What Thai Poly Acrylic does

Thai Poly Acrylic Public Company Limited (SET: TPA) is a Thailand-based manufacturer of cast (cell cast) acrylic sheets and extruded plastic sheets, founded in 1985 and listed on the Stock Exchange of Thailand since 1994. The company operates two parallel production systems at its Sam Phran, Nakhon Pathom facility: three cast acrylic production lines with combined capacity of 10,000 tons per year, and five extrusion lines producing ABS, HIPS, PP, PE, and co-extrusion sheets with another 10,000 tons per year of capacity. Cast acrylic output is sold primarily under the MODEN GLAS brand for general purpose, LED Block, Magic Colors, Light Guide Panel, Diffusion, and roofing (Heat Block / UV Block / Heat & UV Block) applications, while sanitary ware sheets are produced under license as Lucite TS in partnership with Lucite International. Extruded plastic output is sold under the Moden Plas, SuperGlas, and Complas brands to downstream manufacturers.

The company sells into eleven end-use segments — Architecture & Construction, Automotive & Transportation, Signage & Advertisement, Home Appliances & Fridge, Packaging, Sanitary Ware, Lighting, Hygiene & Safety, Trophies and Premiums, Interior Design & Decoration, and Retail Display & POP — via dedicated domestic and export sales teams, a multi-city authorized distributor network across Thailand, and named enterprise customers including automotive manufacturers, Airports of Thailand, and Chulalongkorn Hospital. Technical differentiators include 100% virgin MMA usage in cast acrylic production, computer-controlled in-house color matching, automated optical inspection, and on-site QUV weatherability and VICAT polymerization testing. Reported financials (denominated in Thai Baht) show FY2025 revenue of approximately THB 20.08 billion against an enterprise value of THB 6.77 billion, with negative operating income and net income in three of the past four fiscal years, and a June 2025 announcement of extrusion capacity reduction and organizational restructuring. Mitsubishi Chemical Group affiliation is evidenced through the use of @mcgc.com contact domains and website footer attribution, indicating a strategic investor/partner relationship.

Name

Thai Poly Acrylic

Legal name

Thai Poly Acrylic Public Company Limited (บริษัท ไทยโพลีอะคริลิค จำกัด (มหาชน))

Website

https://thaipolyacrylic.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

101–250 employees

Short description

Thai Poly Acrylic (SET: TPA) is a Thailand-based manufacturer of cast acrylic sheets (MODEN GLAS, Lucite TS) and extruded plastic sheets (ABS, HIPS, PP, PE), serving construction, automotive, appliance, signage, sanitary ware, and packaging end-markets with 20,000 tons/year of combined capacity.

Ownership category

akta.pro rank

Product category

Plastic Sheet Manufacturing

NAICS

Plastics Packaging Film and Sheet (including Laminated) Manufacturing (326112), Plastics Packaging Materials and Unlaminated Film and Sheet Manufacturing (32611), Plastics Product Manufacturing (3261)

SIC

Unsupported Plastics Film & Sheet (3081), Plastics Products, Nec (3089)

akta.pro primary industry

Plastic Films & Laminated Packaging Structures Manufacturing (IMANAEAD)

Keywords

• Cast acrylic sheets
• Extruded plastic sheets
• Acrylic roofing
• Sanitary ware sheets
• Cell cast manufacturing

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Cast Acrylic Sheet Sales: Manufacture and sale of cast acrylic sheets (MODEN GLAS brand), including General Purpose grade, Sanitary grade for bathtubs/spa/shower units, and specialty grades such as LED LGP, Diffusion Panel, and Magic Colors. Sold domestically and exported through direct sales team and distributors.
2. Extruded Plastic Sheet Sales: Manufacture and sale of extruded plastic sheets including ABS (including Flame Retardant grade), HIPS (flat sheets and rolls in standard, Anti-static and Conductive grades), PP (flat sheets, rolls, and PP Profile/Core Flute), PE (black sheets for automotive applications), and Co-extrusion sheets (Complas brand).
3. Lucite Sanitary Ware Sheet Sales: Production and distribution of Lucite TS acrylic sheets for sanitary ware applications (bathtubs, spas, shower units, washbasins, bathroom accessories) under license/partnership with Lucite International.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Thai Poly Acrylic (TPA) manufactures cast (cell cast) acrylic sheets under the MODEN GLAS brand and Lucite-branded sanitary ware sheets, alongside extruded plastic sheets (ABS, HIPS, PP, PE, and Co-extrusion/Complas). The company operates 3 cast acrylic production lines (10,000 tons/year) and 5 extrusion machines (10,000 tons/year) at its Sam Phran, Nakhon Pathom facility, supplying construction, automotive, signage, lighting, sanitary ware, appliance, and packaging customers domestically and internationally.

Product overview

Thai Poly Acrylic Public Company Limited (TPA) is a leading manufacturer of cast acrylic sheets and extruded plastic products in Thailand. The product portfolio consists of two main categories: Cast Acrylic Sheets (under the Moden Glas and Lucite brands) including General Purpose, LED Block, Magic Colors, Light Guide Panel (LGP), Diffusion, and Sanitary Ware products; and Acrylic Roof Sheets under the Moden Glas brand with Heat Block, UV Block, and combined Heat & UV Block Series. Additionally, TPA produces extruded plastic sheets including ABS, HIPS, PP, PE, and Co-extrusion (Complas) products. The company operates 3 cast acrylic production lines with 10,000 tonnes/year capacity and 5 extrusion lines with 10,000 tonnes/year capacity, serving industries including construction, automotive, lighting, signage, sanitary ware, packaging, and retail display.

Differentiator

Problem solved

Functional benefit

Brands

• MODEN GLAS: Cast acrylic sheet brand for architectural and construction applications including roofing, signage, and lighting
• Lucite
• Moden Plas
• SuperGlas
• Complas

Products and services

• Cast Acrylic Sheet - General Purpose Standard cast (cell cast) acrylic sheets in clear, opal, and color variants, offering up to 92% light transmission, UV resistance, and 10-20x higher impact resistance than glass. Sold to construction, signage, lighting, and general industrial fabricators.
• Cast Acrylic Sheet - LED Block 30mm thick cast acrylic blocks designed for 3D illuminated lettering and LED signage, allowing front and side illumination while concealing LED light sources. Targeted at sign makers and illuminated display manufacturers.
• Cast Acrylic Sheet - Magic Colors Dual-color acrylic sheets that shift appearance when illumination is turned on or off (e.g., black to white, red, blue, green, or purple depending on variant). For signage, decorative panels, and architectural interiors.
• Cast Acrylic Sheet - Light Guide Panel (LGP) Edge-lit acrylic panels that distribute light evenly across the surface, enabling ultra-thin illuminated signs and displays. For lighting fixture and signage manufacturers.
• Cast Acrylic Sheet - Diffusion Light diffusion acrylic sheets that evenly distribute light from LED or fluorescent sources while concealing the light fixtures behind them. Used by lighting fixture and signage makers.
• Lucite TS Sanitary Ware Acrylic Sheets Cast acrylic sheets specifically engineered for bathtub, shower, washbasin, and bathroom wall applications, offering chemical resistance and formability. Produced under license from Lucite International for sanitary ware manufacturers.
• Moden Glas Heat Block Series Acrylic Roofing Acrylic roof sheets with infrared (IR) blocking technology that reduces solar heat gain by up to 80%, available in Midnight Blue, Seagrass, Smoky Brown, and Deep Ocean. For architectural and construction roofing applications.
• Moden Glas UV Block Series Acrylic Roofing Acrylic roof sheets with 99% UV blocking protection, available in Blue Sky (75% light transmission), Spring Green (80%), Hazel Wood (55%), and Grey Sky (40%). For architectural roofing where UV filtering is required.
• Moden Glas Heat & UV Block Series Acrylic Roofing Premium acrylic roof sheets combining heat (IR) blocking and UV blocking technologies for maximum thermal comfort, with light transmission ranging from 10% to 30%. For high-end architectural and construction applications.
• ABS Plastic Sheets Acrylonitrile Butadiene Styrene (ABS) sheets for automotive components and electrical appliances, available in standard and Flame Retardant grades. Sold under Moden Plas brand to automotive and appliance manufacturers.
• HIPS Plastic Sheets High Impact Polystyrene (HIPS) sheets for packaging, refrigeration, and electrical industries, supplied in flat sheets, rolls, and anti-static/conductive grades. Targeted at appliance, packaging, and electronics manufacturers.
• PP Sheets and PP Profile/Core Flute

Quantifiable outcome

• Light transmission over 92% — clearer than glass
• +6 more outcomes

Named customers10 records

Segments11 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Ratchaburi Central PrisonminorStrategic or Co-development Partner · 1 January 2025Thai Poly Acrylic signed a Memorandum of Understanding (MOU) with Ratchaburi Central Prison to promote vocational training for inmates. The company provides training equipment, instructors, and necessary resources to help prepare inmates for reintegration into society upon release. This initiative aligns with the Social aspect of ESG principles. The MOU was co-signed by Mr. Akhom Phusri, Director of Ratchaburi Central Prison.
• Lucite InternationalcoreStrategic or Co-development PartnerLucite International, the world's largest acrylic manufacturer and owner of Perspex and Lucite brands, supports Thai Poly Acrylic as a strategic partner. TPA produces Lucite TS sanitary ware acrylic sheets for bath, shower, and vanity applications. Lucite's global brand support has been instrumental in TPA's recognition as a quality acrylic manufacturer in the ASEAN region. The partnership provides TPA with brand licensing for Lucite sanitary ware products and technical support for premium acrylic manufacturing.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Plaskolite: North America's largest manufacturer of cast acrylic sheet and other polymer sheet products. Direct competitor with overlapping product portfolio in cast acrylic sheets, optical-grade PMMA, and specialty sheet for signage, architectural, and sanitary applications.
• Palram Industries: Israel-based manufacturer of thermoplastic sheets including polycarbonate, acrylic, and SAN products for construction, DIY, signage, and industrial markets. Comparable in flat-sheet/panel product family and architectural/signage end-uses.
• Altuglas (Arkema): Global PMMA cast and extruded acrylic sheet business of Arkema, producing the Altuglas and Plexiglas brands. Closest global peer in cast acrylic technology, applications, and end-market mix.
• Aristech Surfaces: US-based producer of cast acrylic sheets and solid surface materials (owned by Trinseo). Directly comparable in cast acrylic manufacturing for architectural, sanitary ware, and signage end-uses, with similar Lucite/PMMA heritage.
• Quinn Plastics: European cast acrylic sheet manufacturer serving signage, architectural, and industrial applications. Comparable in scale, product mix, and target end-uses to Thai Poly Acrylic's MODEN GLAS cast acrylic line.

Broad incumbents

• Asahi Kasei: Japanese diversified chemical manufacturer producing acrylic resins and engineering plastics. Competes in upstream PMMA and adjacent specialty plastic sheet markets across Asia.
• Mitsubishi Chemical Group: Major Japanese chemical conglomerate and PMMA/acrylic producer (parent of Lucite International). Strategic partner to TPA, competing broadly in MMA, acrylic resin, and acrylic sheet markets across Asia.
• Trinseo: Global materials manufacturer and producer of PMMA resins and acrylic sheets (parent of Aristech Surfaces). Overlapping upstream resin and downstream sheet capabilities, serving adjacent end-markets.
• Lucite International: World's largest acrylic manufacturer (Mitsubishi Chemical subsidiary) and owner of the Perspex and Lucite brands. Provides strategic brand licensing and technical support to TPA; a broader global producer of acrylic products.
• Sabic: Global petrochemicals giant producing Lexan polycarbonate and PMMA acrylic products. Broad incumbent in plastic sheet and resin markets with overlapping applications in construction, automotive, and signage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tpa1985
• LinkedInlinkedin.com/company/thai-poly-acrylic-plc

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Thai Poly Acrylic