Crocodile Corporation Co., Ltd. is a true innovator in comprehensive construction solutions, offering quality products that cover construction, repair, and decoration from foundation to roof. In the first half of 2023, the company reported a growth of 9.5% compared to the same period last year and expects to achieve its set targets despite the challenges posed by the Thai economy and increasing competition. The company stands firm with the philosophy of "Build Today, Beyond Tomorrow," creating today for a more sustainable tomorrow through innovative construction products that meet quality standards in every production process. This year's success stems from a clear strategic plan to address challenges and accommodate new demands, including the rising need for construction materials for repair and reinforcement following earthquakes, the continuous growth of public construction projects and real estate, as well as expansion into international markets and new products that have started to generate good sales.

Dr. Jirath Sirichalermpong, Senior Assistant Managing Director of Crocodile Corporation Co., Ltd. stated, "The Crocodile brand continues to dominate the market in the cement adhesive and grout innovation segment, which has a market value of 5.5 billion baht, with a market share of over 50%. Meanwhile, the construction chemical product group has shown remarkable growth of 24%, with a revenue target of 900 million baht for 2023. Crocodile is implementing a long-term business expansion plan in international markets while continuing to expand its customer base and strengthen distribution channels through over 3,000 stores both in Thailand and abroad."

The Thai construction market in 2023 shows signs of stability with slight negative growth, with a total market value of 1.4 trillion baht, driven mainly by infrastructure projects, investments from both public and private sectors, and tourism. Meanwhile, the construction chemical materials market, such as sealants and waterproofing, is growing at over 5.5% per year and is expected to continue growing at least 5% (CAGR) until 2030, reflecting stable long-term expansion opportunities.

Public construction investment is expected to grow by 3-5% this year due to investments in mega-projects, both existing and new, such as port projects, expressways, high-speed rail, and infrastructure in the EEC area. In contrast, the private sector is expected to contract by -4 to -5.6%. Additionally, the construction materials market has benefited positively from earthquakes that have created urgent repair demands, with contractors increasingly prioritizing quality products that meet safety standards and disaster resilience.

Dr. Jirath Sirichalermpong remarked, "Amidst the slow but steady growth of the construction industry, we see a trend towards the demand for high-quality materials, especially following the earthquake. Homeowners and organizations are increasingly focusing on building solid foundations and repairs that ensure long-term durability and safety. Moreover, sustainability remains a crucial factor in consideration, with environmentally friendly construction materials expected to grow by 5-6% from 2023 to 2025, aligning with changing consumer demands. Crocodile is confident in adapting to this demand and maintaining its leadership position through innovations that meet the diverse trends and needs of the domestic and regional markets."

In the CLMV construction materials market (Cambodia, Laos, Myanmar, Vietnam), growth potential remains promising despite global economic volatility. The economies of Myanmar, Cambodia, and Vietnam are projected to grow by 5-7% in 2023, driven primarily by infrastructure investments such as roads, bridges, and water and electricity systems, which continuously boost the demand for construction materials. Trade and investment between Thailand and CLMV are expected to gradually expand, with Vietnam showing the best growth prospects in the group due to benefits from foreign production relocations to Vietnam, along with infrastructure and industrial park developments. Meanwhile, Myanmar faces earthquake events that have increased the demand for construction materials from Thailand, particularly cement and steel. Thus, the CLMV region remains a promising area for Thai businesses looking to expand into international markets.

Crocodile continues to expand its international market presence. Dr. Jirath Sirichalermpong shared, "Currently, 90% of our sales are domestic, with 62% from Traditional Trade and 38% from Modern Trade. Crocodile aims to develop and sustainably enhance the capabilities of our partners, especially our 'Crocodile Shop (JORAKAY SHOP)' partners, who play a crucial role in promoting Crocodile products to users, including construction workers, contractors, specialized applicators, and real estate developers through comprehensive marketing and promotional activities. Meanwhile, international sales account for 10%, and we aim to increase the international share to 16% by expanding products in existing markets and penetrating new markets. Our main strategy is to strengthen local partnerships and distribute products through key distributors while enhancing retail channels. Currently, our products are available in 17 countries. Expanding into international markets is a pathway to sustainable business growth that will enable Crocodile to achieve significant leaps in the future."

One of the key trends in the construction materials industry in 2023 remains sustainability and well-being, as consumers increasingly prioritize materials that reduce carbon emissions and are safe for people and the environment. Crocodile has long embraced this trend under the vision of "Sustainable Building Innovation," focusing on developing quality innovations that are safe for health and environmentally friendly. Dr. Jirath Sirichalermpong emphasized, "Crocodile is committed to sustainability goals seriously. Currently, we have over 63% of our products classified as Green Products and aim to continuously reduce carbon emissions in our operations. Our strategic plan is to achieve carbon neutrality by 2050 and reach Net Zero by 2065. Throughout our 33 years in business, Crocodile has always recognized that sustainability is not an option but a vital tool for driving business and society forward together sustainably."

Crocodile will not stop at being a market leader in sales; the company is dedicated to driving positive change in the industry with a vision to elevate society through the delivery of both innovation and "people development". The Crocodile Academy Training Center has successfully transferred knowledge, creating a new generation of skilled workers and raising standards in the Thai construction industry. Furthermore, Crocodile is extending its efforts to develop regional labor through the "Crocodile Tiler X" project, the first regional tiling championship in Southeast Asia, reinforcing Crocodile's role as a leader in regional tiling standards. With a steadfast commitment to develop, grow, and expand, Crocodile is writing a new history for a sustainable construction industry to create a better world for future generations.