Mining and Quarrying in Thailand: High Margin, Low Survival 2026
In short
Thailand's mining and quarrying sector runs a 13.49 percent net profit margin, the second highest of any sector as of 2 July 2026. Only 30.9 percent of its companies are still active, the lowest survival rate in the economy. The sector holds 8,231 registered firms. It reported about 0.43 trillion baht in revenue. Return on equity sits at 7.40 percent. High reward meets high mortality.
How does Thailand's mining and quarrying sector perform?
Mining is the sharpest paradox in the Thai register. The sector earns a 13.49 percent net profit margin, the second fattest of any section as of 2 July 2026, sitting just behind financial and insurance at 26.90 percent (DBD, 2026). Then look at who is left standing. Only 30.9 percent of mining and quarrying companies are still active, the lowest survival rate of any sector and well under the 50.0 percent national rate. Fewer than one mining company in three lives to trade another year. The ones that do keep more of each baht than almost anyone else. Just 8,231 firms carry the section, a rounding error at 0.4 percent of the 1,986,489 classified companies, yet together they reported close to 0.43 trillion baht in revenue. High reward and high mortality travel together here, and PTT Exploration and Production sits at the top of the revenue table.
The paradox in three bars
- Net profit margin13
- Survival rate31
- National survival rate50
Figures in percent.
Mining keeps a rich share of revenue as profit, yet far fewer of its firms survive than the national norm.
Mining and quarrying at a glance
| Metric | Value |
|---|---|
| Registered companies | 8,231 |
| Share of classified firms | 0.4% |
| Reported revenue | 0.43 trillion baht |
| Net profit margin | 13.49% |
| Survival rate | 30.9% |
| National survival rate | 50.0% |
| Return on equity | 7.40% |
| Return on assets | 4.88% |
| Leading firm by revenue | PTT Exploration and Production |
Section B, mining and quarrying, from the DBD registry as of 2 Jul 2026. The national survival rate of 50.0 percent is shown for contrast.
Why this matters
The two numbers explain each other. Mining and quarrying is capital heavy, permit gated and exposed to the price of whatever comes out of the ground, so a firm either hits a productive deposit and prints a rich margin or it burns through capital and closes. There is little soft middle. That selection is why the survivors look so profitable: a 30.9 percent survival rate is not a healthy sector, it is a harsh filter, and the 13.49 percent margin is measured only across the firms that cleared it. For anyone weighing a mining venture in Thailand, the register sends a blunt message. The upside is real and among the best in the economy, but roughly seven in ten registered peers did not make it. Read the margin and the survival rate as one fact, never as two. Mining also sits at the thin end of national output, close to two percent of gross domestic product in recent national accounts (NESDC, 2024), which makes the concentrated profit of its survivors all the more striking.
Definitions
- Net profit margin
- Net profit as a share of revenue. A 13.49 percent margin means about 13.49 satang of profit for every baht of revenue.
- Survival rate
- The share of registered companies in the sector still marked active rather than dissolved or dormant.
- Return on equity
- Net profit as a share of shareholder equity, a measure of how hard invested capital works.
- Return on assets
- Net profit as a share of total assets, a measure of how efficiently the asset base generates profit.
- Aggregate
- A sector total or ratio built from summed values across all firms, rather than the average of each firm's own figure.
Assumptions
- Margin and return figures include only companies that filed a financial statement, so firms that reported nothing do not contribute.
- Survival counts every registered firm in the section, whether or not it filed accounts.
- The gross domestic product share is contextual national accounts data and is not comparable to registry revenue.
Methodology
Figures are drawn from the Department of Business Development registry of juristic persons in Thailand as of 2 July 2026, grouped by TSIC section B, mining and quarrying. Net profit margin is aggregate net profit divided by aggregate revenue across firms in the section that filed a financial statement. Survival rate is the share of registered companies in the section still marked active. Return on equity and return on assets are section aggregates. The gross domestic product share is contextual and comes from national accounts, not from the registry, and does not change any registry figure.
How we verified this
- Recomputed the mining share of the register: 8,231 divided by 1,986,489 equals 0.414 percent, which rounds to the stated 0.4 percent.
- Confirmed the 13.49 percent net margin is the second highest sector margin, behind financial and insurance at 26.90 percent, a gap of 13.41 percentage points.
- Confirmed the 30.9 percent survival rate is the lowest of any sector and sits 19.1 percentage points below the 50.0 percent national rate.
- Checked the paradox claim: 30.9 percent is below 33.3 percent, so fewer than one mining company in three is active.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Economic and Social Development Council. (2024). National account of Thailand: Gross domestic product by industry. Office of the Prime Minister, Thailand. https://www.nesdc.go.th/nesdb_en/main.php?filename=national_account
Frequently asked questions
How profitable is mining and quarrying in Thailand?
The sector posts a 13.49 percent net profit margin as of 2 July 2026, the second highest of any sector, behind financial and insurance at 26.90 percent.
What is the survival rate of Thai mining companies?
Only 30.9 percent of mining and quarrying companies are still active, the lowest survival rate of any sector, against a 50.0 percent national rate.
How many mining and quarrying companies are registered in Thailand?
There are 8,231 registered mining and quarrying firms, about 0.4 percent of the 1,986,489 classified companies, and together they reported close to 0.43 trillion baht in revenue.
Which mining company leads by revenue?
PTT Exploration and Production is the leading firm by revenue in the section as of 2 July 2026.
Cite this page
Chatpong L. (2026). Mining and Quarrying in Thailand: High Margin, Low Survival 2026. Max Data Insights. https://maxdatathailand.com/insights/mining-and-quarrying-companies-in-thailand-2026
Data & corrections
Download the data (CSV)Spot something off, or want to ask about the data? Email insights@maxsolutions.co.th. We publish corrections.
Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
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This page reports company-level and aggregate statistics only. It names no individuals and makes no claims about any person. Figures are provided for information and may be revised as source data updates.