Latin America Sealants Market 2021-2028

MARKET OUTLOOK

The publisher’s report insinuates that the Latin American sealants market is estimated to exhibit revenue growth at a CAGR of 5.51% during the projected period 2021-2028. The market is predicted to register growth in volume at a CAGR of 4.32% in the considered years. Mexico, Brazil, and Rest of Latin America outline the market in this region.
In Mexico, the automotive sector is experiencing tremendous growth, owing to the rising investments by prominent companies. In addition, the country is known as the fourth largest exporter of automobiles. Further, the Mexican furniture market is also witnessing substantial growth. Also, the rise in online home goods purchases is anticipated to enhance the demand for furniture products. Moreover, the manufacturing of office furniture has also gained significant traction across Mexico. Hence, the growing several end-user industries are likely to increase the demand for sealants, thereby motivating the growth of the sealants market across Mexico.

Additionally, the electronics industry has also witnessed growth in Mexico, with tax incentives to augment its growth further. However, its future growth is mainly reliant on trade agreements between Mexico and the United States. Nevertheless, the electronics industry’s growth will significantly enhance the demand for sealants for multiple applications, which will further fuel the Mexican sealants market’s progression.

In Argentina, the electronics appliances sector is anticipated to regain its position in the market over the considered years, which is expected to influence the growth of the sealants market at a steady pace. Further, the government initiatives to boost construction activities are also likely to contribute to the growth of the sealants market in Argentina.

COMPETITIVE OUTLOOK

Leading companies involved in this market include Henkel Ag & Co KGaA, Avery Dennison Corporation, Arkema SA, ITW Performance Polymers, Pidilite Industries Limited, and Dow Chemical Company.