Thailand Board of Investment (BOI) has received 35 advanced materials investment applications worth about $690 million, or 23.5 billion baht, since 2023. Filed through the first half of 2026, the projects support components and materials used in AI servers, electric vehicles, batteries and clean energy equipment. The pipeline includes capacitors, thermal graphite films, battery materials and magnets for EV motors. It signals Thailand’s push to expand from downstream assembly into higher-value materials manufacturing.
Materials Behind AI Growth
The applications cover multilayer ceramic capacitors, high-performance ceramics, glass and quartz fabrics for printed circuit boards, and nanomaterials for precision manufacturing. These products have a direct role in the performance of electronic devices, particularly where heat resistance, conductivity and compact design are required.
Multilayer ceramic capacitors, known as MLCCs, are used across products from smartphones to AI servers. A single high-end AI server can use up to 30,000 of the components, creating demand for suppliers that can manufacture at scale.
Narit Therdsteerasukdi, Secretary General at Thailand Board of Investment, said:
“The world is moving toward products that are smaller and lighter, yet stronger and more efficient,”
Electronics Supply Chain Investment
Thailand already hosts component makers including Japan’s Murata Electronics, which holds more than 35 percent of the global MLCC market, and Kyocera AVX Components, the world’s top tantalum capacitor maker. The new applications add further capacity in the materials that support electronics production.
Taiwan’s Fultech Fiber Glass is developing glass fabric for printed circuit boards, including high-performance grades for AI servers. Jones Tech is producing synthetic and natural graphite films designed to carry heat away from electronic devices, an important function as computing equipment becomes more powerful.
The mix of projects points to a broader industrial base than final product assembly alone. Materials such as graphite films, glass fabrics and specialist ceramics sit earlier in the supply chain, giving manufacturers access to inputs needed by electronics producers.
EV And Clean Energy Materials
The investment plans also extend into electric mobility and clean energy. BGN Thai is producing coated foils for lithium-ion batteries, while Phinis Well is making neodymium magnets for EV motors. Xinyuan Graphite is developing bipolar plates for hydrogen fuel cells.
CoorsTek Advanced Materials, a subsidiary of US-based CoorsTek, has invested in ceramics for automotive pressure sensors and silicon nitride balls for hybrid bearings used in EVs and wind turbines. Golden Egret Cemented Carbide is making tungsten carbide powders for precision cutting tools, supporting high-precision manufacturing activity.
These projects connect Thailand’s materials sector with several industrial markets at once, including EVs, batteries, wind energy, hydrogen equipment and semiconductor-related manufacturing. The investment pipeline reflects the range of components required to support those sectors.
Building Upstream Manufacturing
The BOI describes the advanced materials projects as part of a move towards upstream production, where materials and components are made before final assembly. The agency is seeking to strengthen domestic supply chains while supporting research and development, technology and workforce development.
Narit Therdsteerasukdi, Secretary General at Thailand Board of Investment, stated:
“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.”
The projects represent a substantial investment pipeline for a country already established as one of Southeast Asia’s largest economies. By attracting manufacturers of specialist materials alongside component and vehicle producers, Thailand is building capacity for the industries supplying AI computing, electric mobility and clean energy.
Narit Therdsteerasukdi, Secretary General at Thailand Board of Investment, reflected:
“The advanced materials industry taking root in Thailand today is the foundation of tomorrow’s supply chains in electronics, EVs, batteries, and clean energy,”
Narit Therdsteerasukdi, Secretary General at Thailand Board of Investment, stated:
“The BOI will keep building this investment base, strengthening upstream materials and components, and supporting R&D, technology, and workforce development, to move Thailand from downstream to upstream production and make it the region’s advanced materials hub.”
