Top 30 Indonesian Adhesive Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
PT Ekadharma International Tbk (EKAD) Listed adhesive & self-adhesive tape manufacturer.
PT Duta Pertiwi Nusantara Tbk (DPNS) Listed player in adhesive products including glue, wood adhesives, chemicals.
PT Henkel Adhesive Technologies Local unit of global Henkel; adhesives, sealants, coatings.
PT Mitra Semesta Lemindo Domestic adhesive producer.
PT Belanwandeli Chemical Adhesive chemicals.
PT Dover Chemical Chemical products including adhesives.
PT BASF Indonesia Supplies polymers & adhesives inputs.
PT Henkel Footwear and Specialty Adhesives Footwear adhesives.
PT Konishi Lemindo Indonesia Adhesive/industrial glue.
PT Alfa Polimer Indonesia Adhesive polymer materials.
PT ALTECO Chemical Indonesia Adhesive producer (industrial & consumer).
PT Mikatasa Agung Produces PVC/industrial adhesives.
PT Asia Chemical Industry Shoe/glue adhesives.
PT Bersama Lemindo Abadi Wood glue producer.
PT Dong Sung Indonesia N S G Shoe adhesives manufacturer.
PT Gelora Citra Kimia Abadi Plywood glue.
PT Indo Nan Pao Resin Chemical Adhesives/chemicals.
PT Great Eastern Resins Industrial Indonesia Resins/adhesives.
PT Han Young Indonesia Glue manufacturer.
PT Kaltim Lemindo Kimiautama Wood adhesive producer.
CV Kemrez Chemicals Wood adhesive manufacturer.
PT Polychemie Asia Pacific Permai Industrial adhesives & chemicals.
PT Polytama Synteticindo Synthetic adhesives/chemical supplies.
PT Porta Griya Indah Industri Adhesive tape & glue products.
PT Pura Barutama Unit Microcapsule Adhesives & specialty chem.
PT Queen Her Chemicals Adhesives/chemical solutions.
PT Sparta Prima Adhesive products.
PT Star Light Everindo Chemical Industrial Seal tape & adhesives.
PT Pitamas Group Major adhesive tape manufacturer (not publicly listed).
PT Pamolite Adhesive Industry Industrial adhesive specialist (not publicly listed).
2) Revenue results of major public companies in Indonesia summarized (per company)
PT Ekadharma International Tbk (EKAD) - Q3 2025 Revenue: Rp 393.1 billion (~USD 26 million) Gross Profit: Rp 114.5 billion EBITDA: Rp 46.0 billion Net Profit: Rp 30.5 billion (~USD 2.0 million) Margins: ~29% gross, ~12% EBITDA, ~8% net. Market leader in self-adhesive tapes and related products in Indonesia; net profit declined YoY due to cost pressures and competitive dynamics.
PT Duta Pertiwi Nusantara Tbk (DPNS) - Q3 2025 Revenue: Rp 9.5 billion (~USD 0.6 million) Gross Profit: Rp 0.6 billion EBITDA: Rp 3.1 billion Net Profit: Rp 1.5 billion (~USD 0.1 million) Margins: ~6% gross, ~33% EBITDA, ~16% net. Specialist in wood adhesive and chemical products; net profit dropped YoY reflecting weaker volumes.
PT AKR Corporindo Tbk (AKRA) (chemicals & distribution) - Q3 2025 Net Profit: ~Rp 1.65 trillion (~USD 99 million). While not an adhesive manufacturer per se, AKRAs chemicals trading and distribution (including adhesive feedstocks via its affiliate Aruki) make it significant to Indonesias adhesive supply chain
PT Intanwijaya Internasional Tbk (INCI) Chemicals/materials exposure in adhesives supply.
PT OBM Drilchem Tbk (OBMD) Specialty chemicals (distributor/industrial).
PT Colorpak Indonesia Tbk (CLPI) Packaging-linked chemicals/inks (adhesive adjacency).
PT Madusari Murni Indah Tbk (MOLI) Chemicals sector player.
PT Indopoly Swakarsa Industry Tbk (IPOL) Polymer manufacturer relevant as polymer feedstocks for adhesives.
PT Sariguna Primatirta Tbk (CLEO) Consumer goods (non-adhesive core but significant packaging adhesives use).
PT Wicaksana Overseas Internasional Tbk (WICO) Industrial services (materials and chemicals trading).
3) Key trends & insights from Q3 2025
Moderate Demand Growth - The Indonesian macroeconomic environment in Q3 2025 showed continued craft and manufacturing demand, which fed into adhesive usage in packaging, automotive components, and building materials.
Input Cost and Margin Pressures - Like many chemical industries globally, raw material cost dynamics (e.g., polymer feedstock prices) influence margins. In global peers such as Henkel, the Adhesive Technologies segment saw a nominal sales dip (to €2,708 million in Q3 2025), but organic growth adjusted for FX was positive.
Industry Reporting Gaps - A challenge in assessing Indonesian adhesive companies is the limited segmentation in published financials; many firms do not report adhesives performance separately.
Export & Industrial Adoption - Adhesive companies serving export supply chains or multinational partnerships may see revenue contributions from ASEAN and broader Asia markets, suggesting strategic expansion beyond domestic construction.
4) Outlook for Q4 2025 and beyond
Demand Drivers - Continued infrastructure and housing development in Indonesia will support adhesives for construction applications. Packaging growth linked to e-commerce and consumer products will sustain demand for tapes and sealants.
Supply Chain & Cost Factors - Volatility in polymer prices and FX may temper margin expansion. Advancements in higher-value adhesive technologies (e.g., for automotive and electronics) could offer growth avenues.
Corporate Actions - Companies with diversified portfolios (e.g., AKR Corporindo) may leverage their logistics & chemicals segments to optimize adhesive raw material sourcing.
Overall, the sectors trajectory points toward steady growth with periodic fluctuations tied to raw material costs and global trade demand.
5) Conclusion
The Indonesian adhesive industry in Q3 2025 exhibited steady but measured performance. The standout publicly reported figure comes from PT Ekadharma International Tbk, with Rp 393.1 billion revenue and Rp 30.5 billion net profit in Q3 2025, though profitability trended lower year-on-year. Broader industry insights suggest demand growth aligned with national economic expansion, while competitive and cost pressures influence margins. A lack of clearly disclosed adhesive-specific data for most public companies limits full ranking of 30 companies by adhesive performance. Nonetheless, self-adhesive tape producers, specialty chemicals suppliers, and industrial materials firms form the core of the sector, with prospects tied to construction, packaging, and manufacturing growth in Indonesia and the wider ASEAN region.

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