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South East Asia Watch Bureau – Rising Digital Economy, Losing International Bathroom Companies

Original Shi Yangyan Kitchen & Bathroom News

After Vietnam, Thailand has also become one of the recent spotlights in Southeast Asia.

In this issue, the kitchen and bathroom information about Thailand’s bathroom industry and market.

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As the second largest economy in Southeast Asia after Singapore, Thailand’s Economic and Social Development Board data show that in 2021, Thailand’s GDP of $ 505.5 billion. Even if Thailand’s GDP per capita reached $7,407, it is still a market more suited to scale, rather than quality.

In 2021, although the Thai construction and sanitary ceramics market out of the more serious decline in 2020, but the overall still show a contraction. This situation also occurred in the UK market, according to the latest Kitchen and Bathroom Market Index (KBMI) quarterly series of reports in the latest key findings, the UK kitchen and bath market in the second quarter “there is a clear pattern of sales deceleration. The overall KBMI was the lowest since the fourth quarter of 2020. At the same time, full-year kitchen and bathroom sales were revised downward by 5.7 percentage points in 2022.

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The building materials industry in Thailand accounts for 60% of construction costs. The two main categories of building materials (e.g. cement, ready-mixed concrete and construction steel) and home improvement products (e.g. tiles and sanitary ware), together account for 64% of total sales.

Thailand’s major kitchen and bathroom companies in the past five years performance

Total revenue Net Profit
2021 2020 2019 2018 2017 2021 2020 2019 2018 2017
Kohler 4,516,354,57600 3,942,626,428 00 4283,182,173.00 4,502,174,579.00 4.062,68270900 177.625.17100 99,994,801.00 51.970.64300 336,560,02800 309,126,49200
Runner 3,557513,61200 2,483,497,151.00 338,475,317.01 101,839,611.00 84,628,064.00 -6,415,75623
Siam 4,626,843,452.00 4,542101,106.00 4.779,7(X1239.00 4,686,634,35300 4,910,077.898.00 71,163205.00 17,684,447.00 -61.544.608.00 -9,714,188.00 4269,061.00
TOX 3,753,555,069.00 2,853,993291.00 2206,685,640.00 1,731,979,88900 1r653,74Z603.0d 50.647,351.00 7,079.057.00 -124,957217.00 56,533.47200 117,809,150.00
VRUNION 435,418,65300 458,157,65900 493,206.66400 522,947,12900 544,734.14100 37.980,63200 46,680,242.00 39,321.544.00 50,021,49700 68,351,80400
AQUA 267297,35197 420221,09964 491,203.39952 421,319^9102 464789,31133 735315.44 3,642,571.54 4,303,702.32 3,067,74638 3757,560.66
Roca 12^253249.00 99266,783.00 115,315,720.00 93.600,84000 84256.45600 90,158.00 -28,037.545.00 -22254.88600 -25,617,472.00 -28,454,65200
STAR 104.686,070.51 124,137,885.16 161,728.848.16 133,887,032.00 137,898.03200 73,541.87 130,261.42 1.556.638.69 116,38066 2105.306.75
VWW 169,430.61

1,342,781,580.00

169,19161

1,185.360.09900

227,111.14

1,057,195,895.00

1,743,41175

1.353,426,06200

3,528.46700

1,131.949.923.00

-3.104254.72′

-11.460,97300

-3,396,917.67
-60,057,060.00
-2,744.63015
-60,857.567.00
-2,419,942.50

89.438.96000

-3.509.09525

-83,193,9^100

Villeroy & Boch 88,123,96764 005 -36.729,63892 ~^77;84795
Panasia 3,449,497,69200 4,159,302,360.00 4,165,833,317.00 4,136,046,781.00 4,678,966,771.00 -382,486,224.00 -295,925,783.00 25,581,876.00 263,996,681.00 341.83Z987.00

Source DBD . Kitchen and bathroom information (for dustpan only) Unit: Thai Baht

Major Bathroom Companies in Thailand

Source: DBDf kitchen and bathroom information statistics

# Registration number Company name Registered capital Registered time

Business scope

1 105547072566 KOTLER INTERTRADING

COMPANY LIMITED

4,000,000 May 28, 2004 Ceramic sanitary ware sales, manufacturing
2 413560001991 CONSTRUCTION WORK CENTER AND SERVICE LIMITED PARTNERSHIP 1.000,000 July 3, 2017 Construction of non-residential buildings
3 525535000367 SIGMA CERAMIC CO.. LTD 32,000,000 September 7, 1992 Manufacturing and sales of ceramic sanitary ware
4 205541003529 SHIN THAI ENTERPRISE CO., LTD. 60,000,000 July 13, 1998 Manufacturing and sales of porcelain sanitary ware
5 745556004467 DP PLUS CONSTRUCTION

COMPANY LIMITED

1.000,000 July 15, 2013 Manufacturing and sales of ceramic sanitary ware
6 105539043986 DUSCHOLUC (SIAM) LTD. 61,000,000 April 11, 1996 Manufacture and distribution of shower screens and accessories
7 133559005581 SONGPANYASUPPLY LIMITED PARTNERSHIP 1.000,000 November 17, 2016 Manufacture and sales of ceramic sanitary ware
8 105555160444 TAJE STAINLESS STEEL PRODUCTS (THAILAND)
COMPANY LIMITED
100,000.000 October 26, 2012 Manufacturing and sales of ceramic sanitary ware
9 105548007806 T.SW. SHOWER SERIES
COMPANY LIMITED
1.000,000 January 18, 2006 Ceramic sanitary ware manufacturing, sales
10 105546014597 TPS METERIALS COMPANY LIMITED 150,000,000 February 3, 2003 Ceramic products manufacturing, distribution
11 105532106389 NASCO SANITARYWARE
(THAILAND) COMPANY LIMITED
40,000,000 November 7, 1989 Ceramic sanitary ware manufacturing, sales
12 115536005382 NEWTOUNG MARKETING

COMPANY LIMITED

7.000,000 August 20, 1993 Wholesale of sanitary ware manufacturing
13 105553146321 BLUE OZONE COMPANY LIMITED 1.000,000 November 26, 2010 Ceramic sanitary ware manufacturing
14 745547003020 BOSS ACCESS COMPANY
limited
2,000,000 September 10, 2004 Ceramic sanitary ware production
15 105540000934 FUNCTION TRADING COMPANY
LIMITED
225,000.000 January 3, 1997 Management of water purifier factory drinking fountains, pumps and equipment parts
16 105541014271 YI-THAI INTERNATIONAL CO LTD. 37.000.000 March 4, 1998 Ceramic sanitary ware production
17 105541079283 LUCKY WORK COMPANY LIMITED 1,000,000 December 24, 1998 Distribution of sanitary ware and plumbing equipment
18 107536001443 LIXIL(THAILAND) PUBLIC
COMPANY LIMITED
277,000.000 November 30, 1993 Manufacturing and sales of sanitary ware
19 105553108941 LEE YONG HONG GROUP COMPANY LIMITED 2.000,000 September 7, 2010 Import and export sanitary ware and related equipment production and sales
20 105557078923 WAKO (THAILAND) COMPANY LIMITED 2,000,000 June 6, 2014 Business, trade, production, installation, distribution, import and export of prefabricated bathrooms
21 105537075988 VILLEROY&BOCH (THAILAND)

COMPANY LIMITED

990,500.000 June 30, 1994 Manufacture and sales of ceramic sanitary ware
22 105531051181 V.R.UNION COMPANY LIMITED 65,000,000 July 11, 1988 Manufacture and sales of sanitary ware
23 105558085940 STAR SANITARYWARE

(THAILAND) COMPANY LIMITED

142.529.792 May 25, 2015 Manufacture and sales of sanitary ware
24 105532055202 Siam Sanitaryware Industry Co Ltd 200,000,000 June 16, 1989 Manufacture and sales of sanitary ware
25 105540024655 1NDUSTRY(NONGKAE) COMPANY

LIMITED

160,000.000 March 1997 10 0 Manufacturing and sales of sanitary ware
26 135559022526 SUKKAPAN SUPPLY COMPANY Limited 1.000,000 November 17, 2016 Manufacture and sales of various sanitary ware accessories
27 105555005201 SUKHAPHAN CORAL CO.XTD. 2.000,000 January 12, 2012 Manufacture of ceramic sanitary ware
28 215559004063 LUOBANG KITCHEN & BATH (THAILAND) COMPANY LIMITED 120,000,000 June 2016 15 0 Manufacture, distribution, import and export of sanitary products
29 105537100681 IMEX INTERNATIONAL INC. 161,000,000 August 26, 1994 Manufacture and sales of mosaic and sanitary ware
30 735553003184 E.T.C CERAMICS PRODUCTS CO.LTD. 1.000,000 October 6, 2010 The manufacture of ceramic glassware, plate ware, and export of the export
31 205562035683 KREINER INTERNATIONAL

(THAILAND) CO., LTD

36,000,000 September 24, 2019 Manufacture of bathtubs and other lining sanitary ware
32 105544019036 THE BATHROOM COMPANY LIMITFD 2000,000 February 23, 2001 Sales of sanitary ware
33 105556198402 TERRANE SANITARY COMPANY LIMITFD 3.000,000 December 24, 2013 Manufacture and sale of various sanitary ware
34 105561131566 REINDEER GOLDEN COMPANY LIMITED 1.000,000 August 2, 2018 Manufacture of ceramic sanitary ware
35 743535000410 SAWAGAEW INDUSTRIAL

LIMITED PARTNERSHIP

500,000 March 18, 1992 Sale of ceramic sanitary ware
36 125557023282 LABDEREVE INTERNATIONAL
TRADING COMPANY LIMITED
1,000,000 October 14, 2014 Management, retailing, trading, production and sales of various sanitary ware
37 105557174736 ADVANCE RESEARCH PRODUCT COMPANY LIMITED 2.000,000 November 26, 2014 Distribution of induction sanitary ware
38 105551116688 HAPPY TOILET COM PANY LIMITED 33,000,000 October 14 S 2008 Sale of sanitary ware including accessories for such products
39 233547000228 GOLD LIP LIMITED PARTNERSHIP 5000,000 April 23, 2004 Production of ceramic sanitary ware
40 107536001460 KOHLER (THAILAND) PUBLIC

COMPANY LIMITED

472,000,000 December 7, 1993 Wholesale and retail of lithium sanitary ware and accessories
41 195552001108 TOTO (THAILAND) COMPANY LIMITFD 5.240,000.000 November 27, 2009 Production of ceramic sanitary ware
42 105539042076 Orocks Co Ltd 4.000,000 April 5, 1996 Manufacture and distribution of ceramic products
43 105511000336 THAI CERAMIC INDUSTRY 120,000.000 January 18, 1968 Sanitary ware
44 145558002033 COMPANY LIMITED

THAI LIAN FENG COMPANY

2.000,000 May 26, 2015 Sales of sanitary ware
45 125544006848 PRIMENINE INTERNATIONAL CO.XTD. August 8, 2001 Retail and wholesale shower screen spa bath
46 105539035258 HYDRO PRODUCTS EXCELLENT CO. LTD. 5,000,000 March 21, 1996 Sale of water spouts
47 105562073403 Runner Industry (Thailand ) Co., Ltd. 800,000.000 April 22, 2019 Manufacture of plastic kitchen and bathroom products
48 215563009775 PANASIA KITCHEN AND BATH PRODUCTS INTERNATIONAL

(THAILAND) CO., LTD

65,000,000 December 9, 2020 Manufacture and sale of metal cabinets, bathroom cabinets, bathroom hardware products
49 205542006955 YUAN LIN (THAILAND) CO. LTD. 2.000,000 November 12, 1999 Manufacture and sales of bathroom accessories
50 105535127735 AQUABATH COMPANY LIMITED 150,000.000 September 11, 1992 Manufacturing and sales of bathroom accessories
51 105557061150 ROCA BATHROOM PRODUCTS
(THAILAND) COMPANY LIMITED
166,075.500 April 30, 2014 Wholesale business of pipe fittings and sanitary ware

Medium and large Thai manufacturers enjoy advantages over smaller players due to their strong financial base, better management of production processes, and favorable bargaining position. In contrast, smaller operators tend to be in a weaker financial position, which forces them to produce only products within limits or to focus on producing single categories.

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In Thailand, current foreign companies in ceramic sanitary ware include Lixil, TOTO, Villeroy & Boch, Kohler, Roca (trading company), China Runner, Panasia and others. Thailand’s largest cement producer and industrial group SCG Group’s tile section Siam Ceramics (previously set up a joint venture with TOTO COTTO brand), etc. The largest number of foreign companies are Japanese-funded. Most Chinese companies are concentrated in the Rayong Province Industrial Park, jointly developed by China’s Huali Group and Thailand’s Amata Group. According to DBD data, a number of foreign companies with factories in the area showed losses last year.

According to the data of OIE, Thailand’s Ministry of Industry and Economy, there are currently 321 companies in the whole ceramic industry, employing about 39,618 people. The annual production of ceramic tiles is 12.72 million square meters, and there are 6.93 million pieces of sanitary ware.

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In 2020, Thailand’s tile and ceramic sanitary ware revenues contracted by 6.6%, but the net profit margin stabilized at 7.4% due to a significant decrease in energy costs. In 2022, although exports grow, production and domestic sales show contraction due to inflation, pandemic and other factors.

In the first six months of 2022, production of sanitary ceramics in Thailand was 3,504,400 units, down 6.8% year-on-year. Sales in the domestic market were 1,618,800 units, down 0.8% year-on-year. During the period, exports of sanitary ceramics were 3,804.72 million baht (approximately RMB 730 million), an increase of 1.54% year-on-year. The export of ceramic tiles was 2,384.37 million baht (about 460 million yuan), an increase of 52.46% year-on-year.

The important factors currently affecting business include, in addition to energy prices, the prices of various raw materials that have risen. According to the Thai Ministry of Industry and Economy data show that the price of sanitary ware in the second quarter compared with the first quarter of this year increased by 12.9%. In July, prices in the tile category increased by 4.6 percent, wood and wood products by 4.4 percent, pipes by 3.3 percent, and sanitary ware by 0.4 percent.

 

The Rising Digital Economy in Southeast Asia

Thai building materials distribution giants expand stores, flock to online

(Due to space constraints, a channel feature will be published later, so stay tuned)

While new housing starts in Thai real estate are down, four major regions – Bangkok, Chiang Mai, Chonburi, Khon Kaen and Phuket – which together account for 78% of all new housing starts in Thailand, saw a 5.0% decline in the number of new housing starts completed in 2021. Weakness in private construction also contributed to a 9.3% decline in imports.

But since late last year, Thai building materials distribution giants have been scrambling to expand their stores and have flooded the online market.

Thailand has about 8,200 building material distributors, spread among 163 large companies, 723 medium-sized operators and 7,332 small companies. Six large companies dominate the market with a combined share of 24%: Home Product Centre Public Company Limited (whose brand HomePro itself is more retail-oriented, while MegaHome focuses on wholesale and trading), Central Retail Corporation (whose Hardline business group is primarily focused on the retail sector), and the Thai Construction Materials Association. (the main brand of its Hardline business group, Thai Watsadu), Siam Global House Public Company Limited (hereinafter referred to as “Siam Global House”), Dohome and Boonthavorn.

According to Prachachat Business’ survey of the four leading Thai distribution home furnishing stores in 2020, the overall revenue of the four companies in 2021 was 187.544 billion baht, an increase of 17.02% year-on-year. The overall net profit increased to 10,878 million baht, a growth rate of 33%.

As the industry leader, HomePro’s revenue in 2021 was 63.926 billion baht, up 3.53% year-on-year, and net profit was 5.44 billion baht, up 5.54% year-on-year. By the end of 2021, HomePro had 87 HomePro stores and added 28 new stores.

The second largest is Hardline. The business is located in Thailand and Vietnam. In 2021, it generated revenue of Bt63.565 billion and EBITDA increased by 82.06% year-on-year. By the end of 2021, Thai Watsadu branches reached 59.

The third is Siam Global House. Its brands include Global House with revenue of Baht 34,116 million, up 24.72% year-on-year. Net profit was Baht 3,344 million, an increase of 70.03% year-on-year. By the end of 2021, Global House had 75 branches and added 4 new branches.

The fourth oldest is the rising star Do Home, which had revenue of 25.937 billion baht, up 37.5% year-on-year. By the end of 2021, there were 13 stores in operation, including 6 new branches.

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In addition to the frenzy to open stores, several giants have rushed into e-commerce.

According to the report “Southeast Asia Digital Economy 2021” jointly published by Google, Temasek and Bain, cashless payments such as e-commerce, taxi and takeaway are increasingly becoming the preferred choice for a seamless experience as Thailand’s digital economy grows rapidly.

Supported by national payment systems such as PayNow in Singapore and PromptPay in Thailand, the Account-to-Account (A2A) real-time payment system has enabled a large number of unbanked people to take a direct step-change in payment forms, from having 0 bank cards to having a digital wallet. As the second largest online user after Singapore, PromptPay Thailand has recorded a year-on-year growth of approximately 80% in transaction volume for the single month of April 2021 alone.

The overall size of e-commerce in Thailand is now over 4 trillion baht. The wholesale and retail segments alone generate 1.3 trillion baht in revenue.

Thailand’s current e-commerce channels include large e-commerce platforms Shopee, Lazada, JD Central, individual independent sites in addition to Tiktok, Facebook and other social e-commerce in Thailand’s online market is also gradually occupying an important position. COTTO has a strong position in the local market, and STARS is the next local brand.

The development of Thailand’s digital economy will also drive diversified forms of consumption and consumer demand. Thanks to the Thai government’s increased investment in infrastructure, the Eastern Economic Corridor (EEC) and the China-Laos Railway, the country’s large-scale transportation links, OIE’s expectations for the pottery industry in Thailand are above 3%.

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Source: MOC Thailand, OIE, DBD, KRUNGSRI This article is for reference only. No warranty, express or implied, is made as to the accuracy, reliability, timeliness and completeness of the information contained herein.

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