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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Construction Chemicals Market Size
The Latin America construction chemicals market size reached a value of about USD 5662.555 million in 2021. The market is further expected to grow at a CAGR of 3.10% between 2024 and 2032 to attain nearly USD 6761.144 million by 2027.
News and Developments in the Market
In May 2023, Sika opened its new plant in Santa Cruz de la Sierra, Bolivia. With this, the company aims to double its production capacity for mortar and concrete admixtures and strengthen its position in the Bolivian construction market. The new production facility would also help double the usable spaces, replace the existing plants, and boost the sustainability and efficiency of production. Such expansion activities are driving the Latin America construction chemicals market growth.
In March 2023, Arkema appointed Brenntag as a distributor for its waterborne acrylic resins in Mexico. Through this, the company aims to distribute the ENCOR®, CELOCOR® SNAP® and NEOCAR® brands in Mexico, which find extensive applications in construction products, industrial coatings, adhesives, caulks and sealants, architectural paints, and traffic coatings.
In August 2021, Sika acquired Bexel Internacional S.A. de C.V., which is a leading Mexican producer of stucco and tile adhesives. The company aimed to expand its position and manufacturing footprint in the Mexican mortar market through the acquisition. It was also aimed at expanding the company’s Building Finishing portfolio as well as the distribution network in the country. Hence, the increasing mergers and acquisitions are favouring the market growth in the region.
In June 2021, MC-Bauchemie started its operations in Bolivia after acquiring the majority shares of Linox. The latter is a Bolivian company that manufactures construction chemical products and offers an extensive product portfolio of paintings and waterproofing products in the local market. Through this, the company aimed to enhance its activities in Latin America as a part of its Vision 2030.
In February 2021, Bostik, the adhesive solutions segment of Arkema, announced its plans to acquire Poliplas Ltda. through its Fortaleza brand. Poliplas is a Brazil-based sealants and adhesives producer, and its acquisition was aimed at enabling the company to strengthen its adhesives business unit in Brazil.
Latin America Construction Chemicals Market Report Snapshots
Latin America Construction Chemicals Market Size
Latin America Construction Chemicals Market Analysis
Latin America Construction Chemicals Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 5,955.03 million.
In the construction sector, construction chemicals are used to increase the strength and durability of buildings while protecting them from degradation. Construction chemicals are also used in infrastructural development activities, including the construction of roads and bridges, among others.
The demand for construction chemicals in the coming years is expected to increase on account of the evolving regulatory standards and the surging preference for high-quality construction materials in the construction sector.
The market is estimated to grow at a CAGR of 3.2% between 2024 and 2032.
Construction chemicals added to various building materials enhance the workability, performance, and functionality while protecting the structural integrity of buildings.
The market is projected to reach about USD 7,868.29 million by 2032.
The growing demand for innovative construction chemicals, the rising housing demand, and the surging renovation activities are driving the market demand for construction chemicals in Latin America.
The market is likely to be driven by robust growth of the construction sector, technological advancements and innovations by the leading Latin America construction chemicals companies, and the rising investments in infrastructural development.
The major regions in the Latin America market are Brazil, Mexico, Argentina, Chile, Colombia, and Peru, among others.
The various types of construction chemicals in the market are concrete admixtures, flooring chemicals, waterproofing chemicals, repair and rehabilitation, and sealants and adhesives, among others.
The several applications of construction chemicals are residential and non-residential.
The major players in the market are Sika AG, Aquaquim S.A. de C.V., Dow Inc., Arkema Group, and Clariant International Ltd., among others.
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