Latin America Adhesives and Sealants Market to Grow 6.6%
A recent report from Hexa Research indicates that increasing automobile demand in Brazil is anticipated to augment the market growth over the forecast period. Latin America has been the fastest growing market for adhesives and sealants over the past five years, reportedly due to strong growth in end-use industries such as automotive, construction, and packaging. Growing manufacturing industries on account of rapid industrialization in developing nations such as Brazil and Argentina is anticipated to boost adhesives and sealants market over the next five years.
Increased government spending in construction activities on account of infrastructure development in this region is further anticipated to boost the demand. Brazil was the host for FIFA World Cup in 2014, which resulted in strong demand for adhesives and sealants from end-use industries such as construction, packaging, and furniture. Brazil will to host the next Olympics in 2016; the event is expected to boost adhesives and sealants demand from end-use industries over the next two years.