Indorama Ventures expands circular PET packaging in Thailand with 400M bottle FtoP recycling partnership

THAILAND – Indorama Ventures has formed a strategic packaging partnership with Suntory Holdings, Iwatani Corporation and Suntory PepsiCo Beverage Thailand to introduce Flake-to-Preform™ Direct Recycling Technology to Thailand, with an annual production capacity equivalent to approximately 400 million PET bottles from 2028.

The patented FtoP technology, jointly developed by Suntory and three partner companies including Japanese recycling firm Kyoei Industry Co., Ltd., enables PET preforms to be manufactured directly from recycled PET bottles, improving recycling efficiency while reducing environmental impact. 

The technology is estimated to reduce CO₂ emissions by approximately 70 percent compared with bottles made from virgin fossil-based materials. 

Technology Deployment and Production Capacity

The FtoP technology eliminates certain processes required in conventional PET bottle recycling, such as crystallization and drying, streamlining the recycling process. 

Suntory collaborated with equipment manufacturers NGR (Next Generation Recyclingmaschinen GmbH) and Husky Technologies to optimize the technology for Thailand’s PET bottle recycling conditions, enabling direct conversion of recycled PET flakes of varying quality into high-quality preforms while maintaining standards achieved in Japan.

The project marks the first commercial deployment of the technology in Southeast Asia. Beginning in 2028, the recycled PET preforms will be supplied to Suntory PepsiCo Beverage Thailand for introduction into products sold in the country.

Value Chain Integration and Strategic Significance

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. Jun Asaki, Chief Sustainability Officer of Suntory Holdings, stated that the introduction of FtoP technology in Thailand represents a significant step forward in expanding sustainable PET bottle adoption, with the aim of promoting PET bottles as a sustainable packaging solution across Southeast Asia. 

Aloke Lohia, Group CEO of Indorama Ventures, noted that the collaboration reflects the company’s IVL 2.0 strategy of building market-leading businesses through focused partnerships, innovation and disciplined investment, creating lasting value for customers and shareholders. 

Suntory Group aims to use recycled or bio-based materials for all its PET bottles globally by 2030, eliminating the use of newly produced virgin fossil-based materials, with the Thailand project advancing this commitment.

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