Thailand: Thai Gypsum Products Plc (TGP), a subsidiary of France's Saint-Gobain, expects sales of its Gyproc construction and finishing materials will expand by 5% in 2014, citing continuous growth in home renovations and building markets.
Thongchai Kamolpattana, the commercial director for the Gyproc brand, said that demand from housing projects and home renovations had increased since 2013 and would allow TGP to earn higher revenue in 2014. Kamolpattana added that provincial markets would keep Gyproc sales afloat even if political problems persist in Bangkok.
Earlier in 2014 TGP experienced a minor negative effect from the prolonged political impasse that caused consumers to delay decisions to buy condominium units in Bangkok. "Demand for condominiums declined because customers in Bangkok took a wait-and-see stance," said Kamolpattana. "However, our market still did well in other provinces." He added that if political problems continue until year-end, TGP's performance in Bangkok might be affected. "If so, consumer confidence would be badly affected and that might reduce demand for our products. However, business confidence has rebounded since the coup."
Gyproc has expanded into modern-trade malls, particularly in Chiang Mai and Chon Buri provinces, helping the brand to boost sales by 5%. The products are available in 400 malls, resulting in greater brand awareness and accessibility to its products among contractors and homeowners nationwide.
The company plans to open more Gyproc solution centres in 2014, including in Phuket, in order to prepare for rising opportunities under the Asean Economic Community, which is due to kick off late in 2015. According to Kamolpattana, gypsum boards have gained strong market recognition in 20 Asia-Pacific markets, particularly the Philippines, Malaysia, Indonesia and Australia.
