Marking three decades of success in Vietnam, Thailand’s leading paint and chemical manufacturer is charting an ambitious path forward. Under the theme ‘Painting Dreams, Building Futures,’ TOA Paint (Thailand) Public Company Limited or TOA has unveiled a vision to expand its business, strengthen its leadership in innovation, and drive sustainable growth in the Vietnamese market, reinforcing its standing as a trusted brand for consumers and partners alike.
Founded as Thailand’s No. 1 paint brand, TOA has steadily expanded across ASEAN. Beginning with the import of premium-quality paint from Japan in 1964, the company entered Vietnam in 1995 with the establishment of TOA Paint (Vietnam) Co., Ltd., reflecting its philosophy of ‘fishing in the ocean’ by growing beyond domestic borders to become a key regional player.
Today, TOA’s comprehensive product portfolio spans decorative paints, wood coatings, industrial coatings, construction chemicals, ready-mix mortars, tiles, gypsum boards, and JOMOO sanitary ware. Its breadth of offerings has enabled it to outperform several global top-five competitors and consolidate its position as a major force in ASEAN. The company now operates production plants in seven countries: Thailand, Vietnam, Myanmar, Cambodia, Laos, Indonesia and Malaysia, underlining its regional success and growth potential.
Mr Jatuphat Tangkaravakoon, CEO of TOA, noted that entering the Vietnamese market three decades ago was a strategic step that embodied TOA’s philosophy of ‘thinking ahead, acting first.’ Leveraging its expertise and innovation from Thailand, the company successfully tapped into Vietnam’s dynamic real estate sector and resurgent industrial production, paving the way for sustained growth and recognition as a regional industry leader.
TOA Vietnam’s performance has been outstanding, recording average annual sales revenue of over THB 1.5 billion in the past three years. Its distribution network now covers more than 1,200 retail stores and major projects nationwide. TOA’s commitment to R and D has yielded climate-appropriate innovations, such as heat-reflective coatings, mould-resistant formulas and eco-friendly solutions. These advances earned the Golden Dragon Awards 2023 in the ‘Premium Products’ category, further cementing support from contractors and designers. Overseas markets currently contribute around 15% of TOA’s total revenue.
In November 2023, TOA (Vietnam) opened a state-of-the-art distribution centre in Ho Chi Minh City to bolster production and logistics capacity. Equipped with automated systems and LEED Gold-certified processes, the centre enables a fivefold increase in storage and distribution while cutting CO‚ emissions through reduced fossil fuel use, a tangible step in TOA’s sustainability journey, reaffirming its commitment to preserving the environment and reducing impacts on climate conditions.
Looking ahead, the company plans to expand its market coverage and product portfolio, with a strong focus on construction chemicals to provide end-to-end solutions. It will continue investing in eco-friendly innovations, including low-VOC paints certified with Singapore’s Green Label, aligning with both consumer demand and government sustainability policies. Brand reinforcement will involve closer collaboration with customers, partners and distributors, restructuring distribution channels, and establishing more regional hubs in remote provinces to serve millions of consumers more effectively. This also includes increasing the production efficiency to strengthen the TOA’s sustainable growth along with consumers.
Mr Jatuphat emphasised that over its 61 years in Thailand and 30 years in Vietnam, TOA has consistently upheld its leadership in paints and chemicals across Southeast Asia. ‘We are committed to sustainable growth founded on good governance and transparency, aiming to create long-term happiness for future generations while supporting community and environmental development,’ he said.
He expressed gratitude to stakeholders, customers, partners and employees, whose trust and dedication have been central to TOA’s success. With decades of experience, he added, TOA is confident it will continue to hold a strong place in consumers’ hearts while advancing its presence across ASEAN.