Market Trends of South America Acrylic Adhesives Industry
This section covers the major market trends shaping the South America Acrylic Adhesives Market according to our research experts:
Packaging Industry to Drive the Market Demand
- The packaging industry dominates the consumption of acrylic adhesives, as they are widely useful in the manufacturing of various products, such as tapes, cases, labels, and cartons.
- In South America, countries such as Brazil, Chile and Argentina have strong dependency on processed and packaged food.
- Further, growing e-commerce, online food deliveries, and innovation and development related to product packaging have been influencing the demand for packaging materials in the region.
- Hence, all such trends influencing the demand for packaging materials are further increasing the consumption of acrylic adhesives in packaging industry.
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Brazil to Dominate the Market
- In terms of consumption, Brazil stands to be the largest market for contact adhesive in the region. Brazil had experienced a volatile economy over the past few years.
- Political instability, high inflation, low prices of export of goods, and depressed confidence levels caused a contraction in the Brazilian economy.
- However, the country's economic growth is now supported by the recovery in various end-user industries, such as automotive and construction.
- Currently, the country's infrastructure sector is under flux. However, the government has introduced a program for infrastructure development to help leverage private sector logistics investment, which is likely to increase the scope for consumption of acrylic adhesive market in the country during the forecast period.
- Brazil retail sector stands to be the largest in the region which accounts for more than 35% of the regional retail sales. The sector is further witnessing noticeable growth in the country with growing demand for food and consumer goods.
- Thus, with such trends in retail sector, the demand for packaging as well as acrylic adhesives is anticipated to increase in the country over the forecast period.
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