Market Trends of South America Contact Adhesives Industry
This section covers the major market trends shaping the South America Contact Adhesives Market according to our research experts:
Building and Construction Industry to Drive the Market Demand
- Contact adhesives' properties such as good cohesion, adhesion and elasticity, high cohesive strength, flexibility, high elastic modulus of substrate, resistance from thermal expansion, environmental resistance from UV light, corrosion, salt water, rain, and other weathering conditions, makes it extensively useful for application in construction industry.
- They are mainly used in wooden flooring and artificial turf, owing to their property of strain crystallization.
- With economies reviving from economic slowdown caused due to corruption, political instability and lack of investment, the construction industry in the region has been recovering at a steady pace.
- Hence, with growing construction activities in countries, such as Brazil, Columbia, Chile and Peru are likely to drive the consumption of contact adhesives market in the region.
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Brazil to Dominate the Market
- In terms of consumption, Brazil stands to be the largest market for contact adhesives 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 contact adhesive 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.
- Hence, all such trends are expected to drive the consumption of contact adhesives market in the country during the forecast period.
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