Market Size of Southeast Asia Adhesives and Sealants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Adhesives and Sealants Market Analysis
Southeast Asia's adhesives and sealants market is currently estimated at USD 3 billion. It is expected to reach USD 4.11 billion over the forecast period, registering a CAGR of over 6.5% during the forecast period.
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- The demand for adhesives and sealants is extensively driven by the growing demand from the construction industry and increasing application in the packaging industry.
- However, the growth is likely to be hindered by the stringent VOC emissions regulations related to adhesives and sealants.
- The innovation and development of bio-based adhesives and shifting focus toward adhesive bonding for composite materials will likely offer opportunities for the adhesives and sealants market.
- Indonesia is the region's largest market for adhesives and sealants, where the end-user industries, such as construction, electronics, and packaging, drive consumption.
