THAILANDSICThailand Standard Industrial Classification

TSIC Activity

46633

Wholesale of paints, varnishes and lacquers

ประกอบกิจการ จำหน่าย และ นำเข้า ส่งออก สี ประเภทต่างๆวัสดุเหลือใช้ และเคมีภัณฑ์ ทุกชนิด

What this activity covers

This activity involves the wholesale distribution of various types of paints, varnishes, and related materials.

  • Wholesale of paints — Includes oil, plastic, and water-based paints
  • Wholesale of varnishes — Includes various types of varnishes and lacquers
  • Wholesale of sealants — Includes sealants and similar materials
  • Wholesale of wood oils — Includes oils used for wood treatment
  • Wholesale of solvents — Includes solvents and thinners for paint
  • Wholesale of grouting compounds — Includes materials for filling grooves

What companies here also do

Seen in real company registrations under this code — beyond the official definition, so licensing may differ.

  • Manufacture of paints — Includes production of various paint types
  • Import of chemicals — Includes importing paint-related chemicals
  • Retail of paints — Includes selling paints directly to consumers

Foreign ownership

List 3: Restricted, FBL/BOI route availableinherited from 46

Wholesale of goods of all kinds, where the minimum capital per store is below the level prescribed in the Act

Not a hard restriction — only applies while under-capitalised. A foreign-majority wholesaler is exempt from this List 3 item (no Foreign Business Licence needed) once minimum registered capital reaches the Act's threshold, typically THB 100 million per store. Verify current ministerial-regulation figures.

FBA B.E. 2542, List 3 (15)Routes: Foreign Business Licence, BOI promotion, US Treaty of Amity

Auto-mapped, verify against the Act. These TSIC mappings are indicative, not legal advice; the schedules of the Foreign Business Act B.E. 2542 are the authority. See the full foreign ownership reference.

Industry at a glance

as of 23 ก.ค. 69

The whole registered industry under this activity, every registration year, from the DBD DataWarehouse.

254
active companies operate here
฿1.8Bregistered capital, combined
฿12.9B
Sector revenue · 2025
-3% since 2023
฿541.8M
Net profit · 2025
134 profitable
202320242025

net profitrevenue

Foreign investment

new registrations · 2026 YTD
62%of new registered capital is foreign-held
฿14.0M foreign฿8.5M Thai

Foreigners are strongly represented in new investment under this activity.

1 of the 5 largest companies here are foreign-owned Thailand subsidiaries.

New in 2026

10-9.1%

registrations, YTD

Registered capital

฿1.8B+2.9%

since year-end

Largest by revenue

Latest filed-year revenue, not a multi-year total

  1. 1Iwata Ni Corporation (Thailand) Co., Ltd.intl฿3.4B
  2. 2Sherwin-Williams (Thailand) Co., Ltd.฿826.9M
  3. 3Car-Lack (Thai-German) Co., Ltd.฿673.7M
  4. 4Paracoating Co., Ltd.฿616.9M
  5. 5Thai Nakata Ni Co., Ltd.฿608.1M

Largest by registered capital

  1. 1Iwata Ni Corporation (Thailand) Co., Ltd.intlBangkok฿300.0M
  2. 2Hanson Chemical Co., Ltd.Bangkok฿150.0M
  3. 3Sherwin-Williams (Thailand) Co., Ltd.Chon Buri฿110.0M

Source: Department of Business Development DataWarehouse. Financial figures are combined totals of companies that filed statements; revenue and profit shown for the latest three reporting years.

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.

53
Registered
since 2022
51
Still active
2
Dissolved
฿2.0M
Median capital
of active

New registrations per year

2022peak 16 in 20242026

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.

Emerhub

Restricted activity? There is usually a route.

Emerhub structures foreign-owned companies around FBA restrictions: Foreign Business Licence applications, BOI promotion, and compliant shareholding structures. Talk through your case before you commit to one.

Talk to Emerhub Thailand