P.S.P. Specialties to tap e-commerce trend through partnership
Lubricant manufacturer P.S.P. Specialties Co is joining hands with virtual marketplace operator WhatsEGG (Thailand) to seek new business opportunities through online auto parts sales as their market value is expected to reach 7 billion baht in five years.
WhatsEGG has developed "Egg Mall", a major online marketplace facilitating trade between auto parts manufacturers and their customers.
P.S.P. Specialties sees an opportunity to sell its products online and wants to catch the growing e-commerce trend.
"Thailand's digital platform for automotive parts will grow by 100% to 7 billion baht in value in 2026," said Pavares Boontanonda, chairman of P.S.P. Specialties' board.
Digital technologies are playing a more important role in increasing the competitiveness of companies across industries.
The government is also supporting high-speed Internet infrastructure development projects, a digital economy plan and the Thailand 4.0 scheme, which emphasises a transition to technological advances and high-level services.
"A result is that online marketplaces in many industries have grown significantly, especially for consumer goods and automotive parts," said Mr Pavares.
"It is a great opportunity for the company to invest in the online market."
Sint Krongphanich, P.S.P. Specialties chief executive, said he expects the digital platform business will add value to his company and expand the customer base.
"It will strengthen the company's expertise, create a wide range of innovative businesses and add value to our existing offerings," he said.
P.S.P. Specialties also sells services related to lubricants and speciality products in the automotive and industrial sectors.
"With our expansion into the online business and help from our partner WhatsEGG, we are confident we can develop the best marketplaces for automotive components and spare parts in Thailand," said Mr Sint.
Established in 1989 to provide petroleum storage for leading oil firms, the company now stores and distributes over 3,000 million litres of fuel a year, with turnover of 10 billion baht.