ArmorThane Expands with Joint Venture to Supply Southeast Asian Nations
[Springfield, MO, November 2019] — ArmorThane®, a leader in the protective coatings and foam industry is excited to announce a new joint venture with Bangkok Integrated Trading (BIT) which is owned and operated by Somchai Punyapongpaet of Bangkok, Thailand. Mr Punyapongpaet has more than 40 years experience in the spray foam industry and ArmorThane that recently celebrated 30 years of business in the polyurea coating industry making this alliance a perfect fit.
BIT specializes in spray polyurethane foam (SPF) whereas ArmorThane has been a consistent leader in the polyurea protective coatings and linings industry for over three decades.
BIT has established itself as a leader in the spray foam industry by developing quality products and solutions for original equipment manufacturers and spray foam contractors in the ASEAN (Association of Southeast Asian Nations) territory. By combining the expertise of the two companies, we forecast the next few years to be an upward trajectory. Especially considering, recent reporting shows the Polyurea market itself to be over 1.5 billion for the next year and continue on at a CTGR (compound annual growth rate) of over 15%. Polyurethane foam itself is expected to reach over 2 billion in the coming year with a CAGR over 5%.
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A small investment for coating equipment and products will get you started in a new polyurea, polyurethane, and spray foam business or increase the revenue of an existing company. With no franchise fees or royalties, starting a protective coating business or other ArmorThane dealer business is a relatively low cost venture.
We provide personal training to get your new polyurea or polyurethane system up and going. Plus, we have a dedicated support team ready to assist you anytime you need us. We sell to dealers around the world who use our products for a wide variety of applications. These include everything from truck bed liners to animal habitats.