The Thai unit of Michigan-based Dow Chemical Co has launched a new innovative coating for industrial products and construction works, expecting to capitalise on rising demand as the government promotes construction and investment.
Tony Lu, a senior marketing manager of polyurethanes in Asia-Pacific, said the new product is an elastomer type of polyurea coating imported from China to be sold in Thailand for the first time.
"The product suits several industrial sectors in Thailand," said Mr Lu.
The company imports the product because there is no production plant in Thailand. He said Dow has three major production bases for polyurea coating products: China, the US and France.
Polyurea coating provides protection and is commonly used for abrasion resistance, corrosion protection, as a waterproofing chemical, and for environmental or atmospheric resistance decoration and structural enhancement.
To penetrate the Thai market, Dow Chemical has partnered with a Thai protective coating company, Thanavut Composite Co Ltd, to enhance sales in the beginning stages.
Vuthichai Tumsujarit, managing director of Thanavut Composite, expects total sales volume in the first year to be 70-100 tonnes as it is a specialist product.
Sales should rise further the next few years as government investment in infrastructure and new investment in several industrial sectors spurs demand, he said.
"We have around 200-300 clients and this could be the first customer base for the new product the first year," said Mr Vuthichai.
He said major customers are in the industrial sectors dealing with oil pipes, power plants, auto parts and petrochemical plants.
Thanavut Composite expects to expand business by launching the coating products in other Asean countries such as Indonesia, Malaysia and the Philippines.