MEXICO ADHESIVES MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for adhesives in Mexico is anticipated to grow at a CAGR of 6.68%. Adhesives play a crucial role in bonding plastics, metals, and paper & cardboard packaging applications, which explains why the country's packaging industry consumes a lot of them. Due to their lower cost and strong bonding capacity, which is needed in various applications, waterborne adhesives are widely used in the industry. It is estimated that the nation's packaging industry will use close to 77 thousand tonnes of water-borne adhesives in 2021.

Due to their many uses in the building industry in Mexico, including the assembly of prefabricated blocks, roofing, plumbing, and flooring, adhesives are widely used. Due to advantageous government policies, such as the National Development Plan, which will drive the need for construction adhesives in the upcoming years, the Mexican construction industry is predicted to rise by 3.1% by 2025.

In recent years, the healthcare sector in Mexico has experienced substantial expansion. Healthcare spending as a percentage of GDP increased from 5.4% in 2019 to 6.2% in 2020. Adhesives are used often in the healthcare industry, including when assembling and attaching medical device parts.

Major Players: 3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA and Sika AG


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