At 2.6% CAGR, the South & Central America Adhesives and Sealants Market is Projected to be worth US$ 2,057.42 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America adhesives and sealants market was valued at US$ 1,670.90 million in 2022 and is expected to reach US$ 2,057.42 million by 2030, registering a CAGR of 2.6% from 2022 to 2030. Strong growth of construction and automotive industries and increasing demand for adhesives and sealants from paper & packaging industry are among the critical factors attributed to the South & Central America adhesives and sealants market expansion.

Several manufacturers are focused on developing adhesives and sealants from biological sources and agro-wastes in response to the global focus on sustainable development and circular economies. According to the Brazil’s National Solid Waste Plan, recycling rates in the country are expected to rise by 14% by 2024 and 48% overall by 2040. Also, in 2020, the Peruvian government amended the Comprehensive Solid Waste Management Law to promote circular economies, encourage waste recovery and recycling, and create a more consistent supply of recyclable materials. Further, the Chilean Ministry of Environment has taken numerous initiatives to reduce waste generation and promote recycling across the country, including National Circular Economy Program, Chile Circular project, and Extended Producer Responsibility (EPR) Act. There is a switch in a trend toward recycling of adhesives and sealants from manufacturers in developed economies. The development of debondable hot-melt adhesives made of high-performance materials from sustainable and natural biomolecules is in trend due to their ability of being recycled. These adhesives find their applications in many industries such as transportation, consumer electronics & appliances, and military. Therefore, the growing awareness of sustainable development and increasing focus on a circular economy will propel the demand for recycled adhesives and sealants and reactivation processes in different industries in the coming years.

On the contrary, fluctuation in prices of raw materials hurdles the growth of South & Central America adhesives and sealants market. 

Based on resin type, the South & Central America adhesives and sealants market is bifurcated into adhesives and sealants. The adhesives segment held 85.7% market share in 2022, amassing US$ 1,432.30 million. It is projected to garner US$ 1,772.68 million by 2030 to expand at 2.7% CAGR during 2022–2030. Additionally, the adhesives segment is categorized into epoxy, polyurethane, acrylic, and others. Further, the sealants segment is subsegmented into silicone sealant, urethane sealant, acrylic sealant, polysulfide sealant, and others.

Based on end-use industry, the South & Central America adhesives and sealants market is categorized into automotive, aerospace, paper and packaging, building and construction, electrical and electronics, medical, and others. The building and construction segment held 35.9% market share in 2022, amassing US$ 599.90 million. It is projected to garner US$ 760.87 million by 2030 to expand at 3.0% CAGR during 2022–2030.

Based on country, the South & Central America adhesives and sealants market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 43.9% share of South & Central America adhesives and sealants market in 2022. It was assessed at US$ 732.80 million in 2022 and is likely to hit US$ 933.93 million by 2030, exhibiting a CAGR of 3.1% during 2022–2030.            

Key players operating in the South & Central America adhesives and sealants market are Henkel AG and Co KGaA, HB Fuller Company, Sika AG, 3M Co, Huntsman International LLC, Dow Inc, Wacker Chemie AG, and Parker Hannifin Corp, among others.

• In Mar 2023, Dow Inc launched silicone sealant products for photovoltaic assembly.
• In June 2021, HB Fuller Co announced strategic partnership with Jubilant Industries Limited.

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