Dhirath Udhayanang expects the company to grow in line with the economic growth. (Photo supplied by the company)

Vinyl construction materials producer Nawaplastic Industries Co, a subsidiary of Siam Cement Group, expects a recovery in the overall economy and property market this year will help its sales to grow by 10% to 11 billion baht.

Managing director Dhirath Udhayanang said the company's business performance largely mirrors the country's GDP growth. Last year sales totalled 9.5 billion baht, up only 1% from 2014 as the economy was stagnant. It had averaged 7% annual growth the previous eight years.

"We will grow in line with GDP growth this year," he said. "Drought will also help boost our sales as there will be demand for PVC pipe from the agricultural sector to reduce the problem."

Of total sales, 80% was from PVC pipe, 18% from Windsor brand vinyl windows and doors and the rest from moulds.

Mr Dhirath said the company planned to boost sales by increasing its market share for vinyl windows and doors from 65% last year to 70% this year. In 2015, the market value of vinyl windows and doors totalled 2.7 billion baht, which is expected to reach 2.8 billion this year.

Nawaplastic aims to have 1.9 billion baht in sales from Windsor, up 12% from 1.7 billion last year, which was flat from 2014. Of the total, 70% would be from property projects and 30% from end users.

"First-quarter sales were in line with our target but we expect higher sales from the second quarter onward as housing developers start more projects after selling their stock during the government's property tax incentive period the first four months," he said.

To achieve the target, the company is launching a vinyl window and door product to draw the mass market, priced from 3,000 baht per square metre. Existing products are priced from 4,000 baht.

Production capacity for vinyl windows and doors is 10,000 tonnes, of which only 50% was used.

As PVC pipe demand can be stagnant in Thailand, the company plans to expand its production base to neighbouring countries this year to tap demand in Southeast Asia, including Cambodia and Myanmar. Last year exports accounted for 10% of sales, with vinyl windows and doors representing 3%.