At Indorama Ventures, we believe that recycled PET (rPET) is a new engine for growth. We understand that there is considerable pressure on plastics and that many people around the world want a sustainable environment for future generations. Amid the challenges, there are also tremendous opportunities with PET, which is a 100 % circular, recyclable plastic with a lower carbon footprint than other packaging materials such as glass and aluminum.
In 2011, with the acquisition of Wellman International, IVL began recycling PET bottles, producing clean PET flake to be used in fibre, sheet and bottle applications. Since then, IVL has added PET bottle recycling capacity in Mexico, USA, and Thailand. We were also one of the pioneers in the PET resin business to add recycled PET flake into our virgin polymerization process allowing us to efficiently create PET resin with up to 30% recycled content.
The PET resin produced by IVL is 100% recyclable. In2019, we made a global commitment to the Ellen MacArthur Doundation, to incorporate 750,000 tons of recycled PET materials as a feedstock into our polyester production by 2025. This commitment is just the start of our journey to generate value from the collection and recycling of PET and substituting virgin materials with recycled materials across our supply chain.
Recyclable PET Life Cycle
While the issue of plastic pollution has become a major emerging risk and ecological concern for the industry, it also presents a significant opportunity. IVL has been active in PET recycling and is a leading recycler in Europe, North America and Asia. It has been continuously exploring the opportunities to increase recycled product offerings, expanding the business. “PET – Recycling – The renaissance to reduce PET plastic waste going to nature, and preserve natural resources.”
In 2018, the company became actively engaged, with the EU government’s effort to reduce plastic waste as part of the Single Use Plastic Directive, and in addition engaged with several NGO’s to help promote the Circular Economy. An example of an NGO we are working with early on is the Ellen MacArthur Foundation. IVL is involved in the Ellen MacArthur “New Plastics Economy Global Commitment” in collaboration with the United Nations Environment Program towards a vision of a circular economy for sustainable plastics.
PET will continue in its tradition at the forefront of the recycling of plastic waste, bearing the standard for circular processing business models. Over the past two years, Indorama Ventures has also undertaken two chemical recycling initiatives with selected partners. Chemical recycling allows for the recycling of lower-quality, hard to recycle, post-consumer PET to virgin-grade resin. Through a collaboration in Europe, in 2019 it is envisaged that IVL will take reclaimed monomers generated from the company IONIQA, to combine with traditional feedstock to make virgin-grade PET with recycle content. This will exhibit the circularity of PET by generating new from post-consumer waste. A joint venture with Loop Industries will also break down PET polymer from post-consumer waste and make new 100% virgin-grade rPET.
Recycling of Post-Consumer PET Bottles
Around 47 billion bottlesare recycledfrom 2011 - 2019
Apart of our recycling business, we have also initiated many projects concerning to the environment issues. We have run the educational projects on waste segregation, motivation on upcycling and the raise of awareness in 3R.