Mexico Adhesives Market Size

The Mexico Adhesives Market is projected to experience growth over the forecast period, driven by its significant application in various industries such as packaging, construction, healthcare, and automotive. The packaging industry, in particular, consumes a large volume of waterborne adhesives due to their cost-effectiveness and strong bonding capabilities. The construction sector's expansion, supported by favorable government policies, is expected to further increase the demand for construction adhesives. Additionally, the healthcare industry's growth and the automotive industry's recovery from pandemic-related disruptions are anticipated to contribute to the market's expansion.

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Market Size of mexico adhesives Industry

Mexico Adhesives Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 1.44 Billion
svg icon Market Size (2028) USD 1.84 Billion
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2028) 6.26 %
svg icon Fastest Growing by End User Industry Automotive

Major Players

Mexico Adhesives Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Mexico Adhesives Market Analysis

The Mexico Adhesives Market size is estimated at 1.44 billion USD in 2024, and is expected to reach 1.84 billion USD by 2028, growing at a CAGR of 6.26% during the forecast period (2024-2028).

1.44 Billion

Market Size in 2024 (USD)

1.84 Billion

Market Size in 2028 (USD)

4.36 %

CAGR (2017-2023)

6.26 %

CAGR (2024-2028)

Largest Market by End-user Industry

36.65 %

value share, Packaging, 2023

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In Mexico, packaging is the dominant end-user industry due to the wide range of adhesive applications, including labels, tapes, carton sealing and joining, and laminating.

Fastest Growing Market by End-user Industry

9 %

Projected CAGR, Automotive, 2024-2028

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The automotive industry is expected to be the fastest-growing end-user segment in the market due to the rising demand for lightweight and high-impact resistant components to substitute traditional metal joints and fasteners.

Largest Market by Technology

31.68 %

value share, Water-borne, 2023

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Waterborne technology is an eco-friendly and economically viable solution that has obtained a significant market share due to its well-recognized usage in food packaging applications through emulsion and dispersion systems.

Largest Market by Resin

22.37 %

value share, Polyurethane, 2023

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Polyurethane is the largest resin-based adhesive owing to its wide applications in packaging, building construction, and automotive industries, both for exterior and interior applications.

Leading Market Player

13.42 %

market share, Henkel AG & Co. KGaA, 2021

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Henkel AG & Co. KGaA is the leading adhesives manufacturer in Mexico, which can be attributed to the popularity of its products in widespread industries, including building and construction, automotive, aerospace, and woodworking.

Increase in the use of adhesive in the construction industry to boost the market growth

  • Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper & cardboard packaging applications. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 77 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
  • Adhesives are majorly used in the construction industry in Mexico due to their diverse applications, such as assembling prefabricated blocks, roofing, plumbing, and flooring. The Mexican construction industry is likely to grow by 3.1% by 2025, owing to favourable government policies, such as the National Development Plan, propelling the construction adhesives demand in the coming years.
  • The Mexican healthcare industry has achieved significant growth in recent times. Healthcare expenditure as a share of GDP reached 6.2% in 2020 from 5.4% in 2019. Adhesives have widespread applications in healthcare, such as assembling and bonding medical device parts.
  • The automotive industry exhibits a decent share in the adhesives market because of their applicability to various substrates such as glass, metal, plastic, and painted surfaces. During the COVID-19 pandemic in 2020, automotive production decreased by 28% due to a shortage of raw materials and disruption of the supply chain, leading to a decrease in overall adhesive consumption. A range of applications of a variety of adhesives in the locomotive, marine, and DIY industries may boost the demand for required adhesives over the forecast period.
Mexico Adhesives Market

Mexico Adhesives Industry Segmentation

Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA are covered as segments by Resin.

  • Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper & cardboard packaging applications. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 77 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
  • Adhesives are majorly used in the construction industry in Mexico due to their diverse applications, such as assembling prefabricated blocks, roofing, plumbing, and flooring. The Mexican construction industry is likely to grow by 3.1% by 2025, owing to favourable government policies, such as the National Development Plan, propelling the construction adhesives demand in the coming years.
  • The Mexican healthcare industry has achieved significant growth in recent times. Healthcare expenditure as a share of GDP reached 6.2% in 2020 from 5.4% in 2019. Adhesives have widespread applications in healthcare, such as assembling and bonding medical device parts.
  • The automotive industry exhibits a decent share in the adhesives market because of their applicability to various substrates such as glass, metal, plastic, and painted surfaces. During the COVID-19 pandemic in 2020, automotive production decreased by 28% due to a shortage of raw materials and disruption of the supply chain, leading to a decrease in overall adhesive consumption. A range of applications of a variety of adhesives in the locomotive, marine, and DIY industries may boost the demand for required adhesives over the forecast period.
End User Industry
Aerospace
Automotive
Building and Construction
Footwear and Leather
Healthcare
Packaging
Woodworking and Joinery
Other End-user Industries
Technology
Hot Melt
Reactive
Solvent-borne
UV Cured Adhesives
Water-borne
Resin
Acrylic
Cyanoacrylate
Epoxy
Polyurethane
Silicone
VAE/EVA
Other Resins
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Mexico Adhesives Market Size Summary

The Mexico adhesives market is poised for significant growth, driven by its extensive applications across various industries such as packaging, construction, healthcare, and automotive. The packaging industry, in particular, is a major consumer of adhesives due to the increasing demand for efficient bonding solutions in plastics, metals, and paper products. Waterborne adhesives are favored for their cost-effectiveness and strong bonding capabilities. The construction sector also contributes to the market's expansion, with adhesives being essential for tasks like assembling prefabricated blocks and roofing. Government initiatives, such as the National Development Plan, are expected to further boost the demand for construction adhesives. Additionally, the healthcare industry's growth, coupled with the rising need for medical device assembly, underscores the diverse applications of adhesives in this sector.

The automotive industry in Mexico, a significant contributor to the country's GDP, also plays a crucial role in the adhesives market. Despite challenges posed by the COVID-19 pandemic, such as supply chain disruptions and labor shortages, the sector is recovering, with electric vehicle production on the rise. The market is characterized by fragmentation, with key players like 3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, and Sika AG holding substantial shares. Recent developments, such as ITW Performance Polymers' launch of a new adhesive and Arkema Group's acquisition of Ashland's Performance Adhesives business, highlight ongoing innovation and strategic expansions within the market. The interplay of these factors is expected to sustain the growth trajectory of the Mexico adhesives market in the coming years.

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Mexico Adhesives Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Footwear and Leather

      5. 1.1.5 Healthcare

      6. 1.1.6 Packaging

      7. 1.1.7 Woodworking and Joinery

      8. 1.1.8 Other End-user Industries

    2. 1.2 Technology

      1. 1.2.1 Hot Melt

      2. 1.2.2 Reactive

      3. 1.2.3 Solvent-borne

      4. 1.2.4 UV Cured Adhesives

      5. 1.2.5 Water-borne

    3. 1.3 Resin

      1. 1.3.1 Acrylic

      2. 1.3.2 Cyanoacrylate

      3. 1.3.3 Epoxy

      4. 1.3.4 Polyurethane

      5. 1.3.5 Silicone

      6. 1.3.6 VAE/EVA

      7. 1.3.7 Other Resins

Mexico Adhesives Market Size FAQs

The Mexico Adhesives Market size is expected to reach USD 1.44 billion in 2024 and grow at a CAGR of 6.26% to reach USD 1.84 billion by 2028.

In 2024, the Mexico Adhesives Market size is expected to reach USD 1.44 billion.

Mexico Adhesives Market Report Snapshots

Mexico Adhesives Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028