The Latin America adhesives and sealants market was projected to have garnered an income worth about USD 164 million and USD 56 million respectively in 2014. It is predicted to collect revenue worth around USD 253 million and USD 84 million respectively by 2020. The market is expected to register about 6.2 percent and 5.7 percent CAGRs correspondingly during the forecast period. This period is anticipated to last till 2020 and begins in 2014.
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Fiscal augmentations and governmental expenses on the creation of infrastructure in the developing regions of Latin America are projected to propel the Latin America adhesives and sealants market. However, instabilities in the costs of raw materials and ecological apprehensions with regard to using synthetic adhesives and sealants could serve as prominent obstacles in the further progress of this market.
Adhesives based on polyvinyl acetate and acrylic made up in excess of 40 percent of the Latin America adhesives and sealants market for building in 2013. These adhesives are widely used in the building industry. Adhesives based on acrylic are projected to be the most swiftly expanding market in the future. The sealants market was leaded by sealants based on acrylic in 2013. Augmented building operations in Argentina and Brazil are estimated to improve the Latin America adhesives and sealants market conditions.
Water proofing systems were the biggest client of the market in 2013. They are also estimated to be the most speedily expanding market. Brazil leaded the Latin America adhesives and sealants market in 2013. It occupied most of the shares that year.
Information Source: Grand View Research