Description- Indorama Ventures, Suntory, and Iwatani are set to introduce FtoP recycling technology in Thailand. It will help the company convert recycled PET bottles into preforms.
In August 2026, Inovida, Indorama Ventures’ packaging business segment, has partnered with Suntory Holdings, Iwatani Corporation, and Suntory PepsiCo Beverage (Thailand), a beverage joint venture formed between Suntory Beverage & Food and PepsiCo, to introduce commercial-scale circular PET packaging in Thailand.
Indorama Ventures and Iwatani Corporation’s joint venture, named Indovida (Thailand), will bring Flake-to-Preform (FtoP) Direct Recycling Technology to the Southeast Asian nation. The main aim of this venture is to enhance Indorama Ventures’ downstream packaging platform efficiently. The company, in one of its statements, mentioned, “FtoP brings a new recycling technology to Thailand, allowing recycled PET bottles to be turned directly into preforms. For Thailand, this is significant because it is the first commercial use of the technology in Southeast Asia.”
“It shows that Thailand can be an early adopter of new circular packaging technologies when companies across the value chain work together. We also see this project as a strong foundation for exploring further opportunities in Thailand and the wider region.”
Aloke Lohia, Group CEO at Indorama Ventures, mainly focuses on the fact that the company is expanding its ability to deliver differentiated circular packaging solutions along with reinforcing its downstream packaging platform. “This partnership reflects our IVL 2.0 strategy of building businesses through focused partnerships, innovation, and disciplined investment, creating lasting value for our customers, shareholders, and other stakeholders,” he comments.
Indorama Ventures also mentions that one of the biggest challenges for new technologies is finding the first customer willing to adopt it. “In our case, close collaboration between Suntory, Suntory PepsiCo Beverage Thailand, Indorama Ventures, and Iwatani has been important in bringing the technology from Japan into a commercial application in Thailand. Each partner brings a different capability, and that combination has helped make the project possible.”
The patented FtoP technology is jointly developed by Suntory and the three partner companies, involving Japanese recycling firm Kyoei Industry as well. As per these companies, the solution allows PET preforms to be manufactured directly from recycled PET bottles, strengthening recycling efficiency along with lowering environmental impact.
Jun Asaki, chief sustainability officer at Suntory Holdings, says: “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.”
Earlier in 2026, Thailand had announced measures to accelerate plastic recycling as the US-Iran war interrupted the flow of petrochemical feedstocks. The joint venture of all three companies is expected to produce recycled PET preforms equivalent to approximately 400 million PET bottles annually. The preforms will be supplied to Suntory PepsiCo Beverage Thailand in 2028, making it the first commercial customer for Indorama Ventures to use the recycled PET preforms produced through the project.
Kenji Motoori, director of Iwatani Corporation, comments, “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.”
Indorama Ventures Public Limited Company (IVL) is a global chemical producer headquartered in Bangkok, Thailand. It is known as the world’s largest producer of polyethylene terephthalate (PET) resin and a leading global manufacturer in sustainable chemistry, serving industries like packaging, hygiene, and automotive. The company has operations across more than 30 countries with over 110 manufacturing locations. The company supplies vital synthetic fibers and yarns for apparel, home textiles, and automotive applications as well. It also focuses on specialty chemical solutions serving home care, personal care, and crop solutions.
Suntory Holdings Limited is a major Japanese multinational brewing and distilling company founded in 1899, headquartered in Osaka, Japan. The company is renowned for pioneering Japanese whiskey and expanding globally through major acquisitions like Beam Inc. The company’s major product portfolio highlights different types of whisky and spirits, beer and wine, and also soft drinks and beverages.
Iwatani Corporation is a major energy and industrial gas supplier. It holds the number-one market share in Japan for liquefied petroleum gas, hydrogen, and helium. The company is also widely known for its portable cassette gas stoves, household propane gas, and clean energy tech as well.
28 August 2026
28 August 2026
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