Market Size of thailand sealants Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2028 |
|
Market Size (2024) | USD 122.06 Million |
|
|
Market Size (2028) | USD 147.21 Million |
|
Largest Share by End User Industry | Building and Construction |
|
|
CAGR (2024 - 2028) | 4.80 % |
|
|
Fastest Growing by End User Industry | Aerospace |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Thailand Sealants Market Analysis
The Thailand Sealants Market size is estimated at 122.06 million USD in 2024, and is expected to reach 147.21 million USD by 2028, growing at a CAGR of 4.80% during the forecast period (2024-2028).
122.06 Million
Market Size in 2024 (USD)
147.21 Million
Market Size in 2028 (USD)
4.63 %
CAGR (2017-2023)
4.80 %
CAGR (2024-2028)
Largest Market by End-user Industry
48.44 %
value share, Building and Construction, 2023
In Thailand, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, weatherproofing, curtain wall, glazing, and façade.
Fastest Growing Market by End-user Industry
7.44 %
Projected CAGR, Aerospace, 2024-2028
The aerospace industry is expected to register the fastest growth in the Thai sealants market owing to the rapid expansion of general aviation in the domestic market.
Largest Market by Resin
44.20 %
value share, Silicone, 2023
Silicone is the major resin-based sealant owing to the segment holding the highest application share in the building and construction industry for both interior and exterior uses.
Fastest Growing Market by Resin
4.93 %
Projected CAGR, Polyurethane, 2024-2028
Due to its sheer strength and high-impact resistance abilities, silicone sealants are mostly used in construction applications. The segment is, thus, expected to witness the fastest growth in the Thai sealants market.
Leading Market Player
7.38 %
market share, Henkel AG & Co. KGaA, 2021
Henkel AG & Co. KGaA is the leading sealants manufacturer in Thailand owing to the popularity of its products, majorly in electronics, transportation, and building and construction applications.
The emerging automotive industry and rising demand for advanced medical equipment are expected to boost the consumption of sealants in Thailand
- The construction industry holds a major share of the Thai sealants market, followed by other end-user industries due to the diverse applications of sealants in building and construction. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction sector contributed THB 439.13 billion to the nation’s GDP in 2021 and is likely to register significant growth owing to increasing investment in residential construction, which is expected to boost the demand for sealants in the upcoming years.
- The other end-user industries segment is anticipated to hold the second-highest share in value and volume in the Thai sealants market, of which electronics and electrical equipment will account for the major portion. Various sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. The Thai electronics industry is likely to grow over the coming years, owing to the presence of major manufacturers in the country. This will foster the production capacity and demand for sealants in the other end-user industries segment.
- Sealants are used in diverse applications in the automotive industry, mostly for engines and car gaskets, and exhibit extensive bonding to various substrates. Thailand has been a major hub for automakers over the last few years due to well-organized production facilities and the presence of leading companies, which is likely to create demand for sealants over the coming years. Sealants are also used for healthcare applications, such as assembling and sealing medical device parts, thus, accounting for a decent share of the Thai sealants market among end-user industries.
Understand The Key Trends Shaping This Market
Thailand Sealants Industry Segmentation Thailand Sealants Industry Segmentation
Aerospace, Automotive, Building and Construction, Healthcare are covered as segments by End User Industry. Acrylic, Epoxy, Polyurethane, Silicone are covered as segments by Resin.
- The construction industry holds a major share of the Thai sealants market, followed by other end-user industries due to the diverse applications of sealants in building and construction. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction sector contributed THB 439.13 billion to the nation’s GDP in 2021 and is likely to register significant growth owing to increasing investment in residential construction, which is expected to boost the demand for sealants in the upcoming years.
- The other end-user industries segment is anticipated to hold the second-highest share in value and volume in the Thai sealants market, of which electronics and electrical equipment will account for the major portion. Various sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. The Thai electronics industry is likely to grow over the coming years, owing to the presence of major manufacturers in the country. This will foster the production capacity and demand for sealants in the other end-user industries segment.
- Sealants are used in diverse applications in the automotive industry, mostly for engines and car gaskets, and exhibit extensive bonding to various substrates. Thailand has been a major hub for automakers over the last few years due to well-organized production facilities and the presence of leading companies, which is likely to create demand for sealants over the coming years. Sealants are also used for healthcare applications, such as assembling and sealing medical device parts, thus, accounting for a decent share of the Thai sealants market among end-user industries.
| End User Industry | |
| Aerospace | |
| Automotive | |
| Building and Construction | |
| Healthcare | |
| Other End-user Industries |
| Resin | |
| Acrylic | |
| Epoxy | |
| Polyurethane | |
| Silicone | |
| Other Resins |
Need A Different Region Or Segment?
Thailand Sealants Market Size Summary
The Thailand sealants market is experiencing steady growth, driven primarily by the construction industry, which holds a significant share due to the extensive use of sealants in building and construction applications. The demand for construction sealants is expected to rise, supported by increased investments in residential projects and public infrastructure developments. This growth is further bolstered by the country's strategic position as a hub for automotive and electronics manufacturing, where sealants are crucial for various applications such as potting, protecting, and sealing components. The automotive sector, in particular, benefits from Thailand's status as a leading auto producer in the ASEAN region, with sealants playing a vital role in engine and car gasket applications.
In addition to construction and automotive, the electronics and healthcare industries also contribute to the demand for sealants in Thailand. The electronics sector, with its major manufacturers, drives the need for sealants in electrical equipment production, while the healthcare industry utilizes them for assembling and sealing medical devices. The market is characterized by fragmentation, with key players like 3M, Dow, Henkel AG & Co. KGaA, Sika AG, and Soudal Holding N.V. holding a substantial portion of the market share. Recent strategic moves, such as Sika AG's acquisition of The Yokohama Rubber Co. Ltd's adhesives division, highlight the ongoing consolidation and innovation within the market, aiming to enhance product offerings for the automotive and construction sectors.
Thailand Sealants Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
-
1.1 End User Industry
-
1.1.1 Aerospace
-
1.1.2 Automotive
-
1.1.3 Building and Construction
-
1.1.4 Healthcare
-
1.1.5 Other End-user Industries
-
-
1.2 Resin
-
1.2.1 Acrylic
-
1.2.2 Epoxy
-
1.2.3 Polyurethane
-
1.2.4 Silicone
-
1.2.5 Other Resins
-
-
Thailand Sealants Market Size FAQs
How big is the Thailand Sealants Market?
The Thailand Sealants Market size is expected to reach USD 122.06 million in 2024 and grow at a CAGR of 4.80% to reach USD 147.21 million by 2028.
What is the current Thailand Sealants Market size?
In 2024, the Thailand Sealants Market size is expected to reach USD 122.06 million.
