Thantawan Industry Public Company Limited

What Thantawan Industry Public Company Limited does

Thantawan Industry Public Company Limited (THIP, bkk:THIP) is a Thailand-headquartered, Stock Exchange of Thailand-listed manufacturer and distributor of plastic packaging products, founded in 1977 and operating for over 48 years. The company runs three business segments: an OEM/ODM export business producing zipper bags, slider bags, zip profiles, drinking straws, general bags, cling wrap, and body puffs for global retail and FMCG customers (approximately 85% of revenue, sold under customer brands); a B2C household products business distributed domestically and online under the SUN family of sub-brands (SUNZIP, SUNMUM, Kitchen Neat, Fresh&Fresh, SUNBIN, SUNBIO, SUNECOSTRAW, SUNGLOVE); and an eco-friendly products business offering compostable and biodegradable packaging certified to more than 7 leading global standards, including preparation for EU CBAM Phase 2 compliance.

The company operates 35,000 tons of annual production capacity out of a Nakhon Pathom headquarters and a new Tay Ninh, Vietnam facility that began production in July 2025, serving 28 global business partners with 85% of revenue from international markets including the USA and EU. Technical differentiation rests on three proprietary service modules — Innovative Design Solution (IDS), Innovative Zip Design Development (IZD) including Leakproof and Airtight Zip, and Innovative Research and Development (IRD) — plus licensed Japanese Silver Ion Technology used in the SUNZIP Antivirus line and in-house RPA and process-mining automation. The business model is a hybrid: B2B contract manufacturing (one-time, volume-based OEM/ODM sales through a dedicated export sales function) for the core OEM/Export stream, and branded retail distribution (unit-priced consumer SKUs, e.g., SUNZIP Antivirus at 55–69 Baht per bag) through modern trade, traditional trade, convenience stores, and the sunmumshopping.com e-commerce site for the household stream.

Financially, H1 2024 revenue reached 2,519 million THB (+34% year-on-year) with 148 million THB net profit, against 2020 full-year revenue of 3,197 million THB; the company is led by Chairman Tevin Vongvanich and CEO Surasak Luangaramsri (both appointed April 2026), who have articulated a '3 Power' strategy to position THIP as a global packaging player. The company has been listed on the Thaipat Institute ESG100 for 8 consecutive years and received a Green Industry Level 4 award from Thailand's Ministry of Industry.

Name

Thantawan Industry Public Company Limited

Legal name

Thantawan Industry Public Company Limited

Website

https://thantawan.com

Company type

Public

Founded year

1977

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Thantawan Industry (THIP) is a Thailand-listed plastic packaging manufacturer and OEM/ODM supplier serving 28 global retail and FMCG brands, with 35,000 tons of annual capacity across Thailand and Vietnam, a SUN family of household consumer brands, and a certified eco-friendly product line.

Ownership category

akta.pro rank

Product category

Plastic Packaging Manufacturing

NAICS

Plastics Bag and Pouch Manufacturing (326111), Other Plastics Product Manufacturing (32619), Packaging and Labeling Services (56191)

SIC

Miscellaneous Plastics Products (3080)

akta.pro primary industry

Flexible Plastic Packaging (Bags, Pouches, Sachets) Manufacturing (IMANAEAC)

akta.pro secondary industries

Foodservice & Single-Use Plastic Packaging (Cups, Lids, Cutlery) Manufacturing (IMANAEAI), Food Storage Containers (Disposable & Reusable) (CRAJAGAF), Ready Meals & Prepared Foods Packaging (IMALAHAL)

Keywords

• Plastic packaging manufacturing
• OEM ODM services
• Zipper bag production
• Compostable packaging solutions
• Household plastic products

Headquarters

HQ city

Nakhon Pathom

HQ country

Thailand

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. OEM and Export: Original Design Manufacturing (ODM) and Original Equipment Manufacturing (OEM) for world's leading retail and FMCG brands. This is the primary revenue driver, accounting for approximately 85% of total revenue.
2. Household Products Business (Own Brands): Distribution of proprietary branded consumer products under the SUN brand family including SUNMUM, SUNZIP, Kitchen Neat, Fresh&Fresh, SUNBIN, SUNBIO, and SUNECOSTRAW through retail channels and e-commerce.
3. Eco Friendly Products Business: Production and sale of compostable and biodegradable packaging products certified by more than 7 leading global standards, targeting sustainability-conscious buyers.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Thantawan Industry manufactures and distributes plastic packaging products — including zipper bags, slider bags, zip profiles, drinking straws, general bags, cling wrap, and body puffs — for global retail and FMCG brands under OEM/ODM arrangements, alongside its own SUN-branded household consumer products and certified compostable eco-friendly packaging. The company operates 35,000 tons of annual production capacity across Thailand and Vietnam facilities.

Product overview

Thantawan Industry Public Company Limited is an innovative packaging solution provider with over 48 years of experience. The company operates as a manufacturer and distributor of globally recognized packaging solutions with three main business segments: (1) OEM and Export Business providing ODM/OEM manufacturing for world-class brands, supported by Innovative Design Solution (IDS), Innovative Zip Design Development (IZD), and Innovative Research and Development (IRD) service modules; (2) Household Products Business featuring own-brand consumer products under the SUN family including SUNZIP (multipurpose zipper bags), SUNMUM (mother and child care), Kitchen Neat, Fresh&Fresh, SUNBIN, SUNBIO (biodegradable), SUNECOSTRAW, and SUNGLOVE; and (3) Eco Friendly Products Business offering sustainable packaging certified to global standards. The company also developed the SUNFAMILY digital application for breast milk management.

Differentiator

Problem solved

Functional benefit

Brands

• SUNMUM: Mother and child care products
• SUNZIP
• Kitchen Neat
• Fresh&Fresh
• SUNBIN
• SUNBIO
• SUNECOSTRAW
• SUNFAMILY

Products and services

• OEM and Export Business Original Design Manufacturing (ODM) and Original Equipment Manufacturing (OEM) of plastic packaging products for world's leading retail and FMCG brands, including zipper bags, slider bags, zip profiles, drinking straws, general bags, cling wrap, and body puffs; accounts for approximately 85% of company revenue and is delivered through dedicated export sales.
• SUNZIP Antivirus Multipurpose Zipper Bag Antiviral multipurpose zipper bag featuring 2-layer zip lock, reusable design, and Silver Ion Technology from Japan that inhibits 99%+ viruses including Influenza A (H1N1) and Influenza B within 24 hours, tested to world standard by RT-PCR method; available in Size S (55 Baht), Size M (59 Baht), and Size L (69 Baht).
• SUNMUM Breast Milk Storage Bags Mother and child care product line under the SUNMUM brand providing breast milk storage bags and related baby care items for mothers, distributed through supermarkets, convenience stores, and the company's e-commerce platform sunmumshopping.com.
• SUNBIN Trash and Waste Bags Trash bags and general waste management products under the SUNBIN brand, designed for household and various application uses.
• SUNBIO Biodegradable Products Biodegradable and compostable products under the SUNBIO brand, made from sustainable natural materials for eco-friendly packaging solutions.
• SUNECOSTRAW Eco-Friendly Drinking Straws Eco-friendly drinking straws under the SUNECOSTRAW brand serving as a sustainable alternative to conventional plastic straws.
• Kitchen Neat Storage Products Kitchen organization and storage products under the Kitchen Neat brand for household food storage and kitchen management.
• Fresh&Fresh Shelf-Life Extending Bags Shelf-life extending storage bags for fruits and vegetables under the Fresh&Fresh brand, designed to preserve freshness longer for household food storage.
• SUNGLOVE Multipurpose Gloves Multipurpose household gloves under the SUNGLOVE brand providing hand protection during various household tasks.
• Eco Friendly Products Business Sustainable packaging products certified by 7+ leading global standards, featuring compostable products made from sustainable natural materials that cause no environmental harm during production, use, or disposal, including eco-friendly drinking straws and biodegradable bags for sustainability-focused B2B buyers and eco-conscious consumers.
• SUNFAMILY Mobile Application Smart mobile application providing mothers with breast milk management features including quick scan, easy storage, and easy pick functionality to manage breast milk inventory and usage.

Quantifiable outcome

• 85% of revenue from international markets, demonstrating strong global demand and production reliability.
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Thai Plastic Industry Association (สมาคมอุตสาหกรรมพลาสติกไทย)minorStrategic or Co-development PartnerTHIP partnered with the Thai Plastic Industry Association to donate SUNZIP, SUNGLOVE, and SUNBIN products to Kantharalak Hospital in Sisaket Province. The hospital serves as a regional medical hub in the Thailand-Cambodia border area, managing patient transfers and medical supply distribution to neighboring district hospitals.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Regional players

• Polyplex Corporation: Asia-based manufacturer of plastic films (PET, BOPP) used in flexible packaging applications. Comparable as an Asian flexible-film converter serving global packaging customers, though more upstream-focused than THIP.
• S.Khonkaen Foods Public Company (Packaging Division): Thai-based food manufacturer with vertically integrated plastic packaging operations for its consumer products. Comparable as a Thai-based regional packaging producer, although smaller-scale and primarily captive rather than OEM/ODM-focused.

Direct peers

• Coveris Holdings: European-based flexible packaging manufacturer producing bags, films, and pouches for food and consumer goods brands. Comparable product format and customer segment to THIP's OEM/ODM zipper and slider bag business.
• Winpak Ltd. Manufacturer of high-quality packaging materials including flexible and rigid plastic packaging for food, beverage, and healthcare applications. Closely comparable technology and customer base in protective and food-contact packaging.
• Inteplast Group: Integrated manufacturer of plastic films, bags, and engineered plastic products serving consumer and industrial markets. Comparable in scale of plastic film and bag manufacturing and in customer overlap with FMCG converters.
• Sealed Air Corporation: Global packaging manufacturer producing flexible and protective packaging, including food-contact bags and films for retail and FMCG customers. Directly comparable OEM/ODM-style business model and customer base to THIP's core export segment.

Broad incumbents

• Amcor plc: Global packaging giant producing flexible and rigid plastic packaging for food, beverage, healthcare, and personal care customers. Closely comparable in flexible plastic film and bag manufacturing and in serving multinational FMCG OEMs.
• Berry Global Group: One of the world's largest plastic packaging manufacturers serving consumer goods, food and beverage, and healthcare end markets. Broader portfolio than THIP but overlaps significantly in flexible plastic bags, films, and converters for global FMCG brands.
• Novolex Holdings: Major North American flexible and rigid plastic packaging producer with broad product portfolio. Comparable as a large-scale converter serving consumer brands with plastic bag, film, and specialty packaging formats.
• Toyobo Co., Ltd. Japanese diversified manufacturer with packaging film and industrial materials businesses. Comparable in specialty plastic film technology and in serving multinational FMCG and industrial customers across Asia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ThantawanOfficial
• Instagraminstagram.com/thantawan_official

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thantawan Industry Public Company Limited