The Latin America, Middle East and Africa Specialty Adhesives Market would witness market growth of 6.5% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 123.42 Kilo Tonnes, showcasing a growth of 6.3% (2023-2030).
Acrylic-based specialty adhesives have emerged as integral components in the adhesive market, renowned for their exceptional versatility and performance characteristics. Acrylic adhesives offer a unique combination of high strength, durability, and resistance to environmental factors such as moisture, temperature extremes, and UV radiation. This makes them ideal for a wide range of applications across industries including automotive, electronics, signage, and construction. Therefore, the Brazil market make use of 4.26 Kilo Tonnes in the market in 2022.
The Brazil market dominated the LAMEA Specialty Adhesives Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $138.4 Million by 2030. The Argentina market is showcasing a CAGR of 7.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.8% during (2023 - 2030).
These are utilized in the aerospace and defense industries for bonding composite structures, aircraft interiors, and critical components such as wings, fuselages, and engine parts. They offer lightweight solutions, fatigue resistance, and compatibility with stringent aerospace specifications. Additionally, the adhesives are crucial in bonding electronic components, encapsulating sensitive devices, and sealing electronic assemblies in the electronics industry. They provide electrical insulation, thermal management, and protection against moisture and environmental contaminants in applications ranging from consumer electronics to industrial automation.
The expansion of the electronics industry translates into a higher need for these adhesives. For example, according to data from the National Investment Promotion & Facilitation Agency, India's electronics sector is valued at approximately $155 billion, with 65% of the production originating domestically. In the (fiscal year) FY23, domestic production surged to $101 billion, marking a significant increase from $49 billion in FY17, representing a 13% growth. Projections suggest that by FY26, India's electronics exports will reach $120 billion. Moreover, between April and November 2023, there was a 23.56% surge in electronic goods exports, totaling $17.74 billion, compared to $14.36 billion during the same period in 2022.
The UAE is home to numerous high-end architectural projects that feature innovative designs and cutting-edge building materials. According to the same source, it is anticipated that the UAE's construction industry will experience a robust recovery over the coming years, with an annual growth rate of 4.7% in value. In alignment with the "Projects of the 50" initiative, the UAE government declared its intention to execute a sequence of endeavors to expedite the nation's economic progress and establish it as an all-encompassing center for various industries. Over the coming years, it intends to attract $149.8 billion in foreign direct investment. In conclusion, the expansion of commercial construction activities is propelling the market's growth.
Free Valuable Insights: The Worldwide Specialty Adhesives Market is Projected to reach USD 6.3 Billion by 2030, at a CAGR of 4.4%
Based on Product, the market is segmented into Cyanoacrylates, Acrylic, Polyurethane, Polyvinyl Acetate and Others. Based on End-Use, the market is segmented into Construction, Automotive, Aerospace, Marine and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Product (Volume, kilo Tonnes, USD Billion, 2019-2030)
By End-Use (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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