PSP Specialties Public Company Limited, a Thai manufacturer of process oils, is entering Vietnam’s manufacturing sector to supply specialised oils for rubber and tyre production, industrial applications, and footwear manufacturing. Sakesan Crownophanes, PSP Specialties’ Deputy Chief Executive Officer, described Vietnam as a key market in Southeast Asia, citing the convergence of tyre production, footwear manufacturing, and industrial applications as driving demand for specialised process oils.
Bangkok-headquartered PSP Specialties’ portfolio includes aromatic, naphthenic, and TDAE process oils. These products comply with EU Low-PAHs requirements and Vietnam’s Extended Producer Responsibility (EPR) regulations, which came into effect in April 2024. The company has an annual production capacity of 44 million litres in Thailand, holding a 45% market share, and operates strategic facilities in Thailand and Myanmar to support logistics. Plans are underway to introduce bio-based process oils by mid-2026.
Sustainability considerations are becoming increasingly important for Vietnamese manufacturers supplying European markets, and for this reason, the process oils supplied by PSP Specialties meet EU environmental standards while maintaining performance suitable for tyre, industrial rubber, and footwear applications.