Thailand Secures $690M in Advanced Materials Investments Driven by AI and EV Boom

Klik

Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI)

BANGKOK — Global manufacturers of high-tech components—from capacitors and magnets to specialized battery materials—are ramping up investments in Thailand. Between 2023 and the first half of 2026, the Thailand Board of Investment (BOI) registered 35 advanced materials projects worth approximately $690 million (23.5 billion baht).

The surge reflects a strategic shift for Southeast Asia's major manufacturing hub, pivoting from traditional downstream assembly toward high-value upstream supply chains powering AI servers, electric vehicles (EVs), and clean energy technologies.

The investments cover critical components including multilayer ceramic capacitors (MLCCs)—where a single high-end AI server uses up to 30,000 units—synthetic graphite films, high-performance ceramics, neodymium magnets for EV motors, and glass fabrics for printed circuit boards.

"The world is moving toward products that are smaller and lighter, yet stronger and more efficient. 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," said Narit Therdsteerasukdi, Secretary General of the BOI.

Industry Giants Deepen Thai Footprint

Thailand has solidified its status as a core base for market leaders, including Japan’s Murata Electronics—which commands over 35% of the global MLCC market—and Kyocera AVX Components.

Recent project filings highlight key global players establishing operations:

Electronics & AI Infrastructure: Taiwan’s Fultech Fiber Glass (PCB glass fabric for AI servers) and Jones Tech (thermal graphite films for heat dissipation).

EVs & Clean Energy: BGN Thai (coated foils for lithium-ion batteries), Phinis Well (neodymium magnets), and Xinyuan Graphite (bipolar plates for fuel cells).

Precision & Industrial Materials: US-based CoorsTek (engineered ceramics for sensors and hybrid bearings) and Golden Egret Cemented Carbide (tungsten carbide powders).

Building the Region's Advanced Materials Hub

By strengthening upstream supply chains, supporting R&D, and expanding skilled workforce development, the BOI aims to solidify Thailand's position as Southeast Asia's premier center for advanced materials—underpinning the region's transition to a high-tech, sustainable economy. (*/editor).