Product Code: ETC019845 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Thailand Adhesives market currently, in 2023, has witnessed an HHI of 2778, Which has increased slightly as compared to the HHI of 2293 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Adhesives are substances used to join two surfaces together. Thailand adhesives market is estimated to reach USD 4.9 billion by 2031, at a CAGR of 5.2% during the forecast period (2025-2031). The market has been witnessing steady growth in terms of revenue due to increased demand from various end-user industries such as automotive, construction and packaging. Additionally, increasing investments in infrastructure throughout the country are projected to create new opportunities for adhesive manufacturers and suppliers over the coming years.
The growing electronic industry in Thailand is expected to be one of the main drivers for growth within its adhesives market over the next five years. This growth can be attributed to an increase in internet penetration rate coupled with rising disposable income and technological advancements leading customers towards advanced products such as laptops, mobile phones etc., which require more sophisticated bonding solutions than traditional methods like welding or mechanical fastening techniques. Moreover, favorable government policies regarding foreign investment have also encouraged multinational players such as 3M Company (USA), Henkel AG & Co KGaA (Germany) and Sika AG (Switzerland) among others into entering this sector thus further driving up competition within it.
One of the key challenges faced by adhesive manufacturers when setting up their operations within Thailand is that they must comply with local regulations imposed on production processes related to health safety requirements and environmental protection standards before obtaining business permits from local authorities across all levels of government departments including provincial offices, district offices etc., making it difficult for companies outside Asia Pacific region that do not have any prior experience operating there. Furthermore fluctuations in raw material prices also impact profitability margins which makes it necessary for these companies keep track of cost changes accordingly so as remain competitive amidst other regional producers who may already possess better pricing strategies due being well versed with local dynamics.. Lastly, stringent labor laws coupled with rising wages make finding skilled workforce quite complicated thereby resulting higher operational costs associated with hiring highly qualified personnel capable handling complex tasks related formulating right kind glue mixtures etc., which adds another layer difficulty while doing business there.
The Thailand adhesives market has been affected by the COVID-19 pandemic. The lockdown imposed to contain the spread of the virus resulted in a significant decline in economic activities and production, leading to a contraction of demand for adhesives across various end-use industries. However, with gradual reopening of industrial activities and infrastructural projects, there is an expected recovery in growth.
The key players operating in the Thailand adhesives market are Henkel AG & Co., 3M Company, Dow Inc., Sika AG, Pidilite Industries Limited, H.B. Fuller Company, Bostik SA (Arkema Group), Illinois Tool Works Inc., Avery Dennison Corporation and Huntsman International LLC among others .
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Adhesives Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Adhesives Market Revenues & Volume, 2021 & 2031F |
3.3 Thailand Adhesives Market - Industry Life Cycle |
3.4 Thailand Adhesives Market - Porter's Five Forces |
3.5 Thailand Adhesives Market Revenues & Volume Share, By Types, 2021 & 2031F |
3.6 Thailand Adhesives Market Revenues & Volume Share, By Technology, 2021 & 2031F |
4 Thailand Adhesives Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Adhesives Market Trends |
6 Thailand Adhesives Market, By Types |
6.1 Thailand Adhesives Market, By Types |
6.1.1 Overview and Analysis |
6.1.2 Thailand Adhesives Market Revenues & Volume, By Types, 2021-2031F |
6.1.3 Thailand Adhesives Market Revenues & Volume, By Acrylic , 2021-2031F |
6.1.4 Thailand Adhesives Market Revenues & Volume, By Epoxy, 2021-2031F |
6.1.5 Thailand Adhesives Market Revenues & Volume, By Polyvinyl Acetate (PVA), 2021-2031F |
6.1.6 Thailand Adhesives Market Revenues & Volume, By Polyurethane (PU), 2021-2031F |
6.1.7 Thailand Adhesives Market Revenues & Volume, By Styrenic Block, 2021-2031F |
6.1.8 Thailand Adhesives Market Revenues & Volume, By Ethyl Vinyl Acetate (EVA), 2021-2031F |
6.2 Thailand Adhesives Market, By Technology |
6.2.1 Overview and Analysis |
6.2.2 Thailand Adhesives Market Revenues & Volume, By Water-based, 2021-2031F |
6.2.3 Thailand Adhesives Market Revenues & Volume, By Solvent-based, 2021-2031F |
6.2.4 Thailand Adhesives Market Revenues & Volume, By Hot Melt, 2021-2031F |
6.2.5 Thailand Adhesives Market Revenues & Volume, By Pressure Sensitive, 2021-2031F |
6.2.6 Thailand Adhesives Market Revenues & Volume, By Reactive and Others, 2021-2031F |
7 Thailand Adhesives Market Import-Export Trade Statistics |
7.1 Thailand Adhesives Market Export to Major Countries |
7.2 Thailand Adhesives Market Imports from Major Countries |
8 Thailand Adhesives Market Key Performance Indicators |
9 Thailand Adhesives Market - Opportunity Assessment |
9.1 Thailand Adhesives Market Opportunity Assessment, By Types, 2021 & 2031F |
9.2 Thailand Adhesives Market Opportunity Assessment, By Technology, 2021 & 2031F |
10 Thailand Adhesives Market - Competitive Landscape |
10.1 Thailand Adhesives Market Revenue Share, By Companies, 2024 |
10.2 Thailand Adhesives Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |