Southeast Asia adhesives and sealants market is expected to grow at a CAGR of more than 5% during the forecast period. The demand for adhesives and sealants is extensively driven by the growing demand from construction industry and increasing application in packaging industry. However, the growth is likely to be hindered by the stringent VOC emissions regulations related to adhesives and sealants.
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- In the studied market, water-borne dominates the adhesive technology segment. While silicone stands to be the largest segment among sealant product types.
- The innovation and development of bio-based adhesives and shifting focus toward adhesive bonding for composite materials are likely to offer opportunities for the adhesives and sealants market.
- Indonesia stands to be the largest market for adhesive and sealants in the region, where the consumption is driven by the end-user industries, such as construction, electronics and packaging.
Southeast Asia Adhesives & Sealants Market Trends
Building and Construction Industry to Witness Fastest Growth
- Adhesives and sealants, owing to their characteristics and physical properties, have extensive use in the building and construction industry, which makes it the dominant end-user segment in adhesives and sealants market.
- Some of the properties of adhesives and sealants include good cohesion, adhesion and elasticity, high cohesive strength, flexibility, high elastic modulus of substrate, resistance from thermal expansion, and environmental resistance from UV light, corrosion, saltwater, rain, and other weathering conditions.
- They are being used in several applications, like heating, ventilation, air conditioning (HVAC), concrete, joint cement, resilient flooring, roofing, fixed window frames, etc.
- Growing construction activities in countries, such as Indonesia, Philippines, Vietnam, Indonesia, and Thailand have been driving the consumption of adhesives and sealants market in the region.
Indonesia to Dominate the Market
- Indonesia dominates the consumption of adhesives and sealants in the region. Growing construction activities, growing electronics production and increasing consumption in packaging industry are some of the key factors driving the growth of adhesives and sealants market in the country.
- Indonesia has been witnessing healthy growth in the packaging industry owing to the growth in applied industries and food & beverage sector. The rise of customized packaging, increased market for packaged food are some of the factors driving the growth of the packaging industry.
- Indonesia has also been witnessing robust growth in construction activities. The government have been coming up with numerous national strategic projects, which These projects also included construction of three airports and four special economic zones, driving the consumption of adhesives and sealants.
- Hence, all such trends in the end-user industries are expected to drive the growth of adhesives and sealants market in the country over the forecast period.
Southeast Asia Adhesives & Sealants Market Competitor AnalysisSoutheast Asia adhesives and sealants market is fragmented in nature. Some of the key players in the market include 3M, Arkema Group, Sika AG, H.B. Fuller, and Henkel AG & Co. KGaA, amongst others.
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Table of Contents1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Report
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from Construction Industry
4.1.2 Increasing Application in Packaging Industry
4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Adhesive Technology
5.1.1 Water Borne
184.108.40.206 Ethylene Vinyl Acetate (EVA) Emulsion
220.127.116.11 Polyurethane Dispersion and CR (Chloroprene Rubber) Latex
18.104.22.168 Polyvinyl Acetate (PVA) Emulsion
22.214.171.124 Other Water-borne Adhesives
126.96.36.199 Styrene-Butadiene Rubber (SBR)
188.8.131.52 Styrene-Butadiene Rubber (SBR)
184.108.40.206 Poly Acrylate (PA)
220.127.116.11 Other Solvent-borne Adhesives
18.104.22.168 Modified Acrylic
22.214.171.124 Other Reactive Adhesives
5.1.4 Hot Melt
126.96.36.199 Ethylene Vinyl Acetate
188.8.131.52 Styrenic Block Copolymers
184.108.40.206 Thermoplastic Polyurethane
220.127.116.11 Other Hot Melt Adhesives
5.1.5 Other Technologies
5.2 Sealant Product Type
5.2.4 Polyvinyl Acetate
5.2.5 Other Product Types
5.3 End-user Industry
5.3.1 Building and Construction
5.3.2 Paper, Board, and Packaging
5.3.4 Woodworking and Joinery
5.3.5 Footwear and Leather
5.3.7 Electrical and Electronics
5.3.8 Other End-user Industries
5.4.7 Rest of Southeast Asia
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Arkema Group
6.4.4 Avery Dennison Corporation
6.4.5 Beardow Adams
6.4.8 Dymax Corporation
6.4.9 Franklin International
6.4.10 H.B. Fuller Company
6.4.11 Henkel AG & Co. KGaA
6.4.12 Huntsman International LLC
6.4.13 ITW Performance Polymers (Illinois Tool Works Inc.)
6.4.14 Jowat AG
6.4.15 Mapei Inc.
6.4.16 Tesa SE (A Beiersdorf Company)
6.4.17 MUNZING Corporation
6.4.18 Pidilite Industries Ltd.
6.4.19 Sika AG
6.4.20 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Innovation and Development of Bio-based Adhesives
7.2 Shifting Focus Toward Adhesive Bonding for Composite Materials
A selection of companies mentioned in this report includes:
- Arkema Group
- Avery Dennison Corporation
- Beardow Adams
- Dymax Corporation
- Franklin International
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Huntsman International LLC
- ITW Performance Polymers (Illinois Tool Works Inc.)
- Jowat AG
- Mapei Inc.
- Tesa SE (A Beiersdorf Company)
- MUNZING Corporation
- Pidilite Industries Ltd.
- Sika AG
- Wacker Chemie AG