The Latin America adhesives market was anticipated at around USD 155 million in 2012. It is estimated to generate revenue worth almost USD 235 million by 2019. The market is predicted to increase at about 6 percent CAGR during the forecast phase. This phase lasts from 2013 to 2019. The Latin America sealants market was projected to be worth around USD 53 million in 2012.
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It is predicted to attain a size of about USD 79 million by 2019, expanding at about 6 percent CAGR during the same phase. Expanding economy and governmental expenses on infrastructure growth in developing nations is anticipated to expand the Latin America adhesives and sealants market. However, unevenness in raw material prices and ecological concerns with regard to using synthetic adhesives and sealants are projected to prevent the market from expanding further.
Polyvinyl acetate and acrylic based adhesives jointly made up for over 47 percent of the Latin America adhesives and sealants market in 2012. These adhesives are broadly used in construction. Due to its rapid setting features, acrylic-based adhesives are estimated to be the most rapidly expanding sector of the Latin America adhesives and sealants market. They are likely to have about 6 percent CAGR through the forecast phase.
Acrylic-based sealants leaded the Latin America adhesives and sealants market in 2012 and made up for around 25 percent of the revenue share. Water proofing systems came up as the biggest application sector in the same year. They occupied near about 34 percent of the Latin America adhesives and sealants market that year. They are also estimated to be the most rapidly expanding market at about 6 percent and 5 percent CAGRs during the aforementioned phase.
Escalating foreign spendings in Brazil have increased the demand for more infrastructural development in Latin America. Increased demand from vital consumer applications in construction is anticipated to enhance demand for the Latin America adhesives and sealants market. This market is segmented further into applications, products sectors and geography.
Information Source: Grand View Research