Thailand Seals Enviable Role as Leading Industrial Hub in Southeast Asia

In Southeast Asia, Thailand occupies a strategic position being a dynamic industrial center whose domestic production has been supplying both local and international markets. As the region`s major industrial hub, Thailand boasts of a strong plastics market whose growth momentum has been sustained by the demands of various industries dependent on plastics such as automotive, packaging and medical products. Thus, the Thai plastics market is projected to grow by 4% annually from 2023-2028, as the production of plastics has been recovering due to the resumption of industrial activities, according to a report by Mordor Intelligence. While currently, the government has imposed strict regulations leading to a plastic ban, increased production of environmentally-friendly plastic products is expected to create opportunities in the medium to long term.