Market Size of mexico sealants Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 217.10 Million |
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Market Size (2028) | USD 278.83 Million |
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Largest Share by End User Industry | Building and Construction |
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CAGR (2024 - 2028) | 6.46 % |
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Fastest Growing by End User Industry | Automotive |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Mexico Sealants Market Analysis
The Mexico Sealants Market size is estimated at 217.10 million USD in 2024, and is expected to reach 278.83 million USD by 2028, growing at a CAGR of 6.46% during the forecast period (2024-2028).
217.10 Million
Market Size in 2024 (USD)
278.83 Million
Market Size in 2028 (USD)
2.68 %
CAGR (2017-2023)
6.46 %
CAGR (2024-2028)
Largest Market by End-user Industry
33 %
value share, Building and Construction, 2023
In Mexico, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing and heat insulation.
Fastest Growing Market by End-user Industry
8.35 %
Projected CAGR, Automotive, 2024-2028
The automotive industry is likely to be the fastest-growing end-user segment in the market owing to the rising demand for lightweight and high-impact resistance components to substitute traditional metal joints and fasteners.
Largest Market by Resin
44.83 %
value share, Silicone, 2023
Silicone sealants hold the largest market share owing to their wide applications in building and construction and automotive industries for both interior and exterior applications.
Fastest Growing Market by Resin
6.74 %
Projected CAGR, Silicone, 2024-2028
Due to sheer strength and high-impact resistance abilities, silicone sealants are mostly used in construction applications. The segment is forecast to be the fastest-growing resin type in the market.
Leading Market Player
13.81 %
market share, Sika AG, 2021
Sika AG has been witnessing increasing volume sales in Mexico due to the popularity of its products mostly in the building and construction industry.
Government construction policies to promote construction and electric vehicles to grow the demand for sealants
- Sealants are majorly used in the Mexican construction industry due to their diverse applications, such as waterproofing, weather sealing, crack sealing, and joint sealing. The construction industry of Mexico is likely to grow by 3.1% up to 2025 owing to favorable government policies such as the National Development Plan will likely propel the demand for sealants over the coming years.
- The healthcare industry of Mexico has achieved significant growth in recent times. Healthcare expenditure as a share of GDP reached 6.2% in 2020 from 5.4% in 2019. Sealants have widespread applications in healthcare, such as assembling and sealing medical device parts. The automotive industry also holds a decent share in the sealants market because of their applicability to various substrates such as glass, metal, plastic, and painted surfaces. These are mostly used in engines and car gaskets.
- During the COVID-19 outbreak in 2020, automotive production decreased by 28% due to a shortage of raw materials and disruption of supply chains, leading to a decrease in overall sealant consumption. However, the rapid adoption of electric vehicles because of government regulations and consumer preferences is expected to create opportunities for sealants in the automotive industry.
- Different sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting materials. They are used for sealing sensors and cables, etc. The consumer electronics market is anticipated to record a CAGR of around 2.2% over the coming years in Mexico, leading to an increase in the demand for sealants from the other end-user industries segment.
Understand The Key Trends Shaping This Market
