Market Trends of South America Adhesives Industry
This section covers the major market trends shaping the South America Adhesives Market according to our research experts:
Increasing Demand from Packaging Industry
- Packaging is a fast-growing industry in terms of design and technology for protecting and enhancing products' safety and longevity.
- It is the largest end-user industry, accounting for 57% of adhesive consumption across all South American countries.
- The demand for quick and on-the-go packaged items is increasing due to consumers' busier lifestyles, greater spending power, and related factors in the region.
- The growing interest in public health, along with the emerging e-commerce activities across the region, is likely to continue boosting the growth of the food processing industry, which will further drive the packaging demand over the coming years.
- Moreover, packaging paper and paperboard is also growing significantly. For example, Brazil's production capacity of packaging paper and paperboard amounted to 8264 thousand metric tons in 2021, driving the demand for adhesives in the region.
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Brazil to Dominate the Market
- Brazil dominates the demand for adhesives from the South American region due to its comparatively larger area and population than other countries like Argentina and Colombia.
- Brazil's demand for construction adhesives is directly dependent on the construction activities in the country. The new floor area in Brazil is expected to increase by 4.76% in 2022 from 2 billion square feet in 2021. Thus, the demand for construction adhesives is expected to grow significantly.
- Moreover, the Brazilian aerospace industry is a prominent exporter of aircraft and related components to nations such as the United States, China, and Japan. In the United States, almost 69% of manufactured aircraft components are exported from Brazil.
- Additionally, Brazil is the largest healthcare market in Latin America and spends 9.1% of its GDP on healthcare.
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