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Thailand Construction Chemicals Market Size

The Thailand construction chemicals market is experiencing significant growth, driven by increased construction activities and rising material prices. The market's expansion is supported by a growing awareness of construction chemical applications, particularly in the industrial and institutional sectors, which dominate due to the prevalence of non-residential buildings. The manufacturing sector, bolstered by foreign investments, further fuels demand. The residential sector, benefiting from urban population density, is expected to see the fastest growth in market size, driven by urbanization and government housing initiatives.

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Market Size of thailand construction chemicals Industry

Thailand Construction Chemicals Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 690.33 Million
svg icon Market Size (2030) USD 978.96 Million
svg icon Largest Share by End Use Sector Industrial and Institutional
svg icon CAGR (2024 - 2030) 5.99 %
svg icon Fastest Growing by End Use Sector Residential
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Thailand Construction Chemicals Market Analysis

The Thailand Construction Chemicals Market size is estimated at 690.33 million USD in 2024, and is expected to reach 978.96 million USD by 2030, growing at a CAGR of 5.99% during the forecast period (2024-2030).

690.33 Million

Market Size in 2024 (USD)

978.96 Million

Market Size in 2030 (USD)

5.84 %

CAGR (2018-2023)

5.99 %

CAGR (2024-2030)

Largest Market by Product

29.82 %

value share, Waterproofing Solutions, 2023

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Waterproofing solutions hold the largest share due to widespread applications of waterproofing, such as roofings, walls, basements, water tank linings, bridge decks, etc., from the industrial and commercial sectors.

Fastest Market by Product

6.83 %

Projected CAGR, Surface Treatment Chemicals, 2024-2030

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Ease of application, low VOC content, and low-cost alternatives to concrete admixtures make them an ideal choice to protect concrete surfaces, and the surface treatment chemical segment is likely to witness the fastest growth.

Largest Market by End Use Sector

36.21 %

value share, Industrial and Institutional, 2023

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Due to the high demand for waterproofing solutions, flooring resins, concrete admixtures, etc., from the chemical, pharmaceutical, and food industries in the country, the industrial and institutional sectors hold the largest share.

Fastest Market by End Use Sector

6.53 %

Projected CAGR, Residential, 2024-2030

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Supportive government policies to promote house construction, along with the increasing awareness toward durability, safety, and quality of structure, are likely to support the growth of the residential sector in the coming years.

Leading Company

24.75 %

market share, Sika AG, 2022

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The company's broad range of high-quality products, well-established network in the country, robust supply chain, and strategic expansions and acquisitions in the construction industry make it a major player in the market.

The growing need for construction chemicals in Thailand's housing construction sector is expected to boost the market growth

  • In 2022, Thailand's construction chemicals market witnessed an 11.45% surge in demand, driven by a rise in construction activities and material prices. This uptick translated into higher demand and profits compared to 2021. With a growing awareness of the features and applications of construction chemicals bolstered by an uptick in building projects, the demand is projected to grow by 4.5% in 2023 compared to the previous year.
  • The industrial and institutional sectors dominate the market, primarily due to their abundance of non-residential buildings. Additionally, Thailand's manufacturing sector, a key pillar of the economy, has been a recipient of foreign investments in the past, with expectations of continued inflows. These factors have propelled the demand for construction chemicals in this sector.
  • The residential sector, with the second-highest demand share, benefits from Thailand's urban population concentration. This urban density translates into a robust demand for residential buildings, creating a significant market for construction chemicals. Notably, waterproofing solutions, crucial for mitigating water damage, accounted for nearly 35% of the sector's total demand in 2022.
  • Looking ahead, the residential sector is poised to witness the fastest growth in construction chemical demand, with a projected CAGR of 6.5% during the forecast period (2023-2030). This surge is underpinned by the country's ongoing urbanization trend and the anticipated rise in demand for affordable housing, buoyed by government housing initiatives.
Thailand Construction Chemicals Market

Thailand Construction Chemicals Industry Segmentation

Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Adhesives, Anchors and Grouts, Concrete Admixtures, Concrete Protective Coatings, Flooring Resins, Repair and Rehabilitation Chemicals, Sealants, Surface Treatment Chemicals, Waterproofing Solutions are covered as segments by Product.

  • In 2022, Thailand's construction chemicals market witnessed an 11.45% surge in demand, driven by a rise in construction activities and material prices. This uptick translated into higher demand and profits compared to 2021. With a growing awareness of the features and applications of construction chemicals bolstered by an uptick in building projects, the demand is projected to grow by 4.5% in 2023 compared to the previous year.
  • The industrial and institutional sectors dominate the market, primarily due to their abundance of non-residential buildings. Additionally, Thailand's manufacturing sector, a key pillar of the economy, has been a recipient of foreign investments in the past, with expectations of continued inflows. These factors have propelled the demand for construction chemicals in this sector.
  • The residential sector, with the second-highest demand share, benefits from Thailand's urban population concentration. This urban density translates into a robust demand for residential buildings, creating a significant market for construction chemicals. Notably, waterproofing solutions, crucial for mitigating water damage, accounted for nearly 35% of the sector's total demand in 2022.
  • Looking ahead, the residential sector is poised to witness the fastest growth in construction chemical demand, with a projected CAGR of 6.5% during the forecast period (2023-2030). This surge is underpinned by the country's ongoing urbanization trend and the anticipated rise in demand for affordable housing, buoyed by government housing initiatives.
End Use Sector
Commercial
Industrial and Institutional
Infrastructure
Residential
Product
Adhesives
By Sub Product
Hot Melt
Reactive
Solvent-borne
Water-borne
Anchors and Grouts
By Sub Product
Cementitious Fixing
Resin Fixing
Other Types
Concrete Admixtures
By Sub Product
Accelerator
Air Entraining Admixture
High Range Water Reducer (Super Plasticizer)
Retarder
Shrinkage Reducing Admixture
Viscosity Modifier
Water Reducer (Plasticizer)
Other Types
Concrete Protective Coatings
By Sub Product
Acrylic
Alkyd
Epoxy
Polyurethane
Other Resin Types
Flooring Resins
By Sub Product
Acrylic
Epoxy
Polyaspartic
Polyurethane
Other Resin Types
Repair and Rehabilitation Chemicals
By Sub Product
Fiber Wrapping Systems
Injection Grouting Materials
Micro-concrete Mortars
Modified Mortars
Rebar Protectors
Sealants
By Sub Product
Acrylic
Epoxy
Polyurethane
Silicone
Other Resin Types
Surface Treatment Chemicals
By Sub Product
Curing Compounds
Mold Release Agents
Other Product Types
Waterproofing Solutions
By Sub Product
Chemicals
Membranes
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Thailand Construction Chemicals Market Size Summary

The Thailand construction chemicals market is experiencing a significant expansion, driven by increased construction activities and rising material costs. The market is characterized by a robust demand across various sectors, with the industrial and institutional sectors leading due to their substantial non-residential building projects. The manufacturing sector, a cornerstone of Thailand's economy, continues to attract foreign investments, further boosting the demand for construction chemicals. The residential sector also plays a crucial role, supported by the country's urban population density, which necessitates a steady supply of residential buildings. Waterproofing solutions are particularly in demand, reflecting the need to address water damage issues effectively.

Looking ahead, the market is poised for continued growth, with the residential sector expected to witness the fastest expansion in demand for construction chemicals. This growth is fueled by ongoing urbanization and government initiatives aimed at increasing affordable housing. The commercial construction sector is also on an upward trajectory, bolstered by a resurgence in foreign direct investments and a recovery from the pandemic's impact. The market is moderately consolidated, with major players like Fosroc, Inc., MBCC Group, Saint-Gobain, Sika AG, and TOA Paint (Thailand) Public Company Limited dominating the landscape. Recent strategic moves, such as Sika's acquisition of the MBCC Group, highlight the dynamic nature of the market, as companies seek to enhance their product offerings and market presence.

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Thailand Construction Chemicals Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size, forecasts up to 2030 and analysis of growth prospects.)

    1. 1.1 End Use Sector

      1. 1.1.1 Commercial

      2. 1.1.2 Industrial and Institutional

      3. 1.1.3 Infrastructure

      4. 1.1.4 Residential

    2. 1.2 Product

      1. 1.2.1 Adhesives

        1. 1.2.1.1 By Sub Product

          1. 1.2.1.1.1 Hot Melt

          2. 1.2.1.1.2 Reactive

          3. 1.2.1.1.3 Solvent-borne

          4. 1.2.1.1.4 Water-borne

      2. 1.2.2 Anchors and Grouts

        1. 1.2.2.1 By Sub Product

          1. 1.2.2.1.1 Cementitious Fixing

          2. 1.2.2.1.2 Resin Fixing

          3. 1.2.2.1.3 Other Types

      3. 1.2.3 Concrete Admixtures

        1. 1.2.3.1 By Sub Product

          1. 1.2.3.1.1 Accelerator

          2. 1.2.3.1.2 Air Entraining Admixture

          3. 1.2.3.1.3 High Range Water Reducer (Super Plasticizer)

          4. 1.2.3.1.4 Retarder

          5. 1.2.3.1.5 Shrinkage Reducing Admixture

          6. 1.2.3.1.6 Viscosity Modifier

          7. 1.2.3.1.7 Water Reducer (Plasticizer)

          8. 1.2.3.1.8 Other Types

      4. 1.2.4 Concrete Protective Coatings

        1. 1.2.4.1 By Sub Product

          1. 1.2.4.1.1 Acrylic

          2. 1.2.4.1.2 Alkyd

          3. 1.2.4.1.3 Epoxy

          4. 1.2.4.1.4 Polyurethane

          5. 1.2.4.1.5 Other Resin Types

      5. 1.2.5 Flooring Resins

        1. 1.2.5.1 By Sub Product

          1. 1.2.5.1.1 Acrylic

          2. 1.2.5.1.2 Epoxy

          3. 1.2.5.1.3 Polyaspartic

          4. 1.2.5.1.4 Polyurethane

          5. 1.2.5.1.5 Other Resin Types

      6. 1.2.6 Repair and Rehabilitation Chemicals

        1. 1.2.6.1 By Sub Product

          1. 1.2.6.1.1 Fiber Wrapping Systems

          2. 1.2.6.1.2 Injection Grouting Materials

          3. 1.2.6.1.3 Micro-concrete Mortars

          4. 1.2.6.1.4 Modified Mortars

          5. 1.2.6.1.5 Rebar Protectors

      7. 1.2.7 Sealants

        1. 1.2.7.1 By Sub Product

          1. 1.2.7.1.1 Acrylic

          2. 1.2.7.1.2 Epoxy

          3. 1.2.7.1.3 Polyurethane

          4. 1.2.7.1.4 Silicone

          5. 1.2.7.1.5 Other Resin Types

      8. 1.2.8 Surface Treatment Chemicals

        1. 1.2.8.1 By Sub Product

          1. 1.2.8.1.1 Curing Compounds

          2. 1.2.8.1.2 Mold Release Agents

          3. 1.2.8.1.3 Other Product Types

      9. 1.2.9 Waterproofing Solutions

        1. 1.2.9.1 By Sub Product

          1. 1.2.9.1.1 Chemicals

          2. 1.2.9.1.2 Membranes

Thailand Construction Chemicals Market Size FAQs

The Thailand Construction Chemicals Market size is expected to reach USD 690.33 million in 2024 and grow at a CAGR of 5.99% to reach USD 978.96 million by 2030.

In 2024, the Thailand Construction Chemicals Market size is expected to reach USD 690.33 million.

Thailand Construction Chemicals Market Report Snapshots

Thailand Construction Chemicals Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030