Latin America Wood Adhesives Market Size & Outlook
Latin America wood adhesives market, 2018-2030 (US$M)
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Latin America wood adhesives market highlights
- The Latin America wood adhesives market generated a revenue of USD 280.8 million in 2022.
- The market is expected to grow at a CAGR of 5.4% from 2023 to 2030.
- In terms of segment, reactive & others was the largest revenue generating technology in 2022.
- Water Based is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 280.8 million |
| Market revenue in 2030 | USD 426.2 million |
| Growth rate | 5.4% (CAGR from 2022 to 2030) |
| Largest segment | Reactive & others |
| Fastest growing segment | Water Based |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Water Based, Solvent Based, Reactive & Others |
| Key market players worldwide | DuPont de Nemours Inc, H.B. Fuller Co, Henkel AG & Co KGaA, Arkema SA, 3M Co, Sika AG, Ashland Inc, Akzo Nobel NV, Jubilant Industries, Pidilite Industries Limited, Franklin International |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.8% of the global wood adhesives market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 5,938.7 million by 2030.
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Wood Adhesives Market Scope
Wood Adhesives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America wood adhesives market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wood adhesives market will help companies and investors design strategic landscapes.
Reactive & others was the largest segment with a revenue share of 38% in 2022. Horizon Databook has segmented the Latin America wood adhesives market based on water based, solvent based, reactive & others covering the revenue growth of each sub-segment from 2018 to 2030.
In the last 15 years, the region has witnessed a 3% average annual growth in GDP. Although this is higher than that of the developed economies, the region has still lagged behind other developing economies. The average annual GDP growth rate of South Asia region, China, and sub-Saharan regions was 5% over the same period.
The sluggish economic growth has affected the long-term sustainability of construction output and resulted in a significantly lower share of the region in the wood adhesives market as compared to North America, Europe, and Asia Pacific. Residential construction and renovation spending is expected to remain high owing to the burgeoning middle-class population, rising disposable income of consumers, and growing awareness regarding sustainable renovation materials by investing in home ownership.
The governments in South America are also encouraging the real estate market by offering cash incentives to councils for approving new housing developments. Wood adhesives and other building materials are widely used in residential housing projects to ensure lasting yet inexpensive buildings. These factors are likely to have a positive impact on the wood adhesives market in Central & South America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America wood adhesives market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America wood adhesives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America Wood Adhesives Market Outlook Share, 2022 & 2030 (US$M)
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