Malaysia Adhesives & Sealants Market - Segmented by Technology, Product Type, and End-user Industry - Growth, Trends, and Forecast (2018 - 2023)
The Malaysia Adhesives & Sealants market is expected to grow significantly at a CAGR of 5.28% during the forecast period (2018 - 2023). An increasing demand from the various end-user sectors for adhesives, such as the building & construction sector, footwear industry, and wood-working & joinery industry, is currently driving the Malaysian adhesives market.
Rising Demand from Wide Range of Applications
The Malaysian market for adhesives is expected to grow at a considerable rate due to technological advancements and product innovations. Product innovations and internal competition in the market to reduce prices are expected to provide opportunities to the new entrants in the market. In addition, the increasing use of high-performance adhesives in medical applications is another driver for the market. Market users for adhesives vary from construction to packaging & labeling, automotive industry, footwear, transportation, assembly, consumer DIY, and woodworking. The growth in the market over the next few years will be driven by the growing product penetration in new application markets with product differentiation and innovations. An increased focus on renewable energy is further opening up opportunities for adhesive manufacturers. The miniaturization trend in electronics is another factor helping in spurring demand, particularly for conductive adhesives. The nation’s chemical industry is also growing, thereby, promoting the growth of adhesive applications as well. As Malaysia is a growing economy, these industrial developments are also supported by the government, which is positively affecting the growth of the adhesive market in Malaysia.
However, the sudden decline in the automotive production in the country, experienced in 2017, has slowed down the market growth.
Paper, Board & Packaging Industry Dominates the Market
The packaging industry accounts for 68.8% of the total adhesive industry, in terms of revenue, in Malaysia. Adhesives are widely used in paper bonding, owing to their physical properties. Their applications range from corrugated box construction and the lamination of printed sheets, to packaging materials used for all types of consumer products. Therefore, the overall market of adhesives & sealants is expected to have a high growth in the country as its end-user industries are showing a positive growth. Out of paper, board and packaging, the packaging sector accounts for the largest market for adhesives and its applications include composites containers & tubes, bags, carton side seam & closures, cups, labels, remoistenable products, specialty envelopes, foil laminates, films, and disposable (non-woven) & corrugated board. In Malaysia, the packaging industry is growing rapidly. This positive growth is attributable mainly to the strong demand from the food & beverage packaging. The rising demand for fast-moving consumer goods among Malaysia’s strong middle-class population has been a major boost to the market. The Malaysian adhesives market is anticipated to grow with the growth of the packaging industry.
Notable Developments in the Market
December 2017: Arkema announces a project to double its chemicals production capacity of adhesives in Malaysia.
The major players include - SIKA, HENKEL, 3M, ARKEMA GROUP, H.B. FULLER CO., ADTEK MALAYSIA SDN. BHD., JOWAT SE, and MAPEI MALAYSIA SDN. BHD., 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 identify the end-user industry that is likely to witness the fastest growth during the forecast period
Identify 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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