Thailand’s push into higher-value upstream manufacturing is gaining visibility as global suppliers look for locations to expand capacity for AI computing, electric vehicles (EVs), and clean energy. Since 2023, makers of capacitors, magnets, and battery materials have filed 35 advanced materials projects worth about USD 690 million (23.5 billion baht) with the Thailand Board of Investment (BOI), according to BOI statements carried in multiple reports. The filings run through the first half of 2026. In the context of the Thailand passive electronic components industry, the most direct linkage is to capacitor ecosystems and the materials that enable higher performance in compact electronics.
The BOI-described project mix spans multilayer ceramic capacitors (MLCCs), thermal graphite films, high-performance ceramics, battery and fuel-cell materials, neodymium magnets, glass and quartz fabrics for printed circuit boards, and nanomaterials for precision manufacturing. The stated direction is a shift from downstream assembly toward high-value materials that sit closer to critical supply chains. BOI Secretary General Narit Therdsteerasukdi framed the rationale as the move toward products that are “smaller and lighter, yet stronger and more efficient,” and said producing advanced materials in Thailand is key to building sustainable industrial capacity, reducing reliance on imports, and helping Thai companies join higher-value supply chains.
Why AI Servers and EVs Matter to Passive Components
AI infrastructure demand is especially relevant for capacitor-heavy electronics. MLCCs are described as essential components across devices from smartphones to AI servers, and one high-end server can use up to 30,000 MLCCs. That intensity helps explain why upstream materials, thermal management, and PCB inputs appear repeatedly in the BOI filing list. Some projects highlighted in coverage include Taiwan’s Fultech Fiber Glass, which makes glass fabric for printed circuit boards, including high-performance grades for AI servers, and Jones Tech, which produces synthetic and natural graphite films designed to carry heat away from electronic devices.
Thailand is also positioned as an established production base for global component makers that anchor passive-component supply chains. Reports cite Japan’s Murata Electronics, noted as holding more than 35% of the global MLCC market, and Kyocera AVX Components, described as the world’s top tantalum capacitor maker. Alongside AI, the filings point to electrification demand in EVs and related energy systems. Examples named in the reported project set include BGN Thai’s coated foils for lithium-ion batteries, Phinis Well’s neodymium magnets for EV motors, and Xinyuan Graphite’s bipolar plates for hydrogen fuel cells.
Several projects connect advanced materials to automotive and industrial applications that sit adjacent to electronics manufacturing. CoorsTek Advanced Materials, a subsidiary of US-based CoorsTek, is reported to have invested in producing ceramics for automotive pressure sensors and silicon nitride balls for hybrid bearings used in EVs and wind turbines. Golden Egret Cemented Carbide is making tungsten carbide powders for precision cutting tools, reinforcing a base for high-precision manufacturing. Commentary on the filings cautions that the USD 690 million figure reflects planned investment tied to BOI-filed projects, meaning it measures intent rather than guaranteed operating output, even as the BOI says it will keep building this investment base.
How large is the BOI advanced materials pipeline linked to AI servers and EVs in Thailand?
Why are MLCCs a focal point for Thailand’s passive components ecosystem?
Which companies are cited as part of Thailand’s existing base for passive components?
What kinds of materials are included in the BOI project filings besides capacitors?
What does this mean for the Thailand passive electronic components industry?
