Market Research Report
Southeast-Asia Adhesives and Sealants Market - Segmented by Technology, Product Type, End-User Industry and Geography - Growth, Trends and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||629059|
|Published||Content info||146 Pages
Delivery time: 1-2 business days
|Southeast-Asia Adhesives and Sealants Market - Segmented by Technology, Product Type, End-User Industry and Geography - Growth, Trends and Forecast (2018 - 2023)|
|Published: March 20, 2018||Content info: 146 Pages||
The Southeast Asia Adhesives and Sealants market are expected to grow at steady pace during the forecast period, 2018 to 2023. Increasing Adoption of Low Cost Flexible Packaging Aids, recovering automotive industry in Indonesia and Thailand, along increasing urbanization & infrastructure uniformly across the region will drive adhesive & sealant market in region.
Recovering Automotive Industryin Thailand & Indonesia
The production of automotive in Thailand and Indonesia has shown a growth by 2.28% and 3.30 % respectively in 2017. Adhesives and Sealants have become a prime technology component of automotive applications, as they are continuously replacing traditional bonding or adhesion methods. Moreover, the recent advancements in adhesive technologies in the region are aiding automobile manufacturers in the production of lightweight and fuel-efficient vehicle.The focus on minimizing carbon emission and enhancing fuel economy, by reducing the vehicle's weight, has provided an impetus to adhesives, as a bonding material for the manufacturing of automobiles. With the increase in consumer population in growing economies, like Thailand and Indonesia, vehicle production will also increase over the years adding with all factors listed above, the demand for adhesives and sealants in the automotive industry is also expected to increase.
Construction Industry fueling positive Growth
Adhesives and sealants, owing to their characteristics and physical properties have extensive use in the building and construction industry. They have a myriad of applications; they are used in heating, ventilation, air conditioning, concrete, joint cements etc. With growing urbanization and infrastructure development across the region, supporting the continuous increase of consumers, it will likely thrive higher construction demand. This demand is expected to be boosted by an anticipated increase in demand for institutional and other buildings, such as healthcare facilities, Residential etc. Government's huge investments in public welfare and infrastructure programs are expected to augment the adhesive & sealant market due to its large number of applications in construction sector.
Indonesia to Lead the Market
The growth potential in the Indonesian market is huge and government economic reforms have supplemented the growth environment. The construction sector in Indonesia has a huge demand for more spending on infrastructure and population growth has boosted lifestyle trends and new housing and construction activity in the country. The automotive industry is recovering, which is increasing the demand for adhesives & sealants in the country. The electronics industry too has an increasing demand year on year basis due to increasing middle-class income and upper-class preference for new trends that have significantly increased the market for adhesives & sealants in the country.
Notable Developments in the Market
January 2018: Bostik Singapore announced the integration of Arkema, Bostik & Den Braven, and setting up the new office
Major Players: Henkel, Sika AG, 3M, Arkema Group, DowDuPont, and H.B. Fuller Co., amongst others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter's five forces analysis
To understand the dominating technology in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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