Market Trends of South America Polyurethane (PU) Adhesives Industry
This section covers the major market trends shaping the South America Polyurethane Adhesives Market according to our research experts:
Building and Construction Industry Dominates the Market
- Among end-user industries, building and construction segment dominates the consumption of PU adhesives in the region.
- PU adhesives have rapid curing and low strength properties, making it an excellent choice for woodworking and other construction applications. They provide high strength required to hold construction materials together.
- Besides, this material is versatile, when it comes to product assembly adhesives. It suits plastics, glass, PVFs, aluminums, stainless steel, and other metals, regardless of the toughness of bond substrates.
- 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 PU adhesives market in the region.
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Brazil Dominates the Market Demand
- In terms of consumption, Brazil stands to be the largest market for PU 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 PU adhesives 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 PU adhesives market in the country during the forecast period.
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