The Thailand adhesives and sealants market is estimated to witness a healthy growth, at an estimated CAGR of over 7%, over the forecast period. Increasing demand form packaging industry is expected to drive the market during the forecast period.
New York, March 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thailand Adhesives and Sealants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06036745/?utm_source=GNW
- Growing popularity of bio-based adhesives is likely to create opportunities for the market’s growth in the future.
- By end-user industry, the paper, board, and packaging segment dominated the market.
Key Market Trends
Increasing Usage of Acrylic Water Borne Adhesives
- Water-borne acrylic adhesives are considered as an environmentally friendly and economically feasible substitute to solvent-based adhesives. The major advantage of water-borne adhesives is the absence of volatile organic compounds.
- The properties of the acrylics include durability, color retention, quick-drying, environmentally friendly, impact-resistant, etc. Acrylics are majorly used on exterior and interior surfaces, such as on frames, doors, wall surfaces, trim, etc.
- Acrylics can be applied to areas, such as primed metals, direct to metal applications, wood, and masonry surfaces. Acrylics are also used directly to metal or as a topcoat for many colors and gloss levels.
- The application of the acrylics includes bonding wood, paper, wall panel bonding, sealing (grouts), textiles bonding, paper stamps, leather tile envelopes, labels, etc. Acrylics are used by various end-user industries, such as buildings and construction, woodworking and joinery, paper, board, packaging, etc.
- Furthermore, acrylics are majorly used by paper, board, and packaging industries. Packaging industry dominates the demand for acrylic adhesives with numerous applications in products, such as tapes, labels, cases, and cartons.
- Factors, such as e-commerce, online food deliveries, and innovation and development in the packaging industry has been driving the growth of the packaging industry in the country.
Rising Demand from Building and Construction Industry
- Adhesives and sealants have been extensively used in the building and construction industry owing to their characteristics and physical properties. These properties include good adhesion and elasticity, cohesion, high cohesive strength, flexibility, the high elastic modulus of the substrate, resistance from thermal expansion, and environmental resistance from UV light, corrosion, saltwater, rain, and other weathering conditions.
- They have a myriad of applications. They are used in heating, ventilation, air conditioning (HVAC), concrete, joint cement, manufactured housing, resilient flooring, roofing, wall covering, pre-finish panels, drywall lamination, joints in exterior walls, spandrels, repair of larger cracks, the perimeter of doors and fixed window frames, etc.
- The residential projects are estimated to dominate the construction sector, owing to the increasing registrations in the country.
- The construction industry in Thailand is estimated to expand at a significant rate in the next few years, primarily owing to the increasing public and foreign investments in the country’s construction sector.
- All the aforementioned factors, in turn, are expected to boost the demand for adhesives and sealants in the country during the forecast period.
The Thailand adhesives and sealants market is a consolidated market with many healthy competitions in the market. The major companies include 3M, Henkel AG & Co. KGaA, Sika AG, Arkema Group, and H.B. Fuller Company, among others.
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