Workers unload steel rods at a construction site on Sukhumvit Road. The sluggish property market has affected sales of building materials and furnishings. (Photo by Thanarak Khunton)

The property market's slowdown has prompted some makers of construction materials and furniture to rely more heavily on overseas buyers and rush new products to market in a bid to boost sales in the second half of the year.

Thai Gypsum Products Plc, a maker of gypsum plasterboard under the Gyproc brand, is one example of a local firm eyeing overseas markets to offset slowing Thai sales.

"This year, our sales growth will be driven by foreign markets," said managing director Richard Juggery. "We will stimulate sales in Asean countries like the Philippines, Myanmar and Cambodia."

Thai Gypsum had sales of 3.4 billion baht last year, marking steady growth from 2015. Half the total came from domestic sales and the balance from 35 foreign markets, including the Philippines, Myanmar, Cambodia, Laos, Vietnam, South Africa, Taiwan, China, Australia and New Zealand.

Marketing director Sahattaya Thongpreecha said Thai Gypsum's sales in the first quarter missed targets and were down slightly from the year-earlier period. She cited the declining number of new property projects.

"Some residential projects were launched but construction did not start, as developers still had inventory on their hands," Ms Sahattaya said. "The situation in the second half will recover as existing supply is likely taken up after demand slowed in the first half."

She said the government's spending on new mass transit lines in the second half will also boost housing demand as the new stations promote urbanisation.

Thai Gypsum's new products include gypsum plaster with a special white colour; a moisture- and mould-resistant gypsum board; and a ceiling board for sound insulation and climate control.

The three new products will be featured during the Architect '17 fair at Impact Muang Thong Thani through May 7.

Kitti Boonprakong, chief executive of Conwood Co Ltd, a fibre cement maker under Insee Group, said his company will introduce decorative fibre cement to help push sales this year after a slowdown in the first quarter.

"Fibre cement grows in line with the property market," he said. "It generates 80% of our sales per annum. Decorative fibre cement accounts for only 20%, and we aim to boost the figure to 30-40% in the next 3-5 years."

Thaksa Busayapoka, chief executive of furniture maker Modernform Group, said the company's sales fell by 10% last year to 3.3 billion baht.

"We will shift to furniture for hotels and resorts, as well as for hospitals, for which we aim to have 15% growth after a 9% increase in 2016," he said.