Latin America Primers in Construction Market – Industry Trends and Forecast to 2030

Latin America Primers in Construction Market Analysis and Size

Primer is a layer of coating applied to materials to give them a smooth surface by leveling out the surface before painting. It is occasionally also referred to as an undercoat. It protects the materials from paint, prevents moisture from penetrating the surface, prevents the paint from soaking into the substrate, and strengthens the connection while postponing paint wear outside the material.  Depending on the use, different ingredients are used to manufacture primers, such as biocides, which are given to wood to prevent the growth of form, and introductions for metals, which have an underlying enemy of destructive shadow to protect them from erosion. Residential and non-residential buildings and renovation are the principal uses of primers in construction.

Data Bridge Market Research analyzes that the Latin America primers in construction market, which was USD 22.34 million in 2022, would rocket up to USD 39.56 million by 2030, and is expected to undergo a CAGR of 7.4% during the forecast period. “Alkyd” dominates the material segment of the market as alkyd-based primers have high adherence due to which they are used in a wide variety of surfaces and also, they provide glossy surfaces that helps to boost their demand in the forecast year.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Latin America Primers in Construction Market Scope and Segmentation

Market Definition

A primer is utilized as a basic layer that is put on top of materials before painting to establish a stronger connection between the surface and the paint. Even if the adherence is better, the prime might also boost the paint's endurance and provide a layer of protection for the area being covered. Primer is used in all construction operations, regardless of the purposes for which a structure is used, as the need for buildings and businesses is fast rising for a variety of reasons across the world.

Latin America Primers in Construction Market Dynamics

Drivers

• Positive outlook toward surging residential construction

Government and industry statistics show that Colombia's supply of urban housing has been growing. The country's housing supply is short by more than 1.3 million dwellings, according to official figures, so it has not been able to keep up with demand. The government has put in place laws that support and incentivize building and housing investment to fulfill the demand. The construction boom in Colombia is the fastest-growing in the area.

Investors from the U.S., Europe, and Latin America are thinking about investing in Panama because of its great economic climate. It goes without saying that Mundo loves this little nation. It is the place where a team of experts agreed to start Mundo a while back. Panama has undergone a spectacular economic surge in recent decades. They gave the country's stability and low inflation rates, which are unique in Latin America, a continent prone to military coups, rampant inflation, and worthless currencies, the name "Panamanian Exceptionalism." Due to stable political conditions and liberal economic policies, the real estate sector is booming.  

• Lucrative development of infrastructure in hospitality

According to research by one of the sector's specialists, the hotel business in Latin America is going through a "major economic revolution" despite economic challenges. Demand for hotels is anticipated to be driven by consistent investment in both new and current hospitality projects. Mexico is the most developed nation in terms of its lodging sector, with a current hotel supply ratio (a measurement of the estimated relevant hotel rooms in a country per 1,000 population) of 2.6. Consistent corporate, tourist, and infrastructure investment will push up the hotel supply ratio to 3.8 during the following 10 years.  

In addition, considerable supply increases have been observed in Colombia as a result of tourism, general economic expansion, and particular tax incentives. Although the petroleum industry has suffered, Colombia is anticipated to continue to draw sustained investment over the coming ten years as it develops into a desirable business and travel destination. Despite having a relatively modest base of current stock, Peru has the greatest growth rate among the nations analyzed, with a significant increase rate in the supply of high-quality lodging over the next ten years.

Opportunities

• Increase production and product launch to meet consumer demand

Furthermore, rising technical developments by producers of primers in construction and increased diversification of major manufacturers' portfolios of sustainable products are expecected to extend profitable opportunities to the market players. In addition, opening new markets for the primer industry will further expand the future market growth. 

Restraints/Challenges

• Fluctuations in the cost of primer’s raw materials

On the other side, the main issue in the market is shifting crude material prices. Increased feedstock costs will directly impact the costs of all manufactured gums used in covering applications. Rising oil prices are expected in the future years. The basic components needed to create coatings and paints include resins, pigments, fillers, additives, and solvents. Pitches play a big role in the production of paints and coatings. Epoxy tars are used in the assembly of epoxy preliminary components. The market for primers will be impacted by expensive epoxy and various saps such as acrylic, alkyd, and urethane. These factors are projected to challenge the market in the forecast period of 2023-2030.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on this market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In August 2022- Stonepeak purchased Lumen Technologies' operations in Latin America from Lumen Technologies for USD 2.7 billion in cash. Stonepeak's Latin American affiliate Cirion conducts business as a stand-alone portfolio company. Stonepeak is a top alternative investment business that focuses on real estate and infrastructure, with roughly USD 49.3 billion in assets under management. Stonepeak wants to have a beneficial effect on the communities while also generating profit for its investors and portfolio firms
• In July 2022- The CAF-Development Bank of Latin America (CAF) and the United States Trade and Development Agency (USTDA) reaffirmed their partnership to pursue high-quality, long-term infrastructure projects in Latin America and the Caribbean. The USTDA and CAF have come to an agreement on a new collaborative action plan to accelerate sustainable energy, transportation, digital connectivity, climate, water, and environmental infrastructure projects across the region
• In November 2020, In order to better protect heat-sensitive woods and composites including medium-density fiberboard (MDF), hardwood, and plywood, PPG Industries, Inc. has developed a new powder coating called ENVIROCRON. The introduction of the new items broadens the company's product line and boosts sales

Latin America Primers in Construction Market Scope

The Latin America primers in construction market is segmented into four notable segments based on material, surface, type, and end-use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Alkyd
• Epoxy
• Polyurethane
• Acrylic
• Others

Surface

• Cement
• Concrete
• Plaster
• Metal
• Plastic
• Wood
• Flooring tiles
• Others

Type

• Water-based
• Solvent-based

End-Use

• New residential construction
• New non-residential construction
• New civil engineering
• Civil engineering renovation
• Non-residential renovation
• Residential renovation

Latin America Primers in Construction Market Regional Analysis/Insights

The Latin America primers in construction market is analyzed and market size insights and trends are provided by country, material, surface, type, and end-use, as referenced above.

The countries covered in this market report are U.S., Colombia, and Mexico.

The U.S. dominates the Latin America primers in construction market owing to the rising number of construction activities in the country and the growing demand for primers in new residential construction.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Primers in construction Market Share Analysis

The Latin America primers in construction market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the Latin America primers in construction market are:

• PPG Industries, Inc. (U.S.)
• The Sherwin-Williams Company (U.S.)
• Akzo Nobel N.V. (Netherlands)
• RPM International Inc. (U.S.)
• Axalta Coating Systems (U.S.)
• BASF SE (Germany)
• Jotun (Norway)
• Kansai Paint Co.,Ltd. (Japan)
• Henkel AG & Co. KGaA (Germany)
• Tikkurila (Finland)
• Hempel A/S (Denmark)
• Nippon Paint Holdings Co., Ltd. (Japan)

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