Thong Thai Textile (TTL)
Thong Thai Textile Public Company Limited (SET: TTL) is a Thai-listed integrated textile manufacturer producing yarn and woven fabrics. Supplies domestic garment manufacturers, apparel brands, and export-oriented cut-make-trim factories. Operations span ring-spinning, open-end spinning, and weaving for both natural and synthetic fibre blends. Thai textile manufacturers including Thong Thai face structural competitiveness pressure from lower-cost Vietnam, Bangladesh, and Cambodia, requiring upgrading into functional textiles, technical fabrics, and sustainable-fibre segments to maintain margin. Listed on the Stock Exchange of Thailand.
Snapshot
Headline numbers a buyer checks first.
Market cap (SET:TTL)
~THB 0.8-1.2B
2024
Small-cap; market cap fluctuates with cotton price cycle
Revenue (est.)
~THB 2.0B
FY2024
Core products
Cotton-blend yarn, woven fabric
2024
Annual spinning capacity
~20,000 tonnes
2024
Profile overview
Thong Thai Textile Public Company Limited (SET: TTL) is a Thai-listed integrated textile manufacturer producing yarn and woven fabrics. Supplies domestic garment manufacturers, apparel brands, and export-oriented cut-make-trim factories. Operations span ring-spinning, open-end spinning, and weaving for both natural and synthetic fibre blends. Thai textile manufacturers including Thong Thai face structural competitiveness pressure from lower-cost Vietnam, Bangladesh, and Cambodia, requiring upgrading into functional textiles, technical fabrics, and sustainable-fibre segments to maintain margin. Listed on the Stock Exchange of Thailand.
Business segments
Yarn spinning
Ring and open-end spinning
Both ring-spinning (finer count, quality yarns) and open-end rotor spinning (coarser count, high-volume). Cotton, polyester-cotton, and blended yarns. Annual capacity ~20,000 tonnes. Serves garment, knitwear, and household textile factories.
Weaving
Woven fabric for apparel
Downstream weaving of own-spun yarns into grey and finished woven fabric. Customers include Thai apparel brands and CMT export factories. Finished fabric accounts for ~40% of TTL revenue vs yarn-only sales.
Sustainable fibres
Recycled and organic transition
BOI-incentivised upgrade toward GOTS-certified organic cotton, recycled-polyester blends to meet EU brand sourcing mandates (CBAM-adjacent), and eco-certification requirements from Japanese, European buyers.
Competitive
Listed mid-tier Thai spinner
One of ~15 listed Thai textile companies. Direct peers include Thai Filo Fabric and Tuntex Thailand at mill level. Structural pressure from Vietnam, Bangladesh on commodity yarn; differentiation depends on quality certification and functional-fibre pivot.
Thai listed yarn and fabric manufacturer comparison
FY2024 estimates
Ticker
SET:TTL
Core product
Cotton-blend yarn, woven fabric
Revenue (THB B)
~2.0
Key certifications
ISO 9001, OEKO-TEX in progress
Ticker
SET:TFL
Core product
Woven fabric (cotton-polyester)
Revenue (THB B)
~1.5
Key certifications
WRAP, OEKO-TEX
Ticker
SET:TUNTEX
Core product
Polyester chip, filament yarn
Revenue (THB B)
~3.5
Key certifications
GRS (recycled polyester)
Indo Poly Siam
Ticker
SET:IPS
Core product
PET resin, recycled fibre
Revenue (THB B)
~6.0
Key certifications
GRS, OEKO-TEX
| Entity | Ticker | Core product | Revenue (THB B) | Key certifications |
|---|---|---|---|---|
| Thong Thai Textile | SET:TTL | Cotton-blend yarn, woven fabric | ~2.0 | ISO 9001, OEKO-TEX in progress |
| Thai Filo Fabric | SET:TFL | Woven fabric (cotton-polyester) | ~1.5 | WRAP, OEKO-TEX |
| Tuntex Thailand | SET:TUNTEX | Polyester chip, filament yarn | ~3.5 | GRS (recycled polyester) |
| Indo Poly Siam | SET:IPS | PET resin, recycled fibre | ~6.0 | GRS, OEKO-TEX |
Key drivers 2025-2026
Trade
CBAM and EU sourcing shifts
EU Carbon Border Adjustment Mechanism creates indirect incentive for EU brands to source from lower-carbon certified suppliers. Thai mills with renewable-energy weaving and organic-cotton certification are positioned for preference.
Cost
Cotton import price cycle
Thailand imports 100% of raw cotton. Cotton ICE futures prices normalised to ~75-85 USc/lb in 2024 from ~160 USc/lb 2022 peak; input cost relief supports margin recovery.
Where this profile is featured
Reports that reference this entity in their operator concentration or analysis.
Featured in
Thai Cotton Textile: Import Dependence and the Cycle Beneath It
Representative private-tier Thai cotton spinner; produces cotton-blend yarn and fabric for domestic and export garment manufacturers.
Featured in
Thai Technical Textile: CBAM Defence and the BOI Pivot
Representative private-tier Thai cotton spinner; produces cotton-blend yarn and fabric for domestic and export garment manufacturers.
Related Market profiles
Peers, parents, partners, agencies, and other Textile & Garment actors.
Competitor
Saha Pathana Inter-Holding
Saha Group anchor holding; Wacoal, Bata, Arrow apparel licensees, ~200 group companies.
Open Market profile →
Competitor
Saha Union (SUC)
Thai-listed diversified textile and industrial group (SET: SUC); Sukree-Bodiratnangkura family; spans spinning, weaving, garment, and industrial zipper manufacturing.
Open Market profile →
Competitor
Mae Sot Garment Manufacturing Cluster
Mae Sot's garment manufacturing cluster in Tak Province employs predominantly Myanmar migrant labour under the Thailand-Myanmar MOU framework, supplying global fast-fashion and mid-market apparel brands.
Open Market profile →
Sector peer
Sikh/Punjabi Textile Cluster Phahurat Bangkok
Bangkok's Phahurat district Sikh and Punjabi wholesale textile cluster; the largest fabric wholesale market in Thailand, known as Bangkok's 'Little India'.
Open Market profile →
Reports featuring this profile
Thai Cotton Textile: Import Dependence and the Cycle Beneath It
Representative private-tier Thai cotton spinner; produces cotton-blend yarn and fabric for domestic and export garment manufacturers.
Open report →
Sits alongside 3 other Atlas profilesThai Technical Textile: CBAM Defence and the BOI Pivot
Representative private-tier Thai cotton spinner; produces cotton-blend yarn and fabric for domestic and export garment manufacturers.
Open report →
Sits alongside 3 other Atlas profilesThailand Cotton, Silk and Technical Textiles: Export Structure
Adjacent SET:TT in Thai textile manufacturing
Open report →
Sits alongside 4 other Atlas profilesRelated Market profiles
competitor
Saha Pathana Inter-Holding
Saha Group anchor holding; Wacoal, Bata, Arrow apparel licensees, ~200 group companies.
competitor
Saha Union (SUC)
Thai-listed diversified textile and industrial group (SET: SUC); Sukree-Bodiratnangkura family; spans spinning, weaving, garment, and industrial zipper manufacturing.
competitor
Mae Sot Garment Manufacturing Cluster
Mae Sot's garment manufacturing cluster in Tak Province employs predominantly Myanmar migrant labour under the Thailand-Myanmar MOU framework, supplying global fast-fashion and mid-market apparel brands.