Thailand records $690 million in advanced materials proposals

Thailand has drawn 35 investment proposals for advanced materials worth around $690 million, driven by demand for artificial intelligence hardware, electric vehicles, and clean-energy equipment. Between 2023 and the first half of 2026, the Thailand Board of Investment (BOI) received 23.5 billion baht in applications, covering specialized components and industrial materials for electronics, batteries, electric motors, and hydrogen technologies.

The applications encompass multilayer ceramic capacitors, graphite films, engineered ceramics, neodymium magnets, battery materials, and specialized glass and quartz fabrics for printed circuit boards. Nanomaterials for precision manufacturing are also included. Domestic production of these materials could reduce dependence on imports and enable Thai suppliers to participate in higher-value international manufacturing networks.

The BOI aims to develop industries supplying essential inputs rather than relying primarily on assembly operations. Taiwan’s Fultech Fiber Glass and Jones Tech are among the companies involved, with Fultech producing glass fabrics for circuit boards and Jones Tech manufacturing graphite films. Other projects target electric transport and energy storage.

Established electronic component manufacturers, including Japan’s Murata Electronics and Kyocera AVX Components, are part of Thailand’s industrial base. The BOI plans to support research, technology development, and workforce training to increase the share of advanced materials and components manufactured domestically.