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Global chemical producer focused on collaboration
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Clear Lake, Houston, TX, USA
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Indorama Ventures operates as a global chemical company focused on creating and supplying polymer and chemical products that serve multiple industries. Its products are developed and delivered through tightly woven relationships with customers and industry partners, with a strong emphasis on collaboration and sharing progress on “reimagining chemistry” to benefit society. The company’s approach centers on working closely with customers and internal teams and across industries to develop solutions, not just sell materials. What sets Indorama Ventures apart is its orientation toward long-term relationships and open communication about its chemistry journey, guiding efforts with a social-policy-aware, collaborative mindset. The company aims to make a better world by applying chemistry to real-world challenges through partnerships and ongoing dialogue with stakeholders.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Bangkok, Thailand
Founded
1994
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Indorama partners with Suntory and Iwatani on PET packaging in Thailand. The project will bring flake-to-preform (FtoP) direct recycling technology to Thailand via Indovida (Thailand). Indorama Ventures has teamed up with Suntory Holdings, Suntory PepsiCo Beverage (Thailand) and Iwatani to develop commercial-scale circular polyethylene terephthalate (PET) packaging in Thailand through its packaging unit, Indovida. The project will bring flake-to-preform (FtoP) direct recycling technology to Thailand via Indovida (Thailand), a joint venture set up by Indorama Ventures and Iwatani. The patented FtoP process was developed by Suntory and three partner companies, including Japanese recycling company Kyoei Industry. It allows PET preforms to be made directly from recycled PET bottles. The companies said the process increases recycling efficiency and lowers environmental impact. According to Indorama Ventures, this is the first commercial use of the technology in Southeast Asia. The venture is expected to produce recycled PET preforms equal to around 400 million PET bottles a year. From 2028, the preforms will be supplied to Suntory PepsiCo Beverage Thailand. Indorama Ventures said the arrangement adds to its packaging activities by linking its PET, recycled PET and packaging manufacturing operations with technology and external partnerships. Under the partnership, Indorama Ventures will provide recycled PET, integrated materials and packaging manufacturing expertise. Suntory will contribute the FtoP technology and operational knowledge developed in Japan while Iwatani will provide industrial expertise and its existing relationship with Suntory. Suntory PepsiCo Beverage (Thailand) will be the first buyer of the recycled PET preforms made under the project. Indorama Ventures Group CEO Aloke Lohia said: "This collaboration reflects Indorama Ventures' commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond. "By combining its integrated PET value chain with world-class recycling technology and strong industry partners, Packaging Gateway is expanding its ability to deliver differentiated circular packaging solutions while reinforcing its downstream packaging platform. "This partnership reflects our IVL 2.0 strategy of building market-leading businesses through focused partnerships, innovation and disciplined investment, creating lasting value for our customers, shareholders and other stakeholders." Last month, Indorama Ventures introduced a Zero Waste to Landfill programme at PETValue Philippines, its recycling facility in Cavite. Give your business an edge with its leading industry insights.
Suntory to introduce Flake-to-Preform Direct Recycling (FtoP) Technology in Thailand production of 100% recycled PET bottles using the technology to begin in 2028. 20th August 2026 Tokyo, Japan (August 19, 2026) - Suntory Holdings will introduce the Flake-to-Preform Direct Recycling (FtoP) Technology for 100% recycled PET bottles in Thailand starting in 2028. Ventures PCL and Iwatani Corporation, will produce PET preforms[1] using the FtoP technology, with PET flakes mainly sourced from Indorama Ventures PCL. Indovida (Thailand) Limited is expected to have an annual production capacity of approximately 400 million PET preforms, all of which will be procured by Suntory PepsiCo Beverage (Thailand). Beginning in 2028, the preforms will be introduced into products sold in Thailand, advancing the use of recycled materials while improving recycling efficiency and reducing environmental impact. This initiative marks the first[2] commercial introduction of the FtoP technology for PET bottles in Southeast Asia. What is FtoP Technology? Jointly developed by Suntory and three partner companies, including Japanese recycling firm Kyoei Industry Co., Ltd., the patented FtoP technology enables PET preforms to be manufactured directly from recycled PET bottles. By eliminating certain processes required in conventional PET bottle recycling, such as crystallization and drying, the technology is estimated to reduce CO[2] emissions by approximately 70%[3] compared with bottles made from virgin fossil-based materials. Since 2018, the technology has been applied to the production of Suntory's soft drink PET bottles in Japan. Expanding Application Beyond Japan The technology has traditionally required a stable supply of used PET bottles that meet certain quality standards, limiting its deployment in markets where collection and recycling systems differ from those established in Japan. Suntory collaborated with equipment manufacturers, including NGR (Next Generation Recyclingmaschinen GmbH) and Husky Technologies(TM), to optimize the technology for PET bottle recycling conditions in Thailand. By optimizing the selection criteria for collected PET bottles and the decontamination process, the technology can now be applied to collected PET bottles of varying quality while maintaining the same high standards of quality and safety achieved in Japan, enabling the direct conversion of recycled PET flakes into high-quality PET preforms. "A truly circular economy can only be built through collaboration across the value chain," said Aloke Lohia, Group CEO of Indorama Ventures. "With Suntory Group and Iwatani Corporation, we are bringing together world-class innovation and expertise to make commercial-scale circular PET production a reality in Thailand. This partnership helps us position Thailand as a regional leader in circular packaging solutions while creating long-term value for the environment, our customers and the economy." Kenji Motoori, Director, Senior Managing Officer, General Manager, Materials Business Group of Iwatani Corporation added, "We are delighted to begin this initiative with the Suntory Group to advance the commercialization of FtoP technology in Thailand. Through our joint venture with Indorama Ventures, we will support this project by ensuring a stable supply of high-quality recycled PET preforms. We will continue to work closely with our partners to help realize a circular economy." Implementation & Future Outlook Beginning in 2028, Suntory Group will introduce the technology in Thailand in collaboration with Indovida (Thailand) Limited, with plans to explore future expansion into additional markets in Southeast Asia. "We see the introduction of this FtoP technology in Thailand as a significant step forward in expanding the adoption of sustainable PET bottle, which is a key target of Suntory Group," said Jun Asaki, Chief Sustainability Officer of Suntory Holdings. "Through collaboration with a wider range of partners, we aim to promote PET bottles as a sustainable packaging solution in Thailand and across Southeast Asia, contributing to the realization of a circular society and environmental impact reduction." As a corporation sustained by the gifts of nature and water, and with a purpose "To inspire the brilliance of life, by creating rich experiences for people, in harmony with nature," Suntory Group has been committed to achieving a sustainable society since its founding. Based on the Suntory Group Plastic Policy established in 2019, the Group aims to use recycled or bio-based materials for all its PET bottles globally by 2030 and eliminate the use of newly produced virgin fossil-based materials. Through its 2R+B (Reduce/Recycle + Bio) strategy, including PET bottle lightweighting, "bottle-to-bottle" horizontal recycling in Japan and the introduction of recycled PET bottles, Suntory Group will continue its efforts to realize a circular society and reduce environmental impact. *1 A PET bottle preform shaped like a test tube and made from PET resin. PET bottles are formed by heating this and injecting air under high pressure. *2 Based on Suntory Holdings' assessment (as of July 2026) *3 Based on calculations for Japan only.
Indorama Ventures strengthens Packaging business through strategic circular PET partnership. 20 Aug 2026 Indorama Ventures Public Company Limited, a global sustainable chemical company, announced a strategic partnership through Indovida, Indorama Ventures' packaging business segment, with Suntory Holdings Limited, Suntory PepsiCo Beverage (Thailand) Co., Ltd. and Iwatani Corporation, to bring commercial-scale circular PET packaging to Thailand. The collaboration further strengthens Indorama Ventures' downstream packaging platform while expanding its leadership in circular packaging solutions. The collaboration will introduce Flake-to-Preform(TM)(FtoP) Direct Recycling Technology to Thailand through Indovida (Thailand) Limited, a joint venture established by Indorama Ventures and Iwatani Corporation. Jointly developed by Suntory and three partner companies, including Japanese recycling firm Kyoei Industry Co., Ltd., the patented FtoP technology enables PET preforms to be manufactured directly from recycled PET bottles, improving recycling efficiency while reducing environmental impact. The joint venture marks the first commercial deployment of the technology in Southeast Asia and is expected to produce recycled PET preforms equivalent to approximately 400 million PET bottles annually. Beginning in 2028, the preforms will be supplied to Suntory PepsiCo Beverage Thailand. Through Indovida, Indorama Ventures continues to strengthen its integrated packaging platform by combining its expertise in PET, recycled PET and packaging manufacturing with differentiated technologies and strategic partnerships. The partnership enhances the company's circular packaging capabilities in Thailand and provides a platform to explore future opportunities across Southeast Asia, reinforcing its IVL 2.0 growth strategy while supporting customers' sustainability ambitions. Each partner contributes complementary capabilities across the packaging value chain. Indorama Ventures contributes expertise in recycled PET, integrated materials and packaging manufacturing. Suntory provides the FtoP recycling technology and implementation know-how developed in Japan, while Iwatani contributes its industrial expertise and long-standing partnership with Suntory. Suntory PepsiCo Beverage (Thailand) will be the first commercial customer for Indorama Ventures to use the recycled PET preforms produced through the project. Mr. Jun Asaki, Chief Sustainability Officer of Suntory Holdings, commented: "We see the introduction of this FtoP technology in Thailand as a significant step forward in expanding the adoption of sustainable PET bottles, a key target of the Suntory Group. Through collaboration with a wider range of partners, we aim to promote PET bottles as a sustainable packaging solution in Thailand and across Southeast Asia, contributing to the realization of a circular society and environmental impact reduction." Mr. Kenji Motoori, Director of Iwatani Corporation, added, "We are delighted to begin this initiative with the Suntory Group to advance the commercialization of FtoP technology in Thailand. Through our joint venture with Indorama Ventures, we will support this project by ensuring a stable supply of high-quality recycled PET preforms. We will continue to work closely with our partners to help realize a circular economy." Mr. Aloke Lohia, Group CEO of Indorama Ventures, said: "This collaboration reflects Indorama Ventures' commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond. By combining our integrated PET value chain with world-class recycling technology and strong industry partners, we are expanding our ability to deliver differentiated circular packaging solutions while reinforcing our downstream packaging platform. This partnership reflects our IVL 2.0 strategy of building market-leading businesses through focused partnerships, innovation and disciplined investment, creating lasting value for our customers, shareholders and other stakeholders." The project reflects the partners' shared commitment to advancing a more circular economy by increasing the use of recycled PET, improving resource efficiency and reducing dependence on fossil-based materials. Together, the partners are demonstrating how collaboration across the value chain can help accelerate the transition to more sustainable packaging solutions. Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
Indorama and Suntory to deploy direct PET recycling technology in Thailand. 19 August 2026 PET producer and recycler Indorama Ventures Limited (IVL) plans to introduce flake-to-preform (FtoP) technology developed by Suntory and its partners in Thailand, marking its first commercial deployment in Southeast Asia. The process produces PET preforms directly from recycled PET flakes. The project will be implemented through Indovida (Thailand), a joint venture between Indorama Ventures and Japanese industrial group Iwatani. Production is due to start in 2028, with Suntory PepsiCo Beverage Thailand set to receive the first preform deliveries. According to the partners, this will be the first commercial deployment of the technology in Southeast Asia... You can only use this article with a valid subscription and registration. Registered subscribers can access all articles after entering their user name and password. Related markets Article topics
PETValue Philippines targets zero waste from PET recycling process. July 27, 2026 Indorama Ventures' PETValue Philippines recycling facility has partnered with Republic Cement & Building Materials to reduce waste sent to landfill through a new Zero Waste to Landfill initiative. The partnership aims to recover materials from the PET recycling process that cannot be recycled into new packaging. PETValue Philippines, a joint venture (JV) between Indorama Ventures and Coca-Cola Europacific Aboitiz Philippines, is located in Cavite and recycles post-consumer PET bottles into food-grade rPET. As part of the initiative, caps and labels removed during recycling are recovered by Ecoloop, Republic Cement's resource recovery business. The materials are then co-processed as an alternative fuel in cement manufacturing. Pankaj Sinha, business head of recycling at IndoNova, the recycling arm of Indorama Ventures, said the partnership showed how collaboration could help recover additional value from materials throughout the recycling process. 'New ways to recover value' "At IndoNova, we believe circularity doesn't end when a bottle becomes a bottle again," he said. "We are continuously looking for new ways to recover value from every possible material throughout the recycling process." The collaboration combines PETValue Philippines' bottle-to-bottle recycling operations with Republic Cement's resource recovery capabilities to create a system for managing materials that cannot be recycled within the PET process. Angela Edralin-Valencia, director of Ecoloop, said: "We help our partners recover value from waste while reducing landfill dependency. This partnership with PETValue is a strong example of circularity in action." Indorama Ventures entered the recycling business in 2011 and has since recycled nearly 180 billion post-consumer PET bottles. It currently recycles more than 700 PET bottles every second. July 22, 2026 July 20, 2026 July 16, 2026 July 24, 2026 July 23, 2026 Sponsored content. Weekly news bulletin and monthly round-up