South America Epoxy Adhesives Market - Segmented by Product Type, End-user and Geography - Growth, Trends and Forecast (2018 - 2023)
The South America Epoxy Adhesives market is estimated to register a significant CAGR during the forecast period. Brazil is expected to hold the largest share of the market, owing to the healthy growth of automotive industry. Construction is expected to hold the largest share of the end-user.
Accelerating Demand from Automotive Industry is set to Propel Growth of the Epoxy Adhesives Market
Epoxy adhesives are used in automotive industry for structural bonding i.e. wherever strong and long lasting bonds are required. The majority of the current automotive bonding applications are of epoxy adhesives. Thus, the epoxy adhesives market is directly related to the automotive production. The automotive sector of the region experienced downfall during the period 2014-2016, but has since recovered. Major economies, such as Brazil and Argentina are expected to experience heavy surge during the forecast period. Growth of automotive production clubbed with increasing application is expected to help propel the growth of the market in region.
Construction is Expected to Hold the Largest Share of the End-user Segment During the Forecast Period
Construction accounts for close to 30% of the total share of the market in 2017. Epoxy adhesives are used for joining concrete, brickwork, masonry, elastomeric bearings, timber, ceramic tiles, aluminum, and steel. Moreover, with the increasing applications of plastics, wood and composites in building, the applications of epoxy adhesives in construction is also on rise. Furthermore, the application of epoxy adhesives in pre-stressed concrete is also on rise. There are many construction projects up in the pipeline in countries, such as Brazil; these projects are expected to boost the demand for epoxy adhesives during the forecast period.
Brazil is set to dominate the region during the forecast period
The aerospace industry in Brazil is enjoying a decent growth owing to the company Embraer, which ranks in one of the top five aircraft manufacturer in the world, in 2016. The aerospace maintenance and repair sub-sector had been enjoying an annual growth rate of approximately 5%-6% in the last couple of years. The State of Sao Paulo has the largest aerospace hub in Latin America with around 100 manufacturing facilities, of which approximately 70% is occupied by Brazilian units. Increasing growth in the aerospace manufacturing sector will drive the market for reactive adhesives in this industry through 2021.
Moreover, automotive sector of the country has also witnessed a significant rise in 2017; around 25%. Additionally, major electric vehicle manufacturers, such as Toyota, Volkswagen, Hyundai, Nissan, Chevrolet, Volvo, and BMW are expected to expand their base in Brazil.
Notable Developments in the Market
September 2017: H.B. Fuller Company to acquire Royal Adhesives and Sealants
Major Players: Henkel AG & Co. KGaA, H.B. Fuller Co, and 3M, among others.
Reasons to Purchase this Report
To understand the impact of accelerating demand from automotive industry on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating end-user in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support, along with the Market Estimate sheet in excel
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