Mexico Adhesives Market Report and Forecast 2023-2028

According to the report, the Mexico adhesives market reached approximately USD 1.36 billion in 2022. Aided by the expansion of end-use industries and the development of advanced and efficient adhesive products, the market is projected to further grow at a CAGR of 6.30% between 2023 and 2028, reaching a value of USD 1.96 billion by 2028.

Adhesives, substances used to bond materials together, are a crucial component in various industries, including construction, automotive, packaging, and electronics, among others. They are favoured for their ability to distribute stress more evenly across joints, reduce weight and costs, and eliminate the need for screws, fasteners, and welding.

The Mexico adhesives market expansion is primarily driven by the growth of the country's construction industry. As the demand for residential and commercial infrastructure increases, so does the need for efficient and robust adhesives. They are integral to various construction processes, from flooring and tile setting to insulation and roofing.

Simultaneously, the expansion of the automotive industry in Mexico provides another significant boost to the Mexico adhesives market growth. With an increasing trend towards lightweight and fuel-efficient vehicles, the demand for adhesives that can replace traditional mechanical fasteners and welding processes is on the rise. These high-performance adhesives reduce the vehicle's weight, improve its performance, and increase fuel efficiency.

Furthermore, the surge in the country's packaging industry is also propelling the Mexico adhesives market. In this sector, adhesives are extensively used in carton sealing, labelling, and flexible packaging. With the growing emphasis on sustainable packaging and the rising e-commerce industry, the demand for efficient adhesives is expected to soar in the coming years.

Also, Mexico's burgeoning electronics industry contributes to the Mexico adhesives market expansion. With miniaturisation trends and increased production of consumer electronics, the need for high-performance adhesives for component bonding and thermal management has intensified.

Technological advancements are also fostering the Mexico adhesives market development. The development of eco-friendly adhesives and hot-melt adhesives offers a vast array of opportunities for market growth. These adhesives provide benefits such as lower volatile organic compound (VOC) emissions, faster setting time, and higher bond strength, appealing to a wide range of end-use industries.

Market Segmentation

The market can be divided based on product type, application, and region.

Market Breakup by Product Type

• Reactive Systems
• Epoxy
• Polyurethane
• Solvent Based
• Vinyl Acetate
• PVA (Polyvinyl Acetate)
• Rubber
• Pressure Sensitive
• Acryl
• Rubber
• Water Based
• Acryl Emulsion
• Vinyl Acetate
• Hot Melt
• EVA (Ethylene Vinyl Acetate)
• Rubber

Market Breakup by Application

• Paper, Board and Related Products
• Building, Construction, Civil Engineering, Craftsmen
• Woodworking and Joinery
• Transportation
• Footwear and Leather
• Consumer/DIY
• Assembly Operations
• Others

Market Breakup by Region

• Baja California
• Northern Mexico
• The Bajío
• Central Mexico
• Pacific Coast
• Yucatan Peninsula

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Mexico adhesives companies.

Some of the major key players explored in the report are as follows:

• 3M Co.
• Arkema Group
• Henkel AG & Co. KGaA
• Sika AG
• H.B. Fuller Company
• Saint-Gobain S.A
• Grupo Lamosa
• Others

About the Analyst

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.