Nippon Paint Thailand aims to become top Thai coatings manufacturer by 2026

Nippon Paint in Thailand is aiming to ascend to the top leadership position in the Thai paint and coating industry by 2026. Currently it has kicked off with a new advertising campaign, ‘Inspired by You’ to establish a memorable brand distinct from its competitors.

The initiative is accompanied by a comprehensive and continuous 360-degree marketing campaign, aiming to solidify its position in the market.

Mr. Watchara Siririthichai, General Manager of Nippon Paint Decorative Coatings (Thailand) Co., Ltd., emphasised the positive factors and challenges facing Nippon Paint’s business this year.

The architectural paint business has been impacted by challenges stemming from the downturn in the real estate industry. Nippon Paint seeks new opportunities to stimulate continuous growth to achieve two main objectives: total sales of 11 billion baht in 2024, the highest in 57 years of Nippon Paint Decorative Coatings (Thailand) Co., Ltd., and becoming the number one leader in the paint and coating industry in Thailand with sales of over 15 billion baht by 2026.

“The sales target for this year is to increase by 20% from the previous year, while the overall market is growing by only 5%. Therefore, relying solely on organic growth is not enough. Instead, we will leverage our internal organisational changes, along with the vision of ‘Inspired by You,’ as the main principle,” said Watchara.

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He added that the following plan is the approach of ‘Think Global Act Local,’ which focuses on three key aspects: Customer Centric, which prioritises all customer segments and proactively seeks to understand customer requirements; Customised Solution, which involves developing products and solutions that meet and solve customer needs; and Concrete Innovation, where quality and standards must be demonstrably tested.

“Every step of our work process will be guided by the vision of ‘Inspired by You,’ whether it’s product development, service, logistics, marketing, branding, or customer communication.” Mr. Watchara stated.

Mr. Watchara added that this year, there will be two major changes for Nippon Paint: the development of products aimed at addressing the specific needs of each customer group, and the expansion of existing customer base to include B2C groups. This is a departure from the previous strategy of focusing mainly on B2B.

The highlight of product development this year lies in the development of speciality paints that streamline the work processes of technicians and construction firms, addressing the issue of labour shortage for project owners by reducing labour costs and dependence on technician skills. This serves to elevate the construction industry in line with Nippon Paint’s mission.

Additionally, there will be developments in decorative paints or Special Effects Coats with reduced prices at the same level of performance and aesthetics, such as texture paints and pattern-making paints, to make them more accessible to project owners. In addition, Product development will also focus on paints tailored specifically for the B2B segment, as well as DIY paints for the B2C group, aiming to simplify processes and alleviate concerns related to technicians.

Furthermore, there will be improvements to Nippon Paint Weatherbond, currently classified as an ultra-premium grade paint utilising technology from Japan to strengthen the paint film, providing the better durability and longevity of over 15 years. There will also be advancements of Nippon Paint AirCare paint, aimed at promoting health.

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Currently, Nippon AirCare Paint is considered ultra-premium grade 15-year paint with a very high standard. Nippon AirCare Paint is the only paint in Thailand to have received the GREENGUARD GOLD Certification, the highest global standard from UL in the United States guaranteeing the harmlessness of toxic VOCs. It is free from volatile organic compounds (Zero VOCs), which are harmful to health.

“Despite being affected by the slowdown in the real estate business, the architectural paint sector represents 50% of the total paint market valued at 60 billion baht. If the planned expansion of the architectural paint into the B2C group is as successful as the tremendous growth in B2B and B2G, reaching the targeted sales of 11 billion baht for this year will be highly feasible, which will also serve as a crucial foundation towards securing the number 1 spot in the paint and coating industry within three years,” he said.

Also, Mr. Narongrit Malainual, Marketing director of Nippon Paint Decorative Coatings (Thailand) Co., Ltd. further elaborated on the ‘Inspired by You’ advertising film series, which will serve as a crucial tool for expanding into the B2C customer group.

He mentioned that this advertising film series comes with a new Brand Tagline, “Inspired by you” supported by the highest budget allocation in the past 10-15 years. This advertising film series is aimed at communicating to the main audience in the Gen X and Y as well as Gen Z that Nippon Paint understands the diverse needs in colour usage, believes that the diversity of individuals, when combined, fosters creativity and enrichment.

Similar to how the combination of various colours generates positive energy, benefitting mental well-being, reflecting individuality and personality traits, Nippon Paint is ready to comprehensively deliver all the colours required for a creative world.