Thailand Adhesives Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028

The Thailand Adhesives Market is segmented by End User Industry (Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery), by Technology (Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne) and by Resin (Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA). Market Value in USD and Volume in tons are both presented. Key Data Points observed include the volume of automobile production, plastic and paper and paperboard packaging production, new construction floor area, aircraft production and deliveries.

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Thailand Adhesives Market Size

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Thailand Adhesives Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2028
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 629.75 Million
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2028) USD 788.46 Million
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User Industry Packaging
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2028) 5.78 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by End User Industry Woodworking and Joinery

Major Players
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*Disclaimer: Major Players sorted in alphabetical order.

Key Players

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Thailand Adhesives Market Analysis

The Thailand Adhesives Market size is estimated at 629.75 million USD in 2024, and is expected to reach 788.46 million USD by 2028, growing at a CAGR of 5.78% during the forecast period (2024-2028).

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629.75 Million

Market Size in 2024 (USD)

788.46 Million

Market Size in 2028 (USD)

5.14 %

CAGR (2017-2023)

5.78 %

CAGR (2024-2028)

Largest Market by End-user Industry

27.67 %

value share, Packaging, 2023

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The packaging industry holds the largest market share owing to its widespread applications, including labels, tapes, carton sealing, and joining.

Fastest Growing Market by End-user Industry

12.85 %

Projected CAGR, Woodworking and Joinery, 2024-2028

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The aerospace industry is likely to register the fastest growth over the forecast period owing to the rapid expansion of general aviation for the domestic market.

Largest Market by Technology

29.62 %

value share, Hot Melt, 2023

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In Thailand, hot melt adhesives account for the highest market share owing to their easy application, non-toxic, and fast curing processes across industries.

Largest Market by Resin

24.72 %

value share, Polyurethane, 2023

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The polyurethane adhesives segment holds the largest share owing to their wide applications in building and construction, woodworking, and automotive industries, specifically for exterior applications.

Leading Market Player

17.23 %

market share, Henkel AG & Co. KGaA, 2021

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Henkel is the leading adhesives manufacturer in Thailand owing to the popularity of its products in widespread industries, including building and construction, automotive, aerospace, and woodworking.

Thailand's Automotive industry having a significant role in the overall growth of adhesive's demand in the country

  • The consumption of adhesives declined in 2020 by about 11.6% compared to 2019 due to the COVID-19 pandemic, which severely affected the consumption of adhesives in Thailand owing to the closedown of the manufacturing sites and reduction in demand. The lockdown in the country for nearly three months resulted in supply chain disruptions and labor shortages. However, consumption registered growth in 2021 with a positive growth rate of about 10% due to steady demand from the manufacturing sector.
  • Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper and cardboard packaging applications. Water-borne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength, which is required in these applications. Nearly 26 thousand tons of water-borne adhesives were consumed in the Thai packaging industry in 2021. Solvent-borne adhesives are the fastest-growing technology in the packaging industry, and the segment is expected to register a CAGR of 2.37% from 2022 to 2028.
  • The automotive industry is the second-largest consumer of adhesives in Thailand. The automotive adhesives market grew by 16.62% in 2021, as the country's total vehicle manufacturing capacity reached 1.68 million units, up by 18% from the previous year. The rising demand for Thailand's automotive exports in the international market is expected to drive the demand for automotive adhesives over the coming years. The automotive export value reached USD 41.43 billion in 2021.
Thailand Adhesives Market

Thailand Adhesives Market Trends

Growing demand for plastic packaging in food, cosmetics, and other industries will propel the packaging industry

  • Thailand registered a GDP of USD 7,450 per capita with a growth rate of 3.3% Y-O-Y in 2022. The packaging industry contributes a share of around 1.91 of the country's GDP. Trade exchange, employment, labor charges, government policy support, etc., affect the Thai packaging industry.
  • The country observed an economic slowdown in 2020 because of the COVID-19 pandemic. Production volume declined by 4.74% in the same year compared to 2019. This happened due to supply chain disruptions, labor shortages, and a lockdown in the country for nearly three months. However, because of economic recovery in the country in line with international borders being opened in 2021, the regular supply of raw materials began for production, which increased by 7,900 ton in 2021.
  • Thailand is one of the major manufacturing countries in the global plastic packaging market. The plastic packaging industry reaches USD 5 billion annually, the highest among other types of packaging. Around 28% of the country's plastic production is used in plastic packaging products. This packaging is majorly used in food, healthcare, cosmetics, and many other types of products in Thailand.
  • The usage of bioplastics in the packaging industry of Thailand is increasing. The government has also prioritized the bioplastic industry's development through policies such as the Plastic Waste Management Roadmap (2018-2030). GC and Cargill are two multinational biopolymer companies that have announced plans to invest USD 20 billion in establishing new bioplastic plants in Thailand.
Thailand Adhesives Market

Nearly 50.1% share of the overall automotive production among the ASEAN countries is likely to drive the industry in Thailand

  • The Thai automobile sector has grown tremendously over the last 50 years. The country is constantly advancing its next-generation automotive industry to follow the S-Curve promotion with better value-added production, and it also aims for the automotive industrial policy to be aligned with the environmental protection policy. Thailand is the largest auto producer in the ASEAN region. In 2020, production totaled 1,427,074 units, accounting for 50.1% of total ASEAN production. This was followed by Indonesia (690,150 units, or approximately 24.2%) and Malaysia (485,186 units, or approximately 17.0%).
  • In 2019, the country recorded about 20.13,710 units of vehicles produced, which drastically reduced to 14,27,074 units in 2020, accounting for a decline of about 29% owing to the COVID-19 pandemic. As a result, the variation in automotive production between 2019 and 2021 amounted to about -16%, whereas between 2020 and 2021, the variation was recorded at about -1%.
  • Thailand, ranked as the 11th largest automotive producer in the world and the first in ASEAN, is poised to become ASEAN's EV center, owing to its well-established value chain, which provides the industry with top-notch quality products at a competitive price. Thailand's EV stock has been steadily increasing in response to local demand. More importantly, several well-known Thai corporations have been actively investing in EV charging infrastructure around the country, indicating rising confidence in future demand increases. Efforts by governmental and private sector institutions to increase EV infrastructure, such as charging stations, suggest that Thailand's EV ecosystem is developing rapidly.
Thailand Adhesives Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Increasing number of domestic and international passengers will boost the aerospace industry
  • Rising demand for eco-friendly and affordable shoes from local manufacturers will sustain the industry growth
  • Increasing spending on public infrastructure projects is likely to facilitate the growth of construction sector
  • Sustainable growth of furniture industry will augment the industry size

Thailand Adhesives Industry Overview

The Thailand Adhesives Market is fragmented, with the top five companies occupying 29.77%. The major players in this market are 3M, Dow, H.B. Fuller Company, Henkel AG & Co. KGaA and Selic Corp Public Company Limited. (sorted alphabetically).

Thailand Adhesives Market Leaders

  1. 3M

  2. Dow

  3. H.B. Fuller Company

  4. Henkel AG & Co. KGaA

  5. Selic Corp Public Company Limited.

Thailand Adhesives Market Concentration

Other important companies include Arkema Group, DUNLOP ADHESIVES (THAILAND) CO., LTD., Huntsman International LLC, Sika AG, Star Bond (Thailand) Company Limited.

*Disclaimer: Major Players sorted in alphabetical order.

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Thailand Adhesives Market News

  • December 2021: Under the Nuplaviva brand, Arkema introduced a new range of disposable hygiene adhesive solutions formulated with bio-based renewable content.
  • October 2021: 3M introduced a new generation of acrylic adhesives, including 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series, and 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS.
  • September 2021: Henkel launched its newly developed solvent-free and zero-VOC adhesive range for rubber lining.

Free with this Report

We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.

Thailand Adhesives Market
Thailand Adhesives Market
Thailand Adhesives Market
Thailand Adhesives Market

Thailand Adhesives Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study​

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. End User Trends

      1. 2.1.1. Aerospace

      2. 2.1.2. Automotive

      3. 2.1.3. Building and Construction

      4. 2.1.4. Footwear and Leather

      5. 2.1.5. Packaging

      6. 2.1.6. Woodworking and Joinery

    2. 2.2. Regulatory Framework

      1. 2.2.1. Thailand

    3. 2.3. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 3.1. End User Industry

      1. 3.1.1. Aerospace

      2. 3.1.2. Automotive

      3. 3.1.3. Building and Construction

      4. 3.1.4. Footwear and Leather

      5. 3.1.5. Healthcare

      6. 3.1.6. Packaging

      7. 3.1.7. Woodworking and Joinery

      8. 3.1.8. Other End-user Industries

    2. 3.2. Technology

      1. 3.2.1. Hot Melt

      2. 3.2.2. Reactive

      3. 3.2.3. Solvent-borne

      4. 3.2.4. UV Cured Adhesives

      5. 3.2.5. Water-borne

    3. 3.3. Resin

      1. 3.3.1. Acrylic

      2. 3.3.2. Cyanoacrylate

      3. 3.3.3. Epoxy

      4. 3.3.4. Polyurethane

      5. 3.3.5. Silicone

      6. 3.3.6. VAE/EVA

      7. 3.3.7. Other Resins

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).

      1. 4.4.1. 3M

      2. 4.4.2. Arkema Group

      3. 4.4.3. Dow

      4. 4.4.4. DUNLOP ADHESIVES (THAILAND) CO., LTD.

      5. 4.4.5. H.B. Fuller Company

      6. 4.4.6. Henkel AG & Co. KGaA

      7. 4.4.7. Huntsman International LLC

      8. 4.4.8. Selic Corp Public Company Limited.

      9. 4.4.9. Sika AG

      10. 4.4.10. Star Bond (Thailand) Company Limited

  7. 5. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS

  8. 6. APPENDIX

    1. 6.1. Global Adhesives and Sealants Industry Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter’s Five Forces Framework (Industry Attractiveness Analysis)

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Drivers, Restraints, and Opportunities

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. VOLUME OF AIRCRAFTS DELIVERED, UNITS, THAILAND, 2017-2028
  1. Figure 2:  
  2. PRODUCTION VOLUME OF AUTOMOBILES, UNITS, THAILAND, 2017-2028
  1. Figure 3:  
  2. FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, THAILAND, 2017-2028
  1. Figure 4:  
  2. PRODUCTION VOLUME OF FOOTWEAR, PAIRS, THAILAND, 2017-2028
  1. Figure 5:  
  2. PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, THAILAND, 2017-2028
  1. Figure 6:  
  2. PRODUCTION VOLUME OF FURNITURE, UNITS, THAILAND, 2017-2028
  1. Figure 7:  
  2. VOLUME OF CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 8:  
  2. VALUE OF CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 9:  
  2. VOLUME OF ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 10:  
  2. VALUE OF ADHESIVES CONSUMED BY END USER INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 11:  
  2. VOLUME SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2022 VS 2028
  1. Figure 12:  
  2. VALUE SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2022 VS 2028
  1. Figure 13:  
  2. VOLUME OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 14:  
  2. VALUE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 15:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 16:  
  2. VOLUME OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 17:  
  2. VALUE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 18:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 19:  
  2. VOLUME OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 20:  
  2. VALUE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 21:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 22:  
  2. VOLUME OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 23:  
  2. VALUE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 24:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 25:  
  2. VOLUME OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 26:  
  2. VALUE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 27:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 28:  
  2. VOLUME OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 29:  
  2. VALUE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 30:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 31:  
  2. VOLUME OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 32:  
  2. VALUE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 33:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 34:  
  2. VOLUME OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 35:  
  2. VALUE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, THAILAND, 2017 - 2028
  1. Figure 36:  
  2. VALUE SHARE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, THAILAND, 2021 VS 2028
  1. Figure 37:  
  2. VOLUME OF ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 38:  
  2. VALUE OF ADHESIVES CONSUMED BY TECHNOLOGY, USD, THAILAND, 2017 - 2028
  1. Figure 39:  
  2. VOLUME SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, THAILAND, 2022 VS 2028
  1. Figure 40:  
  2. VALUE SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, THAILAND, 2022 VS 2028
  1. Figure 41:  
  2. VOLUME OF HOT MELT ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 42:  
  2. VALUE OF HOT MELT ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 43:  
  2. VALUE SHARE OF HOT MELT ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2021 VS 2028
  1. Figure 44:  
  2. VOLUME OF REACTIVE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 45:  
  2. VALUE OF REACTIVE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 46:  
  2. VALUE SHARE OF REACTIVE ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2021 VS 2028
  1. Figure 47:  
  2. VOLUME OF SOLVENT-BORNE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 48:  
  2. VALUE OF SOLVENT-BORNE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 49:  
  2. VALUE SHARE OF SOLVENT-BORNE ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2021 VS 2028
  1. Figure 50:  
  2. VOLUME OF UV CURED ADHESIVES ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 51:  
  2. VALUE OF UV CURED ADHESIVES ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 52:  
  2. VALUE SHARE OF UV CURED ADHESIVES ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2021 VS 2028
  1. Figure 53:  
  2. VOLUME OF WATER-BORNE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 54:  
  2. VALUE OF WATER-BORNE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 55:  
  2. VALUE SHARE OF WATER-BORNE ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2021 VS 2028
  1. Figure 56:  
  2. VOLUME OF ADHESIVES CONSUMED BY RESIN, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 57:  
  2. VALUE OF ADHESIVES CONSUMED BY RESIN, USD, THAILAND, 2017 - 2028
  1. Figure 58:  
  2. VOLUME SHARE OF ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2022 VS 2028
  1. Figure 59:  
  2. VALUE SHARE OF ADHESIVES CONSUMED BY RESIN, %, THAILAND, 2022 VS 2028
  1. Figure 60:  
  2. VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 61:  
  2. VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 62:  
  2. VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 63:  
  2. VOLUME OF CYANOACRYLATE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 64:  
  2. VALUE OF CYANOACRYLATE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 65:  
  2. VALUE SHARE OF CYANOACRYLATE ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 66:  
  2. VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 67:  
  2. VALUE OF EPOXY ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 68:  
  2. VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 69:  
  2. VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 70:  
  2. VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 71:  
  2. VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 72:  
  2. VOLUME OF SILICONE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 73:  
  2. VALUE OF SILICONE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 74:  
  2. VALUE SHARE OF SILICONE ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 75:  
  2. VOLUME OF VAE/EVA ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 76:  
  2. VALUE OF VAE/EVA ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 77:  
  2. VALUE SHARE OF VAE/EVA ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 78:  
  2. VOLUME OF OTHER RESINS ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
  1. Figure 79:  
  2. VALUE OF OTHER RESINS ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
  1. Figure 80:  
  2. VALUE SHARE OF OTHER RESINS ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
  1. Figure 81:  
  2. MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, THAILAND, 2019 - 2021
  1. Figure 82:  
  2. MOST ADOPTED STRATEGIES, COUNT, THAILAND, 2019 - 2021
  1. Figure 83:  
  2. REVENUE SHARE OF ADHESIVES BY MAJOR PLAYERS, %, THAILAND, 2021

Thailand Adhesives Industry Segmentation

Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA are covered as segments by Resin.

  • The consumption of adhesives declined in 2020 by about 11.6% compared to 2019 due to the COVID-19 pandemic, which severely affected the consumption of adhesives in Thailand owing to the closedown of the manufacturing sites and reduction in demand. The lockdown in the country for nearly three months resulted in supply chain disruptions and labor shortages. However, consumption registered growth in 2021 with a positive growth rate of about 10% due to steady demand from the manufacturing sector.
  • Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper and cardboard packaging applications. Water-borne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength, which is required in these applications. Nearly 26 thousand tons of water-borne adhesives were consumed in the Thai packaging industry in 2021. Solvent-borne adhesives are the fastest-growing technology in the packaging industry, and the segment is expected to register a CAGR of 2.37% from 2022 to 2028.
  • The automotive industry is the second-largest consumer of adhesives in Thailand. The automotive adhesives market grew by 16.62% in 2021, as the country's total vehicle manufacturing capacity reached 1.68 million units, up by 18% from the previous year. The rising demand for Thailand's automotive exports in the international market is expected to drive the demand for automotive adhesives over the coming years. The automotive export value reached USD 41.43 billion in 2021.
End User Industry
Aerospace
Automotive
Building and Construction
Footwear and Leather
Healthcare
Packaging
Woodworking and Joinery
Other End-user Industries
Technology
Hot Melt
Reactive
Solvent-borne
UV Cured Adhesives
Water-borne
Resin
Acrylic
Cyanoacrylate
Epoxy
Polyurethane
Silicone
VAE/EVA
Other Resins
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Market Definition

  • End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the adhesives market.
  • Product - All adhesive products are considered in the market studied
  • Resin - Under the scope of the study, resins like Polyurethane, Epoxy, Acrylic, Cyanoacrylate, VAE/EVA, and Silicone are considered
  • Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
Keyword Definition
Hot-melt Adhesive Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed.
Reactive Adhesive A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive.
Solvent-borne Adhesive Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers).
Water-borne Adhesive Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent.
UV Cured Adhesive UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives.
Heat-resistant Adhesive Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage.
Reshoring Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this.
Oleochemicals Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats.
Nonporous Materials Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow.
EU-Vietnam Free Trade Agreement A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019.
VOC content Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants.
Emulsion Polymerization Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product.
2025 National Packaging Targets In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025.
Russian Government’s Import Substitution Policy The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015.
Paper Substrate Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered.
Insulation Material A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils.
Thermal Shock A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
  • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Thailand Adhesives Market Research FAQs

The Thailand Adhesives Market size is expected to reach USD 629.75 million in 2024 and grow at a CAGR of 5.78% to reach USD 788.46 million by 2028.

In 2024, the Thailand Adhesives Market size is expected to reach USD 629.75 million.

3M, Dow, H.B. Fuller Company, Henkel AG & Co. KGaA and Selic Corp Public Company Limited. are the major companies operating in the Thailand Adhesives Market.

In the Thailand Adhesives Market, the Packaging segment accounts for the largest share by end user industry.

In 2024, the Woodworking and Joinery segment accounts for the fastest growing by end user industry in the Thailand Adhesives Market.

In 2023, the Thailand Adhesives Market size was estimated at 629.75 million. The report covers the Thailand Adhesives Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Adhesives Market size for years: 2024, 2025, 2026, 2027 and 2028.

Thailand Adhesives Industry Report

Statistics for the 2023 Thailand Adhesives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Adhesives analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Thailand Adhesives Market Report Snapshots

Thailand Adhesives Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028