AI and EV Boom Draws $690 Million in Advanced Materials Investment Plans to Thailand

BANGKOK, THAILAND – October 24, 2026 – Advanced materials producers are eyeing Thailand as a key hub for investment as demand for artificial intelligence, electric vehicles (EVs), and clean energy surges. Since 2023, 35 projects worth approximately $690 million (23.5 billion baht) have been filed with the Thailand Board of Investment (BOI), Thailand's investment promotion agency.

These projects cover a range of materials, from multilayer ceramic capacitors (MLCCs) and thermal graphite films to neodymium magnets, glass, and quartz fabrics.

Mr. Narit Therdsteerasukdi, Secretary General of the BOI, highlighted the shift towards high-value materials that are crucial for the performance of AI and clean energy devices. "Producing advanced materials in Thailand is key to building sustainable industrial capacity, reducing reliance on imports, and opening the door for Thai companies to join higher-value supply chains," he said.

Thailand is already a production base for major component makers, including Murata Electronics and Kyocera AVX Components. New projects include Fultech Fiber Glass, which produces glass fabric for printed circuit boards, and Jones Tech, which manufactures synthetic and natural graphite films for heat dissipation. Other investments are strengthening EV supply chains, with BGN Thai's coated foils for lithium-ion batteries and Phinis Well's neodymium magnets for EV motors.

CoorsTek Advanced Materials, a subsidiary of the US-based CoorsTek, is investing in ceramics for automotive pressure sensors and silicon nitride balls for hybrid bearings. Golden Egret Cemented Carbide is producing tungsten carbide powders for precision cutting tools, further enhancing Thailand's high-precision manufacturing capabilities.

Mr. Therdsteerasukdi emphasized that the advanced materials industry's establishment in Thailand is laying the foundation for future supply chains in electronics, EVs, batteries, and clean energy. The BOI plans to continue building this investment base, focusing on upstream materials and components, R&D, technology, and workforce development to transform Thailand into a regional advanced materials hub.