Market Size of Thailand Adhesives and Sealants Industry
| 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 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).
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Thailand Adhesives and Sealants Market Size Summary
The Thailand adhesives and sealants market is experiencing a dynamic phase, driven by increasing demand from the packaging industry and a shift towards adhesive bonding for composite materials. The packaging sector, a significant end-user, utilizes adhesives in various applications such as flexible packaging, corrugated boards, and specialty packaging, with the food processing and beauty industries being major contributors to this demand. Despite challenges posed by stringent environmental regulations and the lingering effects of the COVID-19 pandemic, the market is poised for growth, particularly with the rising interest in bio-based adhesives. The versatility of silicones, used extensively in electronics, automotive, and construction sectors, further bolsters market prospects, as their properties make them ideal for harsh environments.
The competitive landscape of the Thailand adhesives and sealants market is characterized by a consolidated revenue structure, with major players like Henkel (Thailand) Ltd, Selic Corp Public Company Limited, and H.B. Fuller (Thailand) Co. Ltd. dominating the scene. These companies, along with others, are navigating a competitive environment shaped by both local and international players. Strategic partnerships and acquisitions, such as WACKER's collaboration with H.M. Royal and Momentive Performance Materials' agreement with Henkel, highlight ongoing efforts to expand product offerings and market reach. As the demand for innovative and high-performance adhesives continues to rise, the market is expected to maintain its growth trajectory over the forecast period.
Thailand Adhesives and Sealants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Packaging Industry
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1.1.2 Shifting Focus Towards Adhesive Bonding for Composite Materials
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1.2 Restraints
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1.2.1 Stringent Environmental Regulations Regarding VOC Emissions
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1.2.2 COVID-19 Impact
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Adhesives
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2.1.1 Technology
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2.1.1.1 Water-borne
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2.1.1.1.1 Acrylics
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2.1.1.1.2 Polyvinyl Acetate (PVA) Emulsion
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2.1.1.1.3 Ethylene Vinyl Acetate (EVA) Emulsion
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2.1.1.1.4 Other Water-borne Adhesives
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2.1.1.2 Solvent-borne
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2.1.1.2.1 Styrene-butadiene Rubber (SBR)
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2.1.1.2.2 Chloroprene Rubber
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2.1.1.2.3 Poly Acrylate (PA)
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2.1.1.2.4 Other Solvent-borne Adhesives
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2.1.1.3 Reactive
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2.1.1.3.1 Epoxy
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2.1.1.3.2 Cyanoacrylate
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2.1.1.3.3 Silicone
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2.1.1.3.4 Polyurethane
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2.1.1.3.5 Other Reactive Adhesives
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2.1.1.4 Hot-Melt
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2.1.1.4.1 Thermoplastic Polyurethane
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2.1.1.4.2 Ethylene Vinyl Acetate
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2.1.1.4.3 Styrenic-butadiene Copolymers
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2.1.1.4.4 Other Hot-melt Adhesives
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2.1.1.5 Other Adhesive Technologies
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2.1.2 End-user Industry
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2.1.2.1 Buildings and Construction
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2.1.2.2 Paper, Board, and Packaging
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2.1.2.3 Transportation
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2.1.2.4 Footwear and Leather
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2.1.2.5 Healthcare
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2.1.2.6 Electrical and Electronics
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2.1.2.7 Other End-user Industries
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2.2 Sealants
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2.2.1 Product Type
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2.2.1.1 Silicone
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2.2.1.2 Polyurethane
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2.2.1.3 Acrylic
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2.2.1.4 Other Sealant Product Types
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2.2.2 End-user Industry
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2.2.2.1 Buildings and Construction
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2.2.2.2 Transportation
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2.2.2.3 Healthcare
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2.2.2.4 Electrical and Electronics
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2.2.2.5 Other End-user Industries
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Thailand Adhesives and Sealants Market Size 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.
