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

 The market for sealants in Mexico is anticipated to grow at a CAGR of 7.03%. Due to their numerous uses in the building sector in Mexico, including waterproofing, weatherproofing, crack sealing, and joint sealing, sealants are widely employed. Due to supportive government programmes like the National Development Plan, the demand for sealants is expected to increase over the next few years. The Mexican construction industry is predicted to rise by 3.1% by 2025.

Mexico's healthcare sector has experienced rapid expansion in recent years. Healthcare spending as a percentage of GDP increased from 5.4% in 2019 to 6.2% in 2020. Sealants have many uses in the healthcare industry, including the assembly and sealing of medical device parts. Due to the fact that sealants may be applied to a variety of substrates, including glass, metal, plastic, and painted surfaces, the automotive industry also owns a sizable portion of the sealants market. Gaskets for cars and engines are the main uses for them. Due to a lack of raw materials and a disruption in supply chains during the COVID-19 epidemic in 2020, automotive manufacturing fell by 28%, which affected sealant demand as a whole.

Major Players: 3M, Henkel AG & Co. KGaA, RPM International Inc., Sika AG and Soudal Holding N.V.


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