Latin America Adhesives And Sealants market to Record Sturdy Growth by 2014-2020

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.

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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.

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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.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services.