Market Size of thailand adhesives Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 629.75 Million |
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Market Size (2028) | USD 788.46 Million |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 5.78 % |
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Fastest Growing by End User Industry | Woodworking and Joinery |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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).
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
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
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
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
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
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.
Understand The Key Trends Shaping This Market
