Indorama Ventures Partners with Suntory to Introduce Circular PET Preforms in Thailand

According to company reports, Indorama Ventures Public Company Limited (IVL), through its packaging business segment Indovida, has partnered with Suntory Holdings, Suntory PepsiCo Beverage (Thailand) and Iwatani Corporation to introduce commercial-scale circular PET packaging in Thailand. The project will deploy Flake-to-Preform (FtoP) Direct Recycling Technology and is expected to produce recycled PET preforms equivalent to approximately 400 million PET bottles annually.

The technology will be introduced through Indovida (Thailand) Limited, a joint venture between Indorama Ventures and Iwatani. Developed jointly by Suntory and three partners, including Japanese recycling company Kyoei Industry, the patented FtoP process allows recycled PET bottles to be converted directly into PET preforms, eliminating intermediate processing steps and improving material efficiency.

The project represents the first commercial deployment of FtoP technology in Southeast Asia. Production is scheduled t o begin ahead of supply to Suntory PepsiCo Beverage Thailand in 2028, which will become the project's first commercial customer.

Under the partnership, the companies will combine capabilities across the PET packaging value chain. Indorama Ventures will contribute its expertise in PET, recycled PET and packaging manufacturing, while Suntory will provide the FtoP technology and implementation experience developed in Japan. Iwatani will contribute industrial expertise and its longstanding relationship with Suntory.

For Indorama Ventures, the project expands its downstream packaging activities in Thailand while adding direct recycling capabilities to its existing PET and recycled PET operations. The company said the joint venture could also provide a platform for exploring similar circular packaging opportunities elsewhere in Southeast Asia.

“This collaboration reflects Indorama Ventures’ commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond,” said Aloke Lohia, Group CEO of Indorama Ventures. He said the partnership combines the company’s integrated PET value chain with recycling technology and industry partners under its IVL 2.0 strategy.

Jun Asaki, Chief Sustainability Officer of Suntory Holdings, said the introduction of FtoP technology in Thailand would support the company’s efforts to expand the use of sustainable PET bottles and develop a circular packaging system in Thailand and Southeast Asia.

Kenji Motoori, Director of Iwatani Corporation, said the company would work with its partners to support stable supplies of recycled PET preforms as the technology moves toward commercialization.

The project is intended to increase the use of recycled PET and reduce reliance on fossil-based virgin materials. Commercial production is expected to start in 2028, with annual output equivalent to about 400 million PET bottles.

Source: Indorama Ventures

SUNSHINE Spotlight: Indorama Ventures and its partners will bring direct recycled-PET-to-preform production to Thailand, adding approximately 400 million bottle-equivalent capacity annually from 2028.