Thailand Adhesives and Sealants Market Size (2024 - 2029)

The Thailand adhesives and sealants market is experiencing growth driven by rising demand from the packaging industry and a shift towards adhesive bonding for composite materials. However, the market's expansion is challenged by stringent environmental regulations on VOC emissions and the lingering effects of COVID-19. Despite these challenges, the increasing interest in bio-based adhesives presents opportunities for further growth in the market size over the forecast period.

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Market Size of Thailand Adhesives and Sealants Industry

Thailand Adhesive Market Summary
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

Thailand Adhesive Market Major Players

*Disclaimer: Major Players sorted in no particular order

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).

Adhesives
Technology
Water-borne
Acrylics
Polyvinyl Acetate (PVA) Emulsion
Ethylene Vinyl Acetate (EVA) Emulsion
Other Water-borne Adhesives
Solvent-borne
Styrene-butadiene Rubber (SBR)
Chloroprene Rubber
Poly Acrylate (PA)
Other Solvent-borne Adhesives
Reactive
Epoxy
Cyanoacrylate
Silicone
Polyurethane
Other Reactive Adhesives
Hot-Melt
Thermoplastic Polyurethane
Ethylene Vinyl Acetate
Styrenic-butadiene Copolymers
Other Hot-melt Adhesives
Other Adhesive Technologies
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
End-user Industry
Buildings and Construction
Transportation
Healthcare
Electrical and Electronics
Other End-user Industries
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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.

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Thailand Adhesives and Sealants Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Packaging Industry

      2. 1.1.2 Shifting Focus Towards Adhesive Bonding for Composite Materials

    2. 1.2 Restraints

      1. 1.2.1 Stringent Environmental Regulations Regarding VOC Emissions

      2. 1.2.2 COVID-19 Impact

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Adhesives

      1. 2.1.1 Technology

        1. 2.1.1.1 Water-borne

          1. 2.1.1.1.1 Acrylics

          2. 2.1.1.1.2 Polyvinyl Acetate (PVA) Emulsion

          3. 2.1.1.1.3 Ethylene Vinyl Acetate (EVA) Emulsion

          4. 2.1.1.1.4 Other Water-borne Adhesives

        2. 2.1.1.2 Solvent-borne

          1. 2.1.1.2.1 Styrene-butadiene Rubber (SBR)

          2. 2.1.1.2.2 Chloroprene Rubber

          3. 2.1.1.2.3 Poly Acrylate (PA)

          4. 2.1.1.2.4 Other Solvent-borne Adhesives

        3. 2.1.1.3 Reactive

          1. 2.1.1.3.1 Epoxy

          2. 2.1.1.3.2 Cyanoacrylate

          3. 2.1.1.3.3 Silicone

          4. 2.1.1.3.4 Polyurethane

          5. 2.1.1.3.5 Other Reactive Adhesives

        4. 2.1.1.4 Hot-Melt

          1. 2.1.1.4.1 Thermoplastic Polyurethane

          2. 2.1.1.4.2 Ethylene Vinyl Acetate

          3. 2.1.1.4.3 Styrenic-butadiene Copolymers

          4. 2.1.1.4.4 Other Hot-melt Adhesives

        5. 2.1.1.5 Other Adhesive Technologies

      2. 2.1.2 End-user Industry

        1. 2.1.2.1 Buildings and Construction

        2. 2.1.2.2 Paper, Board, and Packaging

        3. 2.1.2.3 Transportation

        4. 2.1.2.4 Footwear and Leather

        5. 2.1.2.5 Healthcare

        6. 2.1.2.6 Electrical and Electronics

        7. 2.1.2.7 Other End-user Industries

    2. 2.2 Sealants

      1. 2.2.1 Product Type

        1. 2.2.1.1 Silicone

        2. 2.2.1.2 Polyurethane

        3. 2.2.1.3 Acrylic

        4. 2.2.1.4 Other Sealant Product Types

      2. 2.2.2 End-user Industry

        1. 2.2.2.1 Buildings and Construction

        2. 2.2.2.2 Transportation

        3. 2.2.2.3 Healthcare

        4. 2.2.2.4 Electrical and Electronics

        5. 2.2.2.5 Other End-user Industries

Thailand Adhesives and Sealants Market Size FAQs

The Thailand Adhesives and Sealants Market is projected to register a CAGR of 6.02% during the forecast period (2024-2029)

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.

Thailand Adhesive Market Report Snapshots

Thailand Adhesive Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)