Thailand Adhesives and Sealants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.02 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Adhesives and Sealants Market Analysis
The Thailand adhesives and sealants market was valued at more than USD 220 million and is projected to grow at a CAGR of more than 6% during the forecast period (2022-2027).
The spread of covid-19 in the region impacted the automotive sector of the country due to long lockdowns and the shortage of raw materials in the country.
- Over the short term, major factors driving the market studied are increasing demand from the packaging industry and shifting focus towards adhesive bonding for composite materials in the country.
- On the flip side, stringent environmental regulations regarding VOC emissions and the negative impact of COVID-19 are hindering the market's growth.
- Increasing demand for bio-based adhesives is expected to offer various opportunities for the market's growth over the forecast period.
Thailand Adhesives and Sealants Market Trends
This section covers the major market trends shaping the Thailand Adhesives & Sealants Market according to our research experts:
Paper, Board, and Packaging Segment to Dominate the Market
- The packaging industry is one of the largest end-users of adhesives. Some of the applications include bags, cigarettes and filters, cartons' side seams and closures, composite containers and tubes, disposables, envelopes, flexible packaging, products, labels/signs/decals, specialty packaging, and corrugated boards, among others. Paper board printing houses use adhesives for books.
- There are around 2,000 printing houses in Thailand, most of which are small- to medium-scale. Large-scale establishments account for less than 1% of the total number. Thousands of establishments are involved in the packaging industry.
- The food processing sector is the largest user of flexible packaging, accounting for more than 50% of the total demand.
- The growing demand for corrugated packaging in the country is mainly due to the continued and increasing demand for packaged food and beverages.
- Additionally, there is a considerable increase in the demand for small-scale folding cartons and packaging from the beauty and personal care industry.According to export.gov, Thailand's beauty and personal care products market is expected to reach USD 8.0 billion by 2022. Such growth in the demand for adhesives used in expensive packaging, from beauty and cosmetics industry, is driving the studied market.
- Overall, the demand growth for adhesives from the packaging industry is expected to be moderate to high during the forecast period
Silicone Segment to Dominate the Sealants Market
- Silicones are versatile polymers. These are designed to provide permanent and temporary bonding to surfaces, such as glass, metal, and stone. Primers are required for the optimal adhesion of silicone sealants, although primers are often not necessary.
- The silicone sealants work effectively in harsh environments, across a wide temperature range, in situations involving abrasion, and under climatic changes. Hence, they are water-, chemical-, and temperature-resistant, flexible, and deliver outstanding performance.
- The major end-user industries for these sealants are electronics and electrical, automotive, aerospace, and building and construction. Some of the most common uses of silicone adhesives are for basic repairs around the house.
- The demand for these sealants is expected to increase in the electronic automotive sector, construction, and electronic devices, as silicone is used to seal cables and sensors into place, and due to its property to withstand extreme temperatures. Furthermore, in the building and construction sector, its usage is increasing as silicone sealants can be used even in extreme weather conditions.
- Thus, from the factors mentioned above, the demand for silicone sealants are expected to grow over the forecast period.
Thailand Adhesives and Sealants Industry Overview
Thailand adhesives and sealants market is consolidated in terms of revenue. The top five players account for a combined share of around 70%, making the market highly competitive. However, the presence of other local players is creating a competitive environment in the market. The major companies include Henkel (Thailand) Ltd, Selic Corp Public Company Limited, Covestro AG, Bostik (Arkem Group), and H.B. Fuller (Thailand) Co. Ltd., among others.
Thailand Adhesives and Sealants Market Leaders
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Henkel (Thailand) Ltd
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Selic Corp Public Company Limited
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H.B. Fuller (Thailand) Co. Ltd
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Covestro AG
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Bostik (Arkema Group)
*Disclaimer: Major Players sorted in no particular order
Thailand Adhesives and Sealants Market News
- In August 2020, WACKER started a partnership with H.M. Royal company to include silicones for medical applications. SILPURAN portfolio consists of specifically designed applications, such as wound dressings, medical adhesives, gels, and others.
- In August 2020, Momentive Performance Materials, a leading supplier of silicone-based and other specialty chemical products, announced that as part of a new business plan, it entered into an agreement to sell its Consumer Sealants division to Henkel, a global manufacturer of adhesives, detergents, and other consumer products.
Thailand Adhesives and Sealants Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand from Packaging Industry
- 4.1.2 Shifting Focus Towards Adhesive Bonding for Composite Materials
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4.2 Restraints
- 4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
- 4.2.2 COVID-19 Impact
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Adhesives
- 5.1.1 Technology
- 5.1.1.1 Water-borne
- 5.1.1.1.1 Acrylics
- 5.1.1.1.2 Polyvinyl Acetate (PVA) Emulsion
- 5.1.1.1.3 Ethylene Vinyl Acetate (EVA) Emulsion
- 5.1.1.1.4 Other Water-borne Adhesives
- 5.1.1.2 Solvent-borne
- 5.1.1.2.1 Styrene-butadiene Rubber (SBR)
- 5.1.1.2.2 Chloroprene Rubber
- 5.1.1.2.3 Poly Acrylate (PA)
- 5.1.1.2.4 Other Solvent-borne Adhesives
- 5.1.1.3 Reactive
- 5.1.1.3.1 Epoxy
- 5.1.1.3.2 Cyanoacrylate
- 5.1.1.3.3 Silicone
- 5.1.1.3.4 Polyurethane
- 5.1.1.3.5 Other Reactive Adhesives
- 5.1.1.4 Hot-Melt
- 5.1.1.4.1 Thermoplastic Polyurethane
- 5.1.1.4.2 Ethylene Vinyl Acetate
- 5.1.1.4.3 Styrenic-butadiene Copolymers
- 5.1.1.4.4 Other Hot-melt Adhesives
- 5.1.1.5 Other Adhesive Technologies
- 5.1.2 End-user Industry
- 5.1.2.1 Buildings and Construction
- 5.1.2.2 Paper, Board, and Packaging
- 5.1.2.3 Transportation
- 5.1.2.4 Footwear and Leather
- 5.1.2.5 Healthcare
- 5.1.2.6 Electrical and Electronics
- 5.1.2.7 Other End-user Industries
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5.2 Sealants
- 5.2.1 Product Type
- 5.2.1.1 Silicone
- 5.2.1.2 Polyurethane
- 5.2.1.3 Acrylic
- 5.2.1.4 Other Sealant Product Types
- 5.2.2 End-user Industry
- 5.2.2.1 Buildings and Construction
- 5.2.2.2 Transportation
- 5.2.2.3 Healthcare
- 5.2.2.4 Electrical and Electronics
- 5.2.2.5 Other End-user Industries
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Anabond Limited
- 6.4.3 AVERY DENNISON CORPORATION
- 6.4.4 Beardow Adams
- 6.4.5 Bond Chemicals Company Limited
- 6.4.6 Bostik
- 6.4.7 CEMEDINE Co. Ltd
- 6.4.8 Covestro AG
- 6.4.9 Dow
- 6.4.10 DUNLOP ADHESIVES (THAILAND) CO. LTD
- 6.4.11 H.B. Fuller (Thailand) Co. Ltd
- 6.4.12 Henkel (Thailand) Ltd
- 6.4.13 Huntsman International LLC
- 6.4.14 Jowat (Thailand) Co. Ltd
- 6.4.15 Lord Corporation (Parker Hannifin Corp)
- 6.4.16 MORESCO (THAILAND) CO. LTD
- 6.4.17 Selic Corp. Public Company Limited
- 6.4.18 Siam Industry Adhesive Tapes Co. Ltd
- 6.4.19 Sika Thailand
- 6.4.20 Star Bond (Thailand) Company Limited
- 6.4.21 Thai Mitsui Specialty Chemicals Co. Ltd
- 6.4.22 TOAGOSEI (THAILAND) CO. LTD
- 6.4.23 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing demand for Bio-based Adhesives
Thailand Adhesives and Sealants Industry Segmentation
The Thailand adhesives and sealants market is segmented by Adhesives and Sealants. The adhesives market is segmented by technology and end-user industry. By technology, the market is segmented by Water-borne, Solvent-borne, Reactive, Hot Melt, and Other Technologies. On the basis of end-user industry, the market is segmented by (Building and Construction, Paper, Board, and Packaging, Transportation, Footwear and Leather, Healthcare, Electrical and Electronics, and Other End-user Industries. Sealants are segmented on the basis of product type and end-user industry. By product type, the market is segmented by Silicone, Polyurethane, Acrylic, and Other Sealant Product Types. Based on end-user industry, the market is segmented by Building and Construction, Transportation, Healthcare, Electrical and Electronics, and Other End-user Industries. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) and volume (kilotons).
| Adhesives | Technology | Water-borne | Acrylics |
| Polyvinyl Acetate (PVA) Emulsion | |||
| Ethylene Vinyl Acetate (EVA) Emulsion | |||
| Other Water-borne Adhesives | |||
| Adhesives | Technology | Solvent-borne | Styrene-butadiene Rubber (SBR) |
| Chloroprene Rubber | |||
| Poly Acrylate (PA) | |||
| Other Solvent-borne Adhesives | |||
| Adhesives | Technology | Reactive | Epoxy |
| Cyanoacrylate | |||
| Silicone | |||
| Polyurethane | |||
| Other Reactive Adhesives | |||
| Adhesives | Technology | Hot-Melt | Thermoplastic Polyurethane |
| Ethylene Vinyl Acetate | |||
| Styrenic-butadiene Copolymers | |||
| Other Hot-melt Adhesives | |||
| Adhesives | Technology | Other Adhesive Technologies | |
| Adhesives | End-user Industry | Buildings and Construction | |
| Paper, Board, and Packaging | |||
| Transportation | |||
| Footwear and Leather | |||
| Healthcare | |||
| Electrical and Electronics | |||
| Other End-user Industries | |||
| Sealants | Product Type | Silicone | |
| Polyurethane | |||
| Acrylic | |||
| Other Sealant Product Types | |||
| Sealants | End-user Industry | Buildings and Construction | |
| Transportation | |||
| Healthcare | |||
| Electrical and Electronics | |||
| Other End-user Industries |
Thailand Adhesives and Sealants Market Research FAQs
What is the current Thailand Adhesives and Sealants Market size?
The Thailand Adhesives and Sealants Market is projected to register a CAGR of 6.02% during the forecast period (2024-2029)
Who are the key players in Thailand Adhesives and Sealants Market?
Henkel (Thailand) Ltd, Selic Corp Public Company Limited, H.B. Fuller (Thailand) Co. Ltd, Covestro AG and Bostik (Arkema Group) are the major companies operating in the Thailand Adhesives and Sealants Market.
What years does this Thailand Adhesives and Sealants Market cover?
The report covers the Thailand Adhesives and Sealants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Adhesives and Sealants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thailand Adhesive Industry Report
The Thailand Adhesives and Sealants Market report provides a comprehensive industry analysis and industry overview. The market research includes a detailed market segmentation by adhesive technology and end-user industry, as well as by sealant product type and end-user industry. The industry report highlights the market size and market share, offering insights into the industry growth and market growth.
The report also includes a market forecast and market outlook, providing an industry forecast for the coming years. This industry analysis is supported by market data and industry statistics, making it a valuable resource for understanding the market trends and market value. The industry research covers the largest companies in the market, offering a detailed market review and market predictions.
Additionally, the report features industry information on the market leaders and provides a report pdf for further reference. The industry reports and research companies involved in the study ensure that the market overview is thorough and up-to-date. The market segmentation includes various technologies and end-user industries, giving a clear picture of the market structure.
The industry outlook and industry trends are discussed in detail, providing insights into the future of the market. The report also includes sales data and sales forecast, which are crucial for understanding the market dynamics. The market statistics and market value are presented in a clear and concise manner, making the report easy to understand.
Overall, the Thailand Adhesives and Sealants Market report is a valuable resource for anyone looking to gain a deep understanding of the market. The report example and report pdf provided offer a comprehensive view of the market, backed by thorough industry research and market data.
