Malaysia Adhesives market - Segmented by Type and Application - Trends and Forecasts (2017 - 2022)
The Malaysia Adhesives Market was valued at USD 193.61 million (in terms of revenue) and 65.62 kilo tons (in terms of volume) in 2016 and is projected to reach USD 259.92 million and 79.70 kilo tons by 2021, at a CAGR of 6.07% and 3.96%, respectively, during the forecast period, 2016 to 2021.
Adhesives and sealants are often grouped together, as they both are applied to the surfaces of materials to adhere and seal them together. They are generally available in the liquid form, which is viscous in nature, with no or little flow characteristics. Adhesives are majorly chosen for their bonding and holding power and have high tensile and shear strength. Adhesives are of two varieties, namely structural adhesives (strength is vital for the success of the assembly) and non-structural adhesives (generally have low strength, are used to bond weak substrates and for temporary fastening).
Adhesives, owing to their ability to bind different materials together by distributing stress more efficiently across the joint, are becoming an integral part of various commercial and industrial sectors. In the global adhesives and sealants market report, we have considered the following major end-user sectors:
building and construction
paper, board, & packaging
woodworking and joinery
footwear & leather
electrical & electronics
The paper, board & packaging segment is expected to dominate the Malaysia adhesives market, with a share of XX% in 2016.
The market is driven by number of factors such as rising purchasing of the consumers and increasing demand from the packaging industry. However, this market faces certain drawbacks such as stringent regulations regarding VOC emissions. The factor may act as a roadblock to the growth of the market.
The Malaysia adhesives market, based on technology can be broadly segmented into water-borne adhesives, solvent-borne adhesives, reactive adhesives, hot melts adhesives, and others. These are again segmented according to the sub-segmentations of the technology. In terms of revenue, in 2016, XX segment is expected to dominate the market with a share over 50%.
Malaysia has been witnessing a substantial increase in investments for expansion of adhesive facilities by the major global manufacturers, because of continuously increasing demand for adhesives in the country. The proximity of raw materials, manufacturing site and customers is a crucial advantage for the success of a global strategy. In order to provide the optimum service for the market-specific customer requirements, efficient regional supply structures as well as local product developments are an absolute must.
Furthermore, the shifting focus towards bio-based tackifiers will offer numerous opportunities for the growth of the Malaysia adhesives and sealants market. Some of the major companies dominating the market with their products and services are Sika, Henkel, H.B. Fuller, Jowat, and Mapei.