Latin America Sealants and Adhesives Market Report and Forecast 2024-2032

Latin America Sealants and Adhesives Market Outlook

The Latin America sealants and adhesives market attained nearly USD 1.93 billion in 2023. The Latin America sealants and adhesives market is expected to be aided by the steady growth of the global market.

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The global sealants and adhesives industry is expected to witness a steady increase in the forecast period of 2024-2032, growing at a CAGR of 3.7%. By 2026, it is projected to reach USD 74.6 billion.

Globally, packaging, construction, and automotive industries are some of the major end-use sectors for both sealants and adhesives. The rising global population and various government-funded infrastructure projects to meet the needs of the growing urban population are propelling the industry forward. The global construction output is projected to witness a growth of almost 85% from the current production in 2030. By 2030, it is expected to be worth USD 15.5 trillion. This robust rise in the construction industry will aid the growth of the sealants and adhesives industry in the forecast period. The packaging industry, meanwhile, is also witnessing a healthy growth globally due to the rise of e-marketing portals and the increasing consumption of packaged foods. The global adhesives and sealants industries are also finding impetus in the rising demand for lightweight vehicle amidst increasing environmental concerns. The rising preference for lightweight vehicles is especially driving segments like silicone sealants and water-based adhesives as they contribute to lower vehicle weight and the reduction of greenhouse gases production.

Brazil dominates the Latin America sealants and adhesives market. It accounts for over half the regional industry. The country is followed by Colombia and Argentina who also account for significant shares in the regional industry. The industry in Latin America is being aided by the healthy growth of its automobile industry. Brazil is a leading car market in Latin America, accounting for nearly half the vehicle sales in the region. In 2017, the vehicle registrations in the country witnessed an increase of 9.2% as compared to the previous year, with nearly 2.17 million new vehicles being registered in the year. Its emerging electric vehicles industry might act as a catalyst for the sealants and adhesives industry in the country in the coming five years.

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Market Segmentation

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Market Analysis

The Latin America sealants and adhesives market is being driven by the growing end-use sectors like the automobile and construction industry. The rising middle-class population and rapid urbanisation are further aiding the industry by driving the growth of end-use sectors of sealants and adhesives. The construction industry, especially, is finding impetus in the rising urban population and is being supported by governments who are increasing their spending on infrastructural growth. The expansion of urban housing is also propelling the furniture industry forward, which is also a major end-use sector for sealants and adhesives.

The Latin America sealants and adhesives market is being aided by the rising packaging industry in the region. The emerging middle class has led to increasing investment by consumer goods companies in the region, which is furthering the packaging industry in the country. The cosmetics industry, especially, is a major driving factor for the growth of the packaging industry. The Latin America region accounted for 11% of the global cosmetics industry in 2017. Brazil, the leading sealants and adhesives market in Latin America, is also a major cosmetics market in the region. The industry accounts for almost 1.8% of Brazil’s GDP. The region is also witnessing an increased consumption of packaged and frozen foods, further aiding the packaging as well as sealants and adhesives industry.

Competitive Landscape

The report gives a detailed analysis of the key players in the Latin America sealants and adhesives market, covering their capacity, market share, and latest developments like mergers, acquisitions, and investments, expansions in capacity, and plant turnarounds:

• Henkel AG & Company, KGaA
• H.B. Fuller Company 
• Arkema Inc.
• Pioneer Adhesives Inc.
• Sika AG
• Wacker Chemie AG
• Saint-Gobain S.A
• Evonik Chemicals Limited
• Pidilite Industries Limited
• Shandong Evergain Adhesive Co., Ltd.
• ITLS (H.K.)Co., Limited.
• Poliplás Selantes e Adesivo Ltda
• Cabot Corporation
• Others

The comprehensive report by EMR gives an in-depth look into the manufacturing processes and the costs involved. It provides an overview of the other regional markets like North America, Asia Pacific, Europe, and the Middle East and Africa. The report also assesses the Latin America sealants and adhesives market based on the Porter’s Five Forces model as well as providing a SWOT analysis.