THAILANDSICThailand Standard Industrial Classification

TSIC Activity

23999

Manufacture of other non-metallic mineral products, not elsewhere classified

ประกอบกิจการ ผลิตชิ้นส่วนวัสดุโลหะ ผลิตแผ่นบุฉนวนใยหิน ผลิตแผ่นโพลียูรีเทน ผลิตวัสดุฉนวนกันความร้อน

Definition

Manufacture of removable friction materials having a mineral or cellulose basis; manufacture of articles of mineral substances, such as finished mica and materials thereof, from peat and from graphite (other than electrical articles), etc.; manufacture of articles of asphalt or similar materials, such as asphalt-based adhesives, asphalt emulsions, etc.; products of carbon fibres and graphite (except electrical and electrical cables).

Foreign ownership

Not on the Foreign Business Act restricted lists.

The Foreign Business Act B.E. 2542 (1999) restricts majority foreign ownership only for the activities named in its three annexed Lists. This activity is not among the mappings we hold, so a foreign investor can generally hold up to 100% of the equity, subject to any sector-specific licence and to minimum-capital rules (typically THB 2 million per restricted business, or THB 3 million where a Foreign Business Licence applies).

If an activity is restricted, the routes to foreign majority

  • BOI promotion — the Board of Investment can grant up to 100% foreign ownership for promoted activities, with tax and non-tax incentives.
  • Foreign Business Licence — permission from the Ministry of Commerce to operate a List 2 or List 3 activity as a foreign-majority company.
  • US Treaty of Amity — US nationals may hold majority ownership in most activities, treated as Thai nationals for FBA purposes.

This is general guidance, not legal advice, and mappings are auto-derived. The schedules of the Foreign Business Act B.E. 2542 are the authority; verify against the Act, or ask us to check your specific activity. See the full foreign ownership reference.

See the full foreign ownership reference for all three FBA lists.

Companies registered since 2022

Browse all

New DBD registrations under this activity since 2022, the period the registry snapshot covers, not the full historical register.

14
Registered
since 2022
12
Still active
2
Dissolved
฿3.0M
Median capital
of active

New registrations per year

2022peak 6 in 20232026

Largest active companies by registered capital

Source: Department of Business Development (DBD) new-registration records, 2022 to present. Counts cover companies first registered in that window, reflect the latest snapshot load, and may lag the live register.

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