In January 2020, MC entered the PET chemical recycling business (MC’s equity share: 34%) through an investment in Thai Shinkong Industry Corporation Ltd., which produces PET resins for beverage bottles.
PET is highly recyclable mono-material with a wide range of applications, including in food and beverage containers as well as in textiles, thanks to its excellent transparency, barrier properties, and well-established collection and recycling systems. As the transition to a circular economy progresses worldwide, we will expand our capacity for producing PET resins, for which demand is expected to grow in line with the shift towards mono-materials, and by introduce chemical recycling technologies*2 through our participation in the PET chemical recycling business with the aim of “Conserving and Effectively Utilizing Natural Capital”.
While environmental awareness in relation to plastics is heightening worldwide, plastics are highly functional basic materials that underpin sustainable economic development. In promoting its plastics business, MC aims to contribute to building a circular society by improving recycling rates and developing alternative materials.