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Thailand Adhesives Market Size

The Thailand Adhesives Market is projected to experience growth over the forecast period, with significant contributions from the packaging and automotive industries. The market's expansion is driven by the increasing demand for adhesives in packaging applications, particularly water-borne and solvent-borne types, due to their cost-effectiveness and bonding strength. The automotive sector also plays a crucial role in the market's growth, fueled by the rising demand for automotive exports. Despite a temporary decline in 2020 due to the COVID-19 pandemic, the market has shown resilience and recovery, with positive growth trends anticipated in the coming years.

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Market Size of thailand adhesives Industry

Thailand Adhesives Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 629.75 Million
svg icon Market Size (2028) USD 788.46 Million
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2028) 5.78 %
svg icon Fastest Growing by End User Industry Woodworking and Joinery
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular 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).

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 Industry Segmentation 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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Thailand Adhesives Market Size Summary

The Thailand adhesives market is experiencing a positive trajectory, driven by recovery from the COVID-19 pandemic's impact and growing demand in key sectors. The packaging industry is a significant consumer of adhesives, particularly water-borne adhesives, due to their cost-effectiveness and strong bonding capabilities. The automotive sector also plays a crucial role, with increased vehicle production and exports boosting the demand for automotive adhesives. Thailand's position as a major manufacturing hub in the global plastic packaging market further supports the growth of adhesives, with a substantial portion of plastic production dedicated to packaging applications. The government's focus on bioplastics and sustainable practices is also influencing market dynamics, with investments in bioplastic plants expected to enhance the industry's growth.

The market landscape is characterized by fragmentation, with major players like 3M, Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, and Selic Corp Public Company Limited holding significant shares. Innovations in adhesive technologies, such as bio-based and solvent-free solutions, are shaping the competitive environment. Thailand's automotive industry, the largest in ASEAN, is advancing towards electric vehicles, further driving the demand for adhesives in this sector. The development of EV infrastructure and the country's strategic initiatives to align automotive production with environmental policies are expected to sustain the market's growth momentum in the coming years.

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Thailand Adhesives Market Size - Table of Contents

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

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Footwear and Leather

      5. 1.1.5 Healthcare

      6. 1.1.6 Packaging

      7. 1.1.7 Woodworking and Joinery

      8. 1.1.8 Other End-user Industries

    2. 1.2 Technology

      1. 1.2.1 Hot Melt

      2. 1.2.2 Reactive

      3. 1.2.3 Solvent-borne

      4. 1.2.4 UV Cured Adhesives

      5. 1.2.5 Water-borne

    3. 1.3 Resin

      1. 1.3.1 Acrylic

      2. 1.3.2 Cyanoacrylate

      3. 1.3.3 Epoxy

      4. 1.3.4 Polyurethane

      5. 1.3.5 Silicone

      6. 1.3.6 VAE/EVA

      7. 1.3.7 Other Resins

Thailand Adhesives Market Size 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.

Thailand Adhesives Market Report Snapshots

Thailand Adhesives Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2028