COVID-19 Outbreak- Thailand Adhesives & Sealants Market Professional Survey Industry Market Report-Development Trends, Threats, Opportunities And Competitive Landscape In 2020

The Thailand Adhesives & Sealants market was estimated at USD 25049 million in 2017. Asia-Pacific is set to lead with a larger share of the Thailand market owing to the growing packaging industry in the region. Polyethylene plastic type is expected to hold the largest share of the market.

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Top Leading Manufactures-

The Major Players Include - H.B. Fuller-Thailand, Bayer  Thailand, Sunstar Chemical (Thailand), Henkel Chemicals (Thailand), Star Bond (Thailand), Oji Label (Thailand) Limited, And Bond Chemicals (Thailand) Limited, Amongst Others.

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Key Market Trends

The Thailand adhesives & sealants market will expand at CAGR of 5.35% during the forecast period of 2018-2023 due to its low-cost labor and rapid economic and industrial growth.

Rising Demand in Automotive Industry

The automotive industry is one of the flourishing end-user industries to increase the demand for adhesives in Thailand. A car-manufacturing unit uses about 40 kg of adhesives per vehicle, which opens a huge market for adhesives. The demand for automotive in Thailand has increased in the recent past and is expected to rise at a significant rate. PSA graphics and tapes play a vital role in the manufacturing of automobiles. They also aid in maintaining the performance and aesthetics. Moreover, the increasing R&D and increase in the number of sensors in cars are some factors that have increased the usage of adhesives in the industry.

The labor force and the productivity improvement, urbanization, and higher consumer market are the other reasons for the growth of the automotive industry in Thailand, which also drives the growth of the adhesive market.

Government regulations regarding VOC emissions might restrain the growing Thailand adhesive market.

Moreover, the adhesives demand in the country is increasing gradually, thus boosting the country to go for import of more raw materials, which has affected the countrys export basket negatively.

Acrylics Dominates the Waterborne Adhesives Market

Acrylics have the highest market share in Thailands waterborne adhesive market and it is expected to grow at a significant rate. Owing to their high strength, acrylic adhesives are commonly used for building and construction applications, and a specialized variation is widely used for bonding implant prostheses to bones. They find a wide range of applications in the health and medical fields, electronic parts production, and appliance and automotive manufacturing.

The rapidly expanding automotive industry in Thailand is resulting in the increasing consumption of acrylic-based water-borne adhesives. Additionally, increasing industrial investment, robust income growth, and high GDP growth are expected to drive the acrylic adhesives demand in Indonesia.

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Notable Development

September 2017: Henkel (Thailand) continues to expand its presence in Thailand in the adhesives and hair businesses and is aiming for greater growth, especially in the consumer sector.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Thailand and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Thailand Adhesives & Sealants Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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This release was published on openPR.