 225.4 million by 2020, growing at an estimated CAGR of 4% from 2014 to 2020.