Market Trends of South America Reactive Adhesives Industry
This section covers the major market trends shaping the South America Reactive Adhesives Market according to our research experts:
Renewable Energy Industry to Witness the Highest Growth Rate
- The consumption of wind energy has been significantly increasing in the region in the past few years.
- Wind energy offers many advantages over traditional energy sources which include unlimited & free energy, clean and non-polluting way to generate electricity. Unlike other types of power plants, it emits no air pollutants or greenhouse gases.
- Reactive adhesives are used to bond blades together. They offer a solution of reduced weight, as well as providing benefits in reduced assembly time and corrosion protection.
- The installed wind power capacity in the region has witnessed a significant growth in the recent years owing to the growing environmental consciousness.
- Hence, owing to the above-mentioned factors, wind turbines industry is likely to witness the highest growth rate during the forecast period.
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Brazil to Dominate the Market
- Brazil accounts for the major share of the South America reactive adhesives market currently owing to the high demand from transportation, aerospace, and construction.
- Brazil has the largest automotive industry in South America and the high automotive production results a high demand for reactive adhesives in the country. However, the recent slowdown of the automotive industry is expected to negatively affect the market studied in the coming years.
- The growing aerospace and construction industries of the country are some of the key factors driving the demand for reactive adhesives in the country.
- Hence, owing to the above-mentioned factors, Brazil is expected to dominate the market studied during the forecast period.
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