Thai Specialty Oils Leader Targets Vietnam's Booming Tire and Rubber Manufacturing Sector with High-Performance Process Oil Solutions

HANOI, Vietnam, Dec. 15, 2025 /PRNewswire/ -- As Vietnam's rubber and plastic products sector surges with 24.9% annual growth in 2024 and tire production exceeding 30 million units annually—90% destined for export markets—P.S.P. Specialties Public Company Limited, Thailand's leading specialty oils manufacturer with over 30 years of expertise, is expanding into Vietnam's dynamic manufacturing landscape with specialized process oil solutions. The market entry capitalizes on Vietnam's emergence as the world's second-largest footwear exporter with USD 22.9 billion in exports and the tire industry projected to reach 52 million units by 2033, and the country's USD 188 million industrial rubber market growing at 4.02% CAGR through 2028—creating unprecedented demand for high-performance process oils.

Capitalizing on Vietnam's Rubber Manufacturing Leadership
Mr. Sakesan Krongphanich, Deputy Chief Executive Officer of P.S.P. Specialties Public Company Limited, emphasized Vietnam's strategic importance. "Vietnam has emerged as a dominant force in Southeast Asia's rubber manufacturing sector. The convergence of world-class tire production, leading footwear manufacturing, and expanding industrial applications creates exceptional opportunities for specialized process oil solutions," said Mr. Sakesan.

Three Strategic Market Segments
Tire Manufacturing: Vietnam's tire manufacturers produce over 30 million units annually, with exports forecast to reach 52 million units by 2033. Major facilities require consistent supplies of aromatic, naphthenic, and TDAE process oils.

Industrial Rubber: Vietnam's market serves automotive components, construction materials, and electronics manufacturing with growing demand for specialized process oils.

Footwear Industry: With 2,200 footwear companies producing USD 22.9 billion exports in 2024, Vietnam serves global brands. Process oils provide flexibility, durability, and surface finish quality demanded internationally.

Comprehensive Product Portfolio
PSP Specialties offers solutions tailored to Vietnamese manufacturing: Aromatic Process Oils deliver compatibility with natural rubber for tire manufacturing. Naphthenic Process Oils provide Low-PAHs content meeting EU directives. TDAE represents non-carcinogenic alternatives aligning with Vietnam's Extended Producer Responsibility regulations implemented April 2024.

Competitive Advantages
PSP Specialties brings 44 million liters of annual rubber process oil capacity with 45% market share in Thailand, leading global and local tire manufacturers. Strategic facilities in Thailand and Myanmar enable efficient logistics. The company plans to introduce bio-based process oils by mid-2026.

Supporting Sustainable Manufacturing
"Vietnamese manufacturers increasingly face sustainability and environmental requirements from European buyers," Mr. Sakesan emphasized. "Our Low-PAHs, non-carcinogenic process oils meet European Union standards while maintaining superior performance."

"PSP Specialties is committed to becoming a trusted partner for Vietnam's rubber manufacturing industry," Mr. Sakesan concluded. "We provide technical consultation that enables manufacturers to optimize production efficiency and meet international standards." 

About P.S.P. Specialties Public Company Limited
P.S.P. Specialties Public Company Limited (PSP), listed on the Stock Exchange of Thailand, is a leading specialty oils manufacturer with over 30 years of experience and more than 300 specialized formulations serving industrial applications worldwide. For more information: https://specialtyoils.psp.co.th

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Thai Specialty Oils Leader Targets Vietnam's Booming Tire and Rubber Manufacturing Sector with High-Performance Process Oil Solutions

SINGAPORE, Dec. 15, 2025 /PRNewswire/ -- The Singapore Yachting Festival (SYF) will return from 23 to 26 April 2026 at ONE°15 Marina Sentosa Cove with its largest edition yet. Organised by ONE15 Events Management, the expanded showcase will feature more yachts, global launches, and deeper industry engagement, reaffirming Singapore's position as a leading hub for Asia's growing yachting market.

In a strong endorsement of this momentum, J.P. Morgan Private Bank has renewed its role as Official Bank Partner for SYF 2026. "J.P. Morgan Private Bank is delighted to renew our partnership with the Singapore Yachting Festival as Official Bank Partner for the second year. This collaboration reflects our longstanding sailing heritage and our commitment to excellence, innovation, and creating meaningful experiences that align with our clients' passions. We look forward to celebrating the spirit of yachting with the vibrant community in Singapore and across the region," said Harshika Patel, Chief Executive Officer, J.P. Morgan Private Bank in Asia.

Damen Yachting has also reaffirmed its support as a major sponsor of the Superyacht Lounge for a second year, following strong visibility and positive outcomes at SYF 2025. Their continued backing reinforces SYF's value as a strategic platform and highlights rising demand for superyachts across Asia.

To build anticipation, SYF will launch a regional outreach campaign featuring activation events in Indonesia, Thailand and Singapore. These engagements aim to connect with luxury consumers, high net worth guests, and industry stakeholders while strengthening SYF's profile as a must-attend event.

SYF 2026 will introduce exclusive VIP luncheons and cocktail receptions aboard superyachts, offering buyers private networking opportunities and curated culinary experiences by private chefs.

Exhibitors confirmed include Azimut Yachts, Boat Lagoon Yachting, DCH Marine, Ferretti Group, Leopard Catamarans and Simpson Marine. Attendance is expected to exceed 13,000 visitors from Singapore, Asia, and global markets, reinforcing Singapore's role as a pivotal hub for yacht builders, distributors, and discerning buyers.

Ahead of the Festival, the Southeast Asia Yachting Conference will take place on 21–22 April at ONE°15 Marina, featuring sessions on market outlook, charter trends, superyacht activity, AI-driven innovation, decarbonisation, and regional case studies.

The prestigious Yacht Style Awards returns on 22 April, bringing together 350 VIPs, yacht owners, and industry leaders to celebrate excellence in yacht design, innovation, and ownership experiences.

Media Kit: here.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Global Brands Reinforce Confidence in Asia's Luxury Yachting Market as J.P. Morgan Private Bank Returns to Singapore Yachting Festival 2026