"The bioplastic market is believed to grow at 10 to 15% year on year, and the engine of this growth is the replacement of petrochemical-based plastics."
GLOBAL COMMERCIAL HEAD, CHEMICAL BU, THERMAX LIMITED
"We aim to make our products affordable and accessible to customers in SEA by partnering with local distributors, except in Indonesia, where we will employ a direct market strategy, given the similarity in customer buying behaviors to India."
"We are following closely the evolution of sustainability policies in the region, as more governments become more aware of sustainability imperatives."
"Among our customers, we note a heightened awareness of preventative safety practices. Also, OURAY see a lot of growth in those exceedingly hazardous chemicals such as fluoridated and brominated materials."
"Our push towards sustainability is the common theme of all investments. We want to create a global network of integrated businesses with multiple synergies."
FOUNDER AND GROUP CEO, INDORAMA VENTURES PUBLIC COMPANY LIMITED (IVL)
"Despite being the largest PET producer globally, Indorama Ventures only captures about 1% of a very fragmented market, which is worth about US$2 trillion. There is plenty of room for growth."
"Our main goals over the next year are to deliver smart and profitable growth in solution and specialties, prepare our sites for the next investments, and advance our roadmap to becoming fully circular."
The Latin America Petrochemicals and Chemicals 2024 report, produced in alliance with APLA, explores the current state of these industries, the challenges they face, and the opportunities they offer.