Recently, Thailand's largest coatings manufacturer, Thailand TOA Group, released its 2025 annual performance report. Data shows that in 2025, TOA's sales revenue reached 21.589 billion Thai baht (approximately 695 million USD), a year-on-year increase of 2.1%. Notably, overseas markets such as Myanmar and Vietnam performed well in coatings business, while expansion in the domestic Thai architectural coatings and chemicals sector also contributed to growth. Profit attributable to shareholders was 2.917 billion Thai baht, a significant year-on-year increase of 52.0%.
In its financial summary submitted to the Stock Exchange of Thailand, TOA mentioned that the Thai economy faced multiple challenges in 2025, including delays in economic restructuring, trade wars, and geopolitical conflicts, which affected the profitability of coatings companies. Against this backdrop, TOA focused on differentiating itself in the coatings market by providing "comprehensive coating solutions," expanding into high value-added coatings products, and prioritizing growth in the "renovation and maintenance" coatings market to enhance competitiveness.
Although approximately 18% of TOA's coatings sales come from overseas markets, mainly concentrated in Southeast Asian countries, the company does not directly operate coatings business in China. However, historical information indicates that TOA established Shanghai TOA Paint Co., Ltd. in China in 1996 and built a coatings sales network, but later withdrew for unknown reasons. However, in January 2026, TOA obtained China's Compulsory Product Certification (CCC certification) for water-based interior wall coatings, which is seen as a signal that it may re-enter the Chinese coatings market through imported coatings. According to investigations, this CCC certification was facilitated by Dongguan Taitai Coating Building Materials Technology Co., Ltd., which may have become TOA's coatings agent in China.
TOA Group CEO Jatuphat Tangkaravakoon stated that the company will continue to monitor market dynamics in the coatings industry and flexibly adjust its strategies to cope with the ever-changing market environment. Obtaining the CCC certification is an important step in TOA's strategic layout for the Chinese coatings market, and the company may further expand its business through imported coatings in the future.
