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Latin America Construction Chemical Market accounted for more than 5% and a CAGR of 6.6% of the global Construction Chemicals revenue in 2023
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Global Construction Chemicals is segmented by Application (Residential, Commercial, Industrial Construction), Type (Asphalt Additives, Concrete Admixtures, Adhesives, Sealants, Protective Coatings, Water Proofing Chemicals) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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Global Repair And Rehabilitation Type Construction Chemicals is segmented by Application (Construction, Infrastructure, Industrial, Commercial, Residential), Type (Structural, Non-structural, Concrete, Asphalt, Thermal) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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The global market size of Philippines Construction Chemicals is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Philippines Construction Chemicals Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Philippines Construction Chemicals industry. The key insights of the report:
1.The report provides key statistics on the market status of the Philippines Construction Chemicals manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Philippines Construction Chemicals industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Philippines Construction Chemicals Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Philippines Construction Chemicals as well as some small players.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share
For product type segment, this report listed main product type of Philippines Construction Chemicals market
* Product Type I
* Product Type II
* Product Type III
For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Application I
* Application II
* Application III
For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.
Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.
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Latin America's Bamboo Construction Products market will be USD xx million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. The market is foreseen to reach USD xx million by 2031 due to increasing interest in sustainable and eco-friendly building materials.
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Global Construction Adhesives & Sealants Chemical is segmented by Application (Bonding Materials, Sealing Joints, Construction, Infrastructure, Automotive) , Type (Acrylic Adhesives & Sealants, Epoxy Adhesives & Sealants, Polyurethane Adhesives & Sealants, Silicone Sealants, Hybrid Adhesives & Sealants) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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Latin America's Sodium Allylsulfonate market will be USD XX million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. The market is foreseen to reach USD XX million by 2031 due to the region's expanding industrial base, including automotive, construction, and packaging sectors requiring high-performance chemical solutions.
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Global Cementing Chemicals is segmented by Application (Oil & Gas, Construction, Well Cementing, Mining, Water Treatment), Type (Acidizing, Friction Reducers, Viscosifiers, Retarders, Dispersants) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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The South America Paints and Coatings Market size was valued at USD 6.23 Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 5.00">> 5.00 % during the forecast periods. There is a great opportunity for the South America paints and coatings market to grow rapidly because of construction and automotive industries. Some of the characteristics are high cohesion, high durability, and high ability to withstand chemical actions. The use of expanded metal ranges from home and office construction to automobiles and factories. Architectural, industrial and specialty; water borne, solvent - borne and powder borne are the major segments of the market. It mentioned that entire developments of technologies pay attention on green and high-performance formulations. From the above findings the benefits include increase protective and decorative coatings of surfaces which leads to longer life span of the surface and high performance. Opportunities include higher demand in the market, environmental legislations, and better product standards, which drive the market growth. Recent developments include: January 2023: BASF expanded its automotive paints and coatings product portfolio by adding colors such as yellow, orange, green, and violet. In South America, white, silver, and beige automotive paints dominate the market., April 2022: Akzo Nobel N.V. strengthened its Latin American presence by acquiring Grupo Orbis, a Colombian paints and coatings firm. Grupo Orbis generates USD 379.37 million in Central America and South America. The sale contained Pintuco paints and coatings, Andercol and Poliquim (resins, emulsions, adhesives, and specialty chemicals), Mundial (paints and related product delivery services), and Centro de Servicios Mundial (shared services center). Pintuco offers a wide range of products in ten nations, with 75% decorative paints and 25% coatings, making income synergies.. Key drivers for this market are: Growing Construction Industry in the Region, Increasing Applications and Usage in the Automotive Sector; Other Drivers. Potential restraints include: Stringent Environmental Regulations Related to VOC-Emissions, Other Restraints. Notable trends are: Architectural Paints and Coatings to Dominate the Market.
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BASE YEAR | 2024 |
HISTORICAL DATA | 2019 - 2024 |
REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
MARKET SIZE 2023 | 59.28(USD Billion) |
MARKET SIZE 2024 | 61.87(USD Billion) |
MARKET SIZE 2032 | 87.12(USD Billion) |
SEGMENTS COVERED | Product Type, Application, End-Use Industry, Market Geography, Regional |
COUNTRIES COVERED | North America, Europe, APAC, South America, MEA |
KEY MARKET DYNAMICS | Increasing demand from electronics Rising consumption in automotive sector Growing adoption in UV curable coatings Technological advancements Expansion into emerging economies |
MARKET FORECAST UNITS | USD Billion |
KEY COMPANIES PROFILED | BASF SE, Eastman Chemical Company, Miwon Commercial Co., Ltd., Arkema S.A., IGM Resins, Allnex Belgium SA, Dow Chemical Company, Mitsubishi Chemical Corporation, Jiangsu Changshu Hengtai Acrylate Co., Ltd., DIC Corporation, Kyoeisha Chemical Co., Ltd., Evonik Industries AG, 3M Company, Kuraray Co., Ltd., ShinEtsu Chemical Co., Ltd. |
MARKET FORECAST PERIOD | 2025 - 2032 |
KEY MARKET OPPORTUNITIES | Growing demand for UVcurable coatings Increasing applications in electronic devices High performance in harsh environments Demand for sustainable and ecofriendly materials Emerging markets in AsiaPacific |
COMPOUND ANNUAL GROWTH RATE (CAGR) | 4.37% (2025 - 2032) |
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The South American paints and coatings market, valued at $6.23 billion in 2025, is projected to experience robust growth, exceeding a 5% CAGR from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, significant infrastructure development across the region, particularly in Brazil, Argentina, and Colombia, is stimulating demand for architectural coatings. Secondly, the burgeoning automotive industry, especially in Brazil, is driving the consumption of automotive coatings. Furthermore, the growing focus on aesthetics and improved durability in the wood and industrial sectors is contributing to market growth. The increasing preference for eco-friendly water-borne coatings, driven by environmental concerns and stricter regulations, presents a significant trend shaping the market. However, economic fluctuations in certain South American countries and price volatility of raw materials pose potential restraints to market expansion. The market is segmented by resin type (acrylics, epoxies, alkyds, polyesters, polyurethanes, and others), technology (water-borne, solvent-borne, powder, UV-cured), and end-user industry (architectural, automotive, wood, industrial, and others). Major players like Akzo Nobel, Axalta, BASF, and PPG Industries are fiercely competing, offering a diverse range of products and technologies to cater to the varied needs of the region. The market's diverse segmentation reflects the specific needs of various industries and regions within South America. While Brazil holds the largest market share due to its robust economy and infrastructure projects, other countries like Argentina, Colombia, and Peru are also experiencing growth driven by increased construction activities and industrialization. The competitive landscape features both multinational corporations and regional players, leading to innovation in product offerings and pricing strategies. The future growth of the South American paints and coatings market hinges on sustained economic growth, infrastructure investment, and the continued adoption of sustainable coating technologies. Market players are likely to focus on product diversification, strategic partnerships, and expansion into newer markets to capitalize on the anticipated growth trajectory. Recent developments include: January 2023: BASF expanded its automotive paints and coatings product portfolio by adding colors such as yellow, orange, green, and violet. In South America, white, silver, and beige automotive paints dominate the market., April 2022: Akzo Nobel N.V. strengthened its Latin American presence by acquiring Grupo Orbis, a Colombian paints and coatings firm. Grupo Orbis generates USD 379.37 million in Central America and South America. The sale contained Pintuco paints and coatings, Andercol and Poliquim (resins, emulsions, adhesives, and specialty chemicals), Mundial (paints and related product delivery services), and Centro de Servicios Mundial (shared services center). Pintuco offers a wide range of products in ten nations, with 75% decorative paints and 25% coatings, making income synergies.. Key drivers for this market are: Growing Construction Industry in the Region, Increasing Applications and Usage in the Automotive Sector; Other Drivers. Potential restraints include: Growing Construction Industry in the Region, Increasing Applications and Usage in the Automotive Sector; Other Drivers. Notable trends are: Architectural Paints and Coatings to Dominate the Market.
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According to Cognitive Market Research, the global Acrolein market size is USD 1625.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 2.20% from 2023 to 2030.
North America held the major market of more than 40% of the global revenue with a market size of USD 650.08 million in 2023 and will grow at a compound annual growth rate (CAGR) of 0.4% from 2023 to 2030
Europe market of more than 30% of the global revenue with a market size of USD 487.56 million in 2023 and will grow at a compound annual growth rate (CAGR) of 0.7% from 2023 to 2030
Asia-Pacific emerges as the fastest-growing market of more than 23% of the global revenue with a market size of USD 373.80 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030.
Latin America market of more than 5% of the global revenue with a market size of USD 81.26 million in 2023 and will grow at a compound annual growth rate (CAGR) of 1.6% from 2023 to 2030
Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 32.50 million in 2023 and will grow at a compound annual growth rate (CAGR) of 1.9% from 2023 to 2030. Growing Demand in Chemical Manufacturing to Provide Viable Market Output
The Acrolein market is driven by a significant increase in demand within the chemical manufacturing sector. Acrolein serves as a crucial intermediate in the production of various chemicals, including acrylic acid, a key component in manufacturing superabsorbent polymers, adhesives, and coatings. The expanding chemical industry, propelled by diverse applications across sectors, fuels the demand for acrolein, making it a pivotal driver in the market's growth. As industries continue to innovate and diversify, the versatile applications of acrolein contribute to its sustained demand in chemical manufacturing processes.
August 2023, Adisseo announced the construction of a new powder methionine plant in Fujian province in China. The total investment made by the company is valued at USD 681 million and is expected to be operational in 2027.
Rise in Water Treatment Applications to Propel Market Growth
A key driver for the Acrolein market is its growing use in water treatment applications. Acrolein's biocidal properties make it effective in controlling and eliminating algae, bacteria, and other microorganisms in water systems. With increasing concerns about water safety, the demand for acrolein in water treatment processes has witnessed a notable surge. This driver is particularly significant as industries and municipalities focus on maintaining high standards of water quality and sanitation. As regulatory requirements and environmental consciousness increase, the role of acrolein in water treatment positions it as a key growth factor in the market.
February 2023, Evonik announced to expand its German plant that produces Methylmercapto-Propionaldehyde (MMP), an organic compound that is integral in the production of DL-methionine.
Source-central-south-america.evonik.com/en/evonik-expands-production-capacity-for-dl-methionine-in-singapore-197254.html#:~:text=Additionally%2C%20in%202022%2C%20Evonik%20further,healthily%2C%20efficiently%2C%20and%20sustainably.
Market Restraints of the Acrolein Market
Health and Environmental Concerns to Restrict Market Growth
One significant restraint in the Acrolein market stems from health and environmental concerns associated with the compound. Acrolein is known for its pungent odor and potential health hazards, including respiratory and eye irritation. As awareness of environmental sustainability and health risks grows, regulatory scrutiny on the use of acrolein may increase, posing challenges for market players. Mitigating these concerns through adherence to stringent safety standards and developing environmentally friendly alternatives becomes crucial for the sustainable growth of the acrolein market.
Impact of the COVID–19 on Acrolein Market
The COVID-19 pandemic has had a multifaceted impact on the Acrolein market. Disruptions in global supply chains, lockdowns, and restrictions on industrial activities have affected the pr...
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Global Silicone Adhesives and Sealants is segmented by Application (Manufacturing, Chemicals, Construction), Type (Silicone, Adhesives, Sealants, Chemicals, Industrial) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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The Paints and Coatings Market size was valued at USD 206.56 USD Billion in 2023 and is projected to reach USD 281.10 USD Billion by 2032, exhibiting a CAGR of 4.5 % during the forecast period. The chemical industry responds to the paints and coatings market demand, which offers a wide range of products for anything decorative, protective, and functional, where it is needed i. e. , construction, automotive, aerospace or marine. Functioning with adhesion, durability, and chemical, weather resistance, & corrosion resistance to different colours, finishes, & formulations comes in different varieties. These are usually used in the field of architecture, automotive refinishing, industrial equipment coating and marine applications and comprise water-based, solvent-based, powder coatings and special types of coatings such as anti-graffiti and fire-retardant coatings. Through the innovation of nanotechnology and eco-friendly formulations, the last thing that is achieved is the improvement of the above factors (primarily the reduction of VOC emissions) for better indoor air quality. This ever-changing market is a centre for research and development, which is developed along with the technological ones and the changes in regulations. Recent developments include: February 2023: AkzoNobel Powder Coatings introduced the Interpon Futura Collection, which includes three new, on-trend color palettes such as Merging World, Healing Nature, and Soft Abstraction. The collection emits no solvents or volatile organic compounds and contributes to AkzoNobel's overall sustainability program., February 2023: PPG agreed to acquire the powder coatings division of Arsonsisi, an industrial coatings company situated in Milan, Italy. Arsonsisi is a prominent producer of architectural and industrial specialty powder coatings., February 2023: H.B. Fuller Company acquired Apollo, the U.K.’s independent manufacturer of liquid adhesives, coatings, and primers for the roofing, industrial, and construction industries., August 2021: PPG introduced PPG ENVIROCRON PCS P4 powder coatings for architectural, home décor, and furniture applications. This latest generation of powder coatings meets the increased demand for matte and premium-textured surfaces in applications ranging from aluminum and steel substrates for building construction to urban and office furniture., June 2021: AkzoNobel acquired paints and coatings maker Grupo Orbis. This strategic acquisition will allow AkzoNobel to expand its position in South and Central America., December 2020: Jotun launched its Jotacote Universal S120 primer to the global market in the North East Asian and West European markets. Jotacote Universal S120 is the world’s first PSPC-approved single-coat, solvent-free system.. Key drivers for this market are: Rapid Expansion of the Construction Industry Will Aid Market Growth. Potential restraints include: Difficulty Obtaining Thin Films in Powder Coating to Hinder Overall paints and coatings Market Growth. Notable trends are: Sustainability Development in Coatings Industry to Favor Growth .
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BASE YEAR | 2024 |
HISTORICAL DATA | 2019 - 2024 |
REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
MARKET SIZE 2023 | 2.36(USD Billion) |
MARKET SIZE 2024 | 2.45(USD Billion) |
MARKET SIZE 2032 | 3.4(USD Billion) |
SEGMENTS COVERED | Product Type ,Application ,End-Use Industry ,Grade ,Regional Demand ,Regional |
COUNTRIES COVERED | North America, Europe, APAC, South America, MEA |
KEY MARKET DYNAMICS | Key Market Dynamics 1 Growing demand in construction 2 Increasing use in horticulture 3 Environmental sustainability 4 Technological advancements 5 Regional infrastructure projects |
MARKET FORECAST UNITS | USD Billion |
KEY COMPANIES PROFILED | 6. SINOCERA PERLITE INTERNATIONAL CO. LTD ,2. COSMO PERLITE COMPANY PVT. LTD. ,4. MINERALS TECHNOLOGIES INC ,3. PREMIER PERLITE COMPANY ,14. PALAM PERLITE PRIVATE LIMITED ,7. SUPERLITE AGGREGATES ,5. SILICA SUPPLIES LTD ,9. P. RAMLEE & SONS SDN. BHD. ,12. PERLITE MANUFACTURING COMPANY PVT. LTD. ,13. XIAMEN ZHONGRUI IMPORT AND EXPORT CO., LTD. ,8. I.P.EX PVT. LTD. ,15. BLUE RIBBON PERLITE PROCESSING PTY LIMITED ,11. AGRO MINERALS INTERNATIONAL LLP ,1. MINERAL PROCESSING SYSTEMS INC ,10. KULITE PERLITE INDUSTRIES PVT LTD |
MARKET FORECAST PERIOD | 2024 - 2032 |
KEY MARKET OPPORTUNITIES | Expanding construction industry Rising demand for lightweight building materials Increased use in horticulture and agriculture Growing popularity in filtration and insulation applications Technological advancements |
COMPOUND ANNUAL GROWTH RATE (CAGR) | 4.17% (2024 - 2032) |
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The Latin American pumps market, valued at approximately $X million in 2025 (estimated based on provided CAGR and market size), is projected to experience robust growth at a compound annual growth rate (CAGR) of 5.00% from 2025 to 2033. This expansion is driven by several key factors. Firstly, significant investments in infrastructure development across the region, particularly in water and wastewater management and oil & gas extraction, fuel demand for pumps. Secondly, the burgeoning food and beverage processing industry, alongside the growth of chemical manufacturing and construction sectors, necessitate reliable and efficient pumping solutions. Technological advancements, including the increasing adoption of energy-efficient pumps and smart pump technologies offering remote monitoring and predictive maintenance, also contribute positively to market growth. However, economic fluctuations in some Latin American countries and potential regulatory hurdles related to environmental compliance could present challenges. The market is segmented by pump type (centrifugal, submersible, turbine, reciprocating, piston, diaphragm, rotary, and others) and end-user industry (oil and gas, chemical processing, food and beverage, water and wastewater, construction, and others). Major players like Baker Hughes, Ebara, Ruhrpumpen, ITT, KSB, Schlumberger, Sulzer, Grundfos, Weir Group, and Wilo are fiercely competing for market share, driving innovation and price competitiveness. Brazil, Mexico, and Argentina are expected to remain the largest national markets within Latin America, due to their larger economies and infrastructure projects. The forecast period of 2025-2033 will likely witness increased competition, with established players focusing on strategic acquisitions and partnerships to expand their product portfolios and geographical reach. The growing demand for sustainable and environmentally friendly pumping solutions will further drive innovation and adoption of energy-efficient technologies. Furthermore, the increasing focus on digitalization within industrial processes will lead to greater demand for smart pumps and integrated monitoring systems. This trend will particularly benefit pump manufacturers offering advanced technological solutions and data-driven services. The market's continued growth will be influenced by the overall economic health of Latin America, government policies promoting infrastructure development, and the ongoing adoption of advanced pumping technologies. Recent developments include: February 2022: Baker Hughes expanded its presence in Guyana by establishing a new local supercenter for oilfield services and equipment. The supercenter, which covered more than 8 acres, aimed at serving regional clients and assisting Baker Hughes' South American localization initiatives., December 2021: Wilo introduced the Wilo-Atmos GIGA-B, a glanded pump with a monobloc design ideal for transferring water in various types of buildings. The pump had a lower lifecycle cost due to enhanced hydraulic efficiency and long service life due to the corrosion-resistant cataphoretic coating on all cast components. With the release of the Atmos GIGA-B, Wilo added another glanded pump series with cutting-edge technology under its belt.. Key drivers for this market are: Increasing Demand for Efficient and Advanced Pumps. Potential restraints include: Increasing Demand for Efficient and Advanced Pumps. Notable trends are: Centrifugal Pump Segment to Own Significant Market Share.
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Global Chemical Adhesives is segmented by Application (Automotive industry, Construction and building, Packaging industry, Electronics and appliances, Aerospace industry), Type (Epoxy adhesives, Polyurethane adhesives, Acrylic adhesives, Silicone adhesives, Cyanoacrylate adhesives) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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Global HPMC is segmented by Application (Pharmaceuticals, Food & Beverages, Construction, Cosmetics, Paints), Type (Food Grade, Pharmaceutical Grade, Industrial Grade) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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Global Paint and Coatings is segmented by Application (Automotive, Construction, Industrial, Decorative, Furniture), Type (Chemicals, Manufacturing, Consumer Goods, Paint, Construction) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
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The size of the 1,3 Butadiene Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.6 % during the forecast period. The nonwoven fabrics market has experienced significant growth in recent years, driven by their diverse applications across industries such as healthcare, automotive, construction, and personal care. These fabrics are engineered from fibers bonded through chemical, mechanical, or thermal processes, offering advantages like durability, lightweight properties, and cost-effectiveness. Their increasing use in hygiene products, such as diapers and sanitary napkins, has been a key growth driver, supported by rising population and awareness of personal hygiene. In the healthcare sector, nonwoven fabrics are vital for manufacturing masks, gowns, and surgical drapes, especially during health crises like the COVID-19 pandemic. Additionally, the automotive industry leverages these materials for soundproofing and insulation, while the construction sector uses them for roofing and geotextiles. Sustainability has become a pivotal factor, with manufacturers focusing on eco-friendly, biodegradable, and recyclable nonwoven products to address environmental concerns. Asia-Pacific dominates the market due to robust manufacturing, urbanization, and high demand in emerging economies, while North America and Europe exhibit steady growth driven by technological advancements and regulatory standards. Recent developments include: In January 2024, Evonik announced the expansion of its capacities for hydroxyl-terminated polybutadienes (HTPB) in Central and South America. This expansion aims to meet the growing demand for these specialized polybutadiene products, crucial in aerospace, defense, and electronics for applications like solid rocket fuels and adhesives. The increased capacity is part of Evonik's strategic effort to strengthen its market position and support customers in the region with reliable supply. . Key drivers for this market are: Increasing urbanization and industrialization Growing disposable income and consumer spending Expanding automotive sector Technological advancements. Potential restraints include: Volatility in raw material prices Environmental regulations and concerns Competition from alternative elastomeric materials. Notable trends are: Growing demand for high-performance plastics and elastomers Advancements in sustainable production technologies Expansion of applications in the automotive and packaging industries.
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Latin America Construction Chemical Market accounted for more than 5% and a CAGR of 6.6% of the global Construction Chemicals revenue in 2023