Latin America Adhesives & Sealants Market Significant Demand Foreseen by 2029

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Optimum Inventory Levels Help Avoid Supply Shocks amidst COVID-19 Crisis

Manufacturers are aiming to achieve full production and shipment capabilities amidst the global health crisis of the COVID (coronavirus)-19 pandemic. For instance, DELO Adhesives— a supplier of multi-purpose industrial adhesives, is rolling up its sleeves to keep a continuous tab on all purchase items and their inventories to avoid any supply shocks. Thus, companies in the Latin America adhesives & sealants market should deploy active communication with its suppliers to emerge as reliable partners for its clients and customers.

Maintaining optimum inventory levels has helped manufacturers in the Latin America adhesives & sealants market to excel in business continuity measures for its customers. It has been found that certain countries of Asia Pacific and many U.S. subsidiaries are experiencing a slowdown in revenue generation activities due to stringent lockdown regulations imposed on non-essential businesses.

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Polyurethane Sealants a Rising Star in Modular Construction Applications

Innovations in polyurethane sealants are bolstering the revenue of the Latin America adhesives & sealants market. Manufacturers are broadening their revenue streams for polyurethane sealants in transport, construction, and commercial manufacturing applications. They are increasing their research spending to develop advanced formulations that play an instrumental role in improving the rheology of polyurethane sealants and are increasing efforts to lower the isocyanate content to deliver ease of application. Manufacturers are focusing on improving the slump resistance and product safety of polyurethane sealants to deploy its widespread application in modular construction and commercial manufacturing applications.

Leading market players in the Latin America adhesives & sealants market are increasing their production capabilities to manufacture silicone adhesives used for transport vehicle assembly. They are increasing the availability of silicone adhesives that are capable of curing even at room temperature. Fast curing speed of silicone adhesives and its other performance advantages in electronics assembly are being highly preferred by end users.

Bio-based Adhesives Eliminate Costs Associated with Machine Maintenance and Deliver Safety in Applications

New adhesive and sealant innovations are creating incremental opportunities for manufacturers in Latin America. For instance, bio-based hot melt adhesives are boosting the credibility credentials of companies in the Latin America adhesives & sealants market, as manufacturers aim to expand their portfolio in environment-friendly bonding in packaging applications. Bio-based adhesives are being highly publicized for its high content of renewable materials. Moreover, these green adhesives are emerging as cost-efficient solutions for end users, since they keep the machinery clean, resulting in less maintenance costs. These green adhesives also deploy safety during applications.

On the other hand, hot melt adhesives are becoming increasingly commonplace in the Latin America adhesives & sealants market. These novel adhesives are being extensively used in case and carton sealing applications. As such, manufacturers are increasing their R&D efforts to innovate in polymer technology in order to make adhesives more resistant to extreme hot and cold temperatures.

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Hybrid Joining Techniques Help Overcome Limitations in Bonding Strength of Adhesives

New adhesive formulations are being highly preferred in superior stress-bearing components. However, adhesives require surface preparation treatments that involve cleaning of surfaces on which they are being joined. Moreover, oil and grease on surfaces significantly affect the bonding strength of adhesives. Hence, companies in the Latin America adhesives & sealants market are becoming increasingly aware about hybrid joining processes to overcome the limitations of adhesives. Similarly, weld bonding, clinch bonding, and rivet welding are some of the popular hybrid joining techniques that are becoming increasingly mainstream in various end-use cases.

On the other hand, pressure-sensitive adhesives are becoming prominent in the medical sector. Manufacturers in the Latin America adhesives & sealants market are focusing on developing skin-friendly adhesives that offer good breathability and keeps the pain and discomfort to a minimum in individuals. Thus, companies in the Latin America adhesives & sealants market are unlocking opportunities in the medical device industry and in wound care applications. As such, companies are entering into strategic partnerships to participate in recycling programs to contribute toward a circular economy.

Latin America Adhesives & Sealants Market: Overview

• In terms of value, the adhesives & sealants market in Latin America is expected to cross value of US$ 4 Bnby 2030
• Increase in the demand for adhesives and sealants, owing to their exceptional properties is anticipated to boost the adhesives & sealants market in Latin America during the forecast period
• Construction is projected to be a highly attractive end-use industry for adhesives and sealants in Latin America in the near future

Latin America Adhesives & Sealants Market: Key Drivers and Restraints

• Adhesives and sealants possess exceptional properties such as strength, flexibility, solubility, and corrosion resistance, owing to which they are largely used in the construction industry. Thus, with the rise in constructional activities, the demand for adhesives and sealants is expected to increase, thereby propelling the adhesives & sealants market in Latin America in the near future.
• Increased adoption of adhesives and sealants in the automotive industry led by their numerous advantages, such as resistance to fatigue, contaminants, and corrosion is projected to drive the adhesives & sealants market in Latin America during the forecast period
• Environmental concerns related to carbon emissions have prompted companies to develop bio-based adhesives and sealants. These products not only reduce the overall manufacturing cost, but also provide environmental benefits in terms of lower carbon footprint. Therefore, development of bio-based adhesives and sealants is expected to create opportunities for the adhesives & sealants market in Latin America in the near future.
• Raw materials required for manufacture of adhesives and sealants include ethylene, propylene, vinyl acetate monomer (VAM), and oil. Most of them are obtained from crude oil and petrochemicals. However, the price of crude oil and petrochemicals is volatile in nature, which has a direct effect on the production cost of adhesives and sealants. Thus, volatility in raw material prices is expected to restrain the adhesives & sealants market in Latin America during the forecast period.

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Latin America Adhesives & Sealants Market: Key Product Segments

• Based on Product, the adhesives & sealants market in Latin America has been divided into acrylics, epoxy, polyvinyl acetate (PVA), polyurethane (PU), styrenic block, ethyl vinyl acetate (EVA), and others
• In terms of value and volume, acrylics is a prominent segment of the adhesives & sealants market in Latin America. Acrylic materials adhere readily to a variety of surfaces and are employed in several types of pressure-sensitive adhesives.

Latin America Adhesives & Sealants Market: Prominent Applications

• Based on application, the adhesives & sealants market in Latin America has been classified into pressure sensitive, packaging, construction, furniture, footwear, automotive, and others. The pressure sensitive segment is likely to expand at a rapid pace in the near future, as it is a leading consumer of adhesives and sealants. The segment is likely to continue its dominance in the market in the region in the near future.

Latin America Adhesives & Sealants Market: Key Developments

• In October 2016, Grupo Lamosa announced to have completed the acquisition of Ceramica San Lorenzo for US$ 230 Mn.The move included the acquisition of six subsidiaries of the latter with operations in Chile, Colombia, Peru, and Argentina. This would help the former expand its presence in the adhesives & sealants market in Latin America.
• In June 2019, Henkel AG and Company KGaA expanded its portfolio with the launch of an adhesive solution called Loctite Liofol LA 2798 for use in high-performance packaging applications. The base component of Loctite Liofol LA 2798 can be combined with different hardeners for processes such as sterilization and hot filling. With the launch of this product, Henkel gained a remarkable position in the global adhesives & sealants market.
• In October 2019, 3M Company acquired Acelity, Inc. and its subsidiaries across the world for US$ 6.7 Bn. Acelity, Inc. produces KCI-branded products for advanced wound care and specialty surgical applications. The acquisition is estimated to help 3M expand its business in advanced wound care, which is a significantly expanding segment of the adhesives & sealants market in Latin America.
• In August 2017, 3M launched the 3M 4076 extended wear medical tape, with an aim to offer medical device manufacturers and engineers an acrylic-based adhesive solution designed to enhance patient comfort and provide a strong and reliable bond in challenging applications. The non-sensitizing, conformable adhesive was developed for long-term wear.