Adhesive refers to a binding substance applied to the surface of materials to avoid separation. Adhesives are available in natural and synthetic form and can be classified as reactive and non-reactive types. Sealants are available in the form of a viscous material with little or no flow to allow easy penetration of substrate. Although the basic application is the same, sealants differ from adhesives as they lack strength and elongation. Sealants are preferred if they are insoluble, resistant to corrosion and provide appropriate adhesion.
The adhesives and sealants market in Latin America is expected to be driven by the growth in end user industries such as automobiles and construction where adhesives and sealants are used in panel lamenting, flooring, insulation, facades, coating, and lamination amongst other functionalities. Moreover, developing technology coupled with a wide range of applications of adhesives and sealants are expected to boost the market growth in the coming future.
Acrylic based adhesives emerged as the largest consumed as well as fastest growing adhesive, owing to its fast curing nature. These additives accounted for 26.4% of the total adhesives consumed by the building and construction industry in 2012.Acrylic-based sealants were the leading sealants consumed in Latin America followed by silicone. Silicone-based sealants are expected to be the fastest growing type of sealants growing at a CAGR of 6.2% from 2013 to 2019. The high demand for silicone-based sealants is mainly due to increasing innovative product development.
Cement is one of the major application segment for adhesives and sealants in the Latin American building and construction market and accounted for more than20% of the total market in 2012 for both adhesives and sealants. Water Proofing Systems is expected to be the fastest growing market for adhesives as well as sealants.
Brazil continued dominating the adhesives market for building and construction in Latin America and accounted for more than half of the total volume in 2012. Brazil is all set to host the FIFA World Cup in 2014 and the Olympics in 2016. These events have been prompting the growth of construction activities in Brazil, which is expected to drive the market for adhesives and sealants over the forecast period. Brazil also emerged as the leading market for sealants in Latin America followed by Mexico. Mexico sealants market for building and construction is growing at an estimated CAGR of 2.8% from 2013 to 2019. Mexico was followed by Argentina, which accounted for over 8% of the total market in 2012.
Growing demand from key end-use applications such as construction and automotive industries is expected to boost the demand in Latin America. These industrial sectors are witnessing rapid growth in Brazil, Chile, Peru, Argentina, Colombia and other regions, thus fuelling the demand for adhesives and sealants. However, growing environmental concerns and volatile raw material prices of crude oil are expected to hinder the market growth. Bio-based adhesives and sealants are expected to catch up in the near future owing to their eco friendly characteristics.
This report gives a detailed description of the Latin American adhesives and sealants market based on volume share (kilo tons) and revenue (USD million) for the period 2012 to 2019. The report highlights the factors contributing towards the growth of the market and the restraints that impede the market. Detailed forecasts for the years 2013-2019 for both adhesives and sealants have been given separately, for better understanding of the individual market scenario. The Latin American adhesives and sealants market is described with respect to their various segments along with the opportunities that are expected in the coming six years.
For geographic analysis, the Latin American market has been segmented into countries such as Brazil, Mexico, Argentina and Rest of Latin America - The adhesives market has been segmented based on the following product types - PVA (polyvinyl acetate), polyurethanes, styrenic block, epoxy, EVA and others. The market estimates and forecast for adhesives are only for formulated adhesives, which exclude its binder application such as UF/PF particleboard, foundry resins, wall joint compound binder. The Latin American adhesives and sealants study have also excluded starch corrugated board adhesives, which is a bio-based application while estimating the Latin America for adhesives. The sealants market has been segmented based on product types comprising silicones, polyurethanes, acrylic, polyvinyl acetate and others including polysulfide and EVA. The Latin American adhesives and sealants study also analyses market attractiveness for all product segments of adhesives and sealants with the help of the market attractiveness tool. The study segments the market on an application basis, provides forecasts and estimates for each application segment in terms of revenue and volume over the forecast period from 2013 to 2019.
For a more comprehensive view of Latin American adhesives and sealants market, a value chain analysis and Porter’s five forces model is provided to throw light on the specifics of the industry structure besides giving an overview of the degree of competitiveness. The Latin American adhesives and sealants report also include detailed profiles of key players such as 3M Company, Henkel AG, BASF SA, The Dow Chemical Company, Avery Dennison and Ellsworth Adhesives among others. The detailed description of players includes parameter such as company overview, financial overview, business strategies and SWOT analysis and recent developments of the company.
Secondary sources referred for Latin American adhesives and sealants study include but are not limited to, PCI, ICIS, Adhesives magazine, FECIA, Coatings World magazine, BASA online and Adhesives and Sealant Council among others. Primary research represents the bulk of research efforts, supplemented by extensive secondary research.
The report segments the Latin America Adhesives market as,
Adhesives Market: Product Segment Analysis,
- Styrenic block
- Other (including silicones, polyisobutylene)
Adhesives Market: Application Segment Analysis,
- Pressure sensitive applications
- Other (aerospace, electronics, etc)
Adhesives Market: Regional Analysis,
- Rest of the Latin America
The report segments the Latin America Sealants market as,
Sealants Market: Product Segment Analysis,
- Polyvinyl acetate
- Other (including polysulphide, EVA, etc)
Sealants Market: Application Segment Analysis,
- Pressure sensitive tapes
- Other (aerospace, electronics, etc)
Sealants Market: Regional Analysis,
- Rest of the Latin America