PHUONG NAM PANEL

What PHUONG NAM PANEL does

Phuong Nam Panel (Công Ty TNHH Cách Âm Cách Nhiệt Phương Nam) is a privately held Vietnamese manufacturer of insulated sandwich panels founded in 1994 and headquartered in Ho Chi Minh City. The company produces wall, roof, and ceiling panels across five core chemistries — PIR (PROCY, PROCY ULTRA, PRICH), PUR, Rock Wool (PROCK, T*ROCK), EPS (PREXS), and Glass Wool (PRASS) — plus complementary single-faced PU roof panels (ROPUN) and ProCool air-bubble and OPP foam insulation sheets. Production runs on 10 continuous European lines (Hennecke OMS) supplied with Bluescope (Australia) 4-layer coated steel and BASF/Huntsman core chemicals, with stated capacity of up to 10 million m²/year and average annual output of approximately 3 million m². The company operates three factories (two in Cu Chi Industrial Park, HCMC, and one in Hung Yen Province) plus dedicated sales offices for Southern and Northern Vietnam.

The company sells primarily on a project-based, quote-driven basis directly to industrial and commercial construction customers, including general contractors, project developers, and investors. Named end-customers span electronics manufacturing (LG Display Hai Phong, Luxshare ICT Nghệ An, Tonly Electronics/TCL, MCC), semiconductor (Amkor Technology Vietnam, completed 2023), pharmaceutical (ASTA Phu Yen, Novopharm), cold storage (NECS), seafood processing (Minh Phu Khanh An), high-tech livestock (Xuan Thien Thanh Hoa 3), food processing (Bestway Vietnam, DSVK), footwear (Cypress Shoes), and automotive (Autoliv Vietnam). Pricing is not publicly disclosed and is determined per project based on panel type, thickness (50-200mm), length (up to 16m), steel specification, and order quantity. GTM is enterprise field sales with direct factory-to-site delivery across Vietnam, supported by YouTube/Facebook/Zalo/LinkedIn digital presence and industry event sponsorships (HVACR Master Cup 2026, HCMC Architects Association Congress 2026).

The business model is fundamentally a project-lumpy hardware-sales model with no recurring SaaS-style revenue component. The product portfolio is diversified across price points (cost-effective EPS through premium Glass Wool), and customer concentration is spread across at least nine verticals, mitigating single-industry exposure but exposing the business to construction-cycle and FDI-investment timing. Key competitive moats include scale (largest stated capacity in Vietnam at 10 million m²/year), 31 years of brand presence, top-tier international raw-material partnerships (Bluescope, BASF, Huntsman, Hennecke), and national manufacturing-and-distribution footprint across Southern and Northern Vietnam. The company holds the Top 100 Tin va Dung Viet Nam recognition from VTV1 (2021) and reports approximately 500 projects served annually.

Name

PHUONG NAM PANEL

Legal name

CÔNG TY TNHH CÁCH ÂM CÁCH NHIỆT PHƯƠNG NAM

Website

https://phuongnampanel.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Phuong Nam Panel is a privately held Vietnamese manufacturer of PIR, PUR, Rock Wool, EPS, and Glass Wool sandwich panels for industrial, commercial, and cold-storage construction, serving electronics, semiconductor, pharmaceutical, and food-processing customers nationwide through three factories and dedicated regional sales offices.

Ownership category

akta.pro rank

Product category

Insulated Sandwich Panels

NAICS

Polystyrene Foam Product Manufacturing (32614)

SIC

Plastics Foam Products (3086)

akta.pro primary industry

Structural Insulated Panels (SIP) & Foam-Core Composite Panel Manufacturing (IMANAIAK)

akta.pro secondary industry

Sandwich Panels & Core Materials (Foam, Balsa, Honeycomb) (IMAJAKAD)

Keywords

• Sandwich panel manufacturing
• Thermal insulation products
• Construction wall panels
• Roof insulation panels
• Industrial building materials

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Sandwich Panel Sales: Manufacturing and sales of sandwich panels (PIR, PUR, Rock Wool, EPS) for wall, roof, and ceiling applications. Revenue generated from direct sales to industrial, commercial, and agricultural construction projects.
2. Thermal Insulation Products: Sales of thermal insulation sheets including ProCool air bubble insulation, OPP foam insulation sheets, and related accessories for construction applications.
3. Custom Fabrication Services: Custom sizing and fabrication of panels to meet specific project requirements, including various thicknesses (50mm, 75mm, 100mm, 125mm, 150mm) and lengths up to 16m.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Phuong Nam Panel manufactures and sells sandwich panels (PIR, PUR, Rock Wool, EPS, Glass Wool) for wall, roof, and ceiling applications, as well as thermal insulation sheets including ProCool air bubble insulation and OPP foam sheets. The products serve industrial factories, cold storage facilities, clean rooms, livestock farms, and commercial buildings across Vietnam, with continuous European production lines and capacity up to 10 million m²/year.

Product overview

PHUONG NAM PANEL is Vietnam's leading manufacturer of sandwich panels and thermal insulation products. The product portfolio includes seven distinct sandwich panel lines: PROCY and PROCY ULTRA (premium PIR panels), T*ROCK and PROCK (rock wool panels), PRICH (PIR B2 grade), PREXS (EPS core), and PRASS (glass wool), plus ROPUN single-faced PU roof panels. These are complemented by the ProCool air bubble insulation family (Super, A2 Double, A2, Eco) and OPP foam sheets. The panels serve as wall, ceiling, and roof solutions for industrial factories, cold storage, clean rooms, livestock farms, and commercial buildings across Vietnam, with over 3 million m2 annual production capacity and 37,000 m2 daily output.

Differentiator

Problem solved

Functional benefit

Brands

• PROCY: Premium PIR sandwich panel product line with fire resistance, thermal insulation, and sound insulation properties. Features Bluescope steel with 4-layer coating and Huntsman PIR core.
• PROCY ULTRA
• PROCK
• T*ROCK
• PRICH
• PREXS
• PRASS
• ROPUN
• ProCool

Products and services

• PROCY (PIR) Sandwich Panel

Quantifiable outcome

• Daily production capacity of 37,000 m2
• +6 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Bluescope (Australia)coreTechnology or IntegrationStrategic partnership with Bluescope for supply of 4-layer coated ultra-durable steel sheets using Activate technology. Bluescope steel is used across all PROCY, PROCK, PRICH, and PREXS panel product lines as the outer shell material.
• BASFcoreTechnology or IntegrationSupply partnership for PIR/PUR core materials. BASF supplies chemicals used in the manufacture of core insulation materials for PROCY and PRICH panel product lines.
• Huntsman (USA)coreTechnology or IntegrationSupply partnership for PIR core materials. Huntsman supplies ISO Suraseec 5008 and other PIR precursor chemicals for high-performance insulation cores meeting DIN4102-1 and ASTME84 fire standards.
• Hennecke OMScoreTechnology or IntegrationTechnology partnership for continuous panel production lines. Hennecke OMS provides continuous foam injection technology for panel manufacturing.
• NS BluescopecoreTechnology or IntegrationSame as Bluescope (Australia) - primary steel sheet supplier for panel manufacturing.
• Masan ConsumerminorOthersCustomer for sandwich panel projects in food processing and manufacturing facilities.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Isopan: Italian manufacturer of insulated metal panels for walls and roofs with PIR and rock-wool cores. Operates multiple production lines across Europe and the Middle East, directly competing in the same product categories (PIR, mineral wool sandwich panels) as Phuong Nam.
• Trimo: Slovenian producer of sandwich panels and modular building envelope solutions with mineral-wool and PIR cores. Comparable technology platform and end-market focus (industrial facilities, cold storage, commercial buildings) to Phuong Nam.
• Assan Panel (Kibar Holding): Turkish manufacturer of PIR, PUR, rock-wool, and EPS sandwich panels serving industrial buildings, cold storage, and agricultural facilities. Closely comparable in product portfolio, continuous-line production technology, and target end markets to Phuong Nam.
• Balex Metal: Polish manufacturer of sandwich panels with PIR, PUR, rock-wool, and EPS cores for roofing, walls, and cold storage. Operates continuous European production lines and serves industrial and agricultural construction, mirroring Phuong Nam's product and customer mix.
• Metecno: International manufacturer of sandwich panels (PIR, PUR, rock wool, EPS) for industrial, commercial, and cold-chain buildings. Highly comparable product portfolio and end-market focus to Phuong Nam, with manufacturing presence across Asia and Latin America.

Regional players

• ATAD Steel Structure Corporation: Vietnamese steel structure and building-envelope company listed as a Phuong Nam partner. Operates in adjacent categories (steel buildings, cladding) for the same industrial and commercial construction market, making it a relevant regional peer and ecosystem participant.
• Tonmat Panel: Vietnamese competitor in sandwich panel manufacturing with PIR, rock-wool, and EPS offerings. Competes with Phuong Nam for the same domestic industrial, cold-storage, and agricultural projects.

Broad incumbents

• ArcelorMittal Construction: Construction-products division of ArcelorMittal producing sandwich panels, profiled steel sheets, and purlins. A broad incumbent in building envelope systems with PIR and rock-wool panels that overlap with Phuong Nam's product range.
• Ruukki (SSAB): Nordic steel and building products business (part of SSAB) offering sandwich panels and insulated roofing systems. Comparable in wall/roof panel category, with broader steel-mill vertical integration that Phuong Nam lacks.
• Kingspan Group: Ireland-headquartered global leader in insulated panels and building envelope systems. Operates worldwide with similar PIR, PUR, and rock-wool sandwich panel technology and serves the same industrial, cold-storage, and clean-room end markets as Phuong Nam, but at vastly larger scale and with global reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookm.me/SandwichpanelPhuongNam
• LinkedInlinkedin.com/company/phuong-nam-panel

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

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 PHUONG NAM PANEL