2. Increase Proportion of High Value-added Products or specialty products to IRPC’s product portfolio with emphasis on high-growth products by introducing Cross Function, or Agile New Way of Working (ANT), to improve speed to market and respond to customers’ requirements. In 2021, the company’s product portfolio was weighted with 20% speciality products. The company has considered reorganizing product portfolio based on applicaiton so as to meet customers’ needs and to enter the markets to satisfy future demands for high value products as follows: • Medical and Hygiene where the main products, PP and PS, create the highest market value through the development of products, such as Meltblown, Spunbond, PP Medical Packaging, etc. • Automotive where PP, PP Compound, ABS and CCM, have the lion’s share in terms of highmarket value. At present, IRPC is enterping this market through partners with connection to the automotive industry, such as Mytex and IRPC A&L. • Electronic and Appliance This product group includes PP, ABS, CCM, SAN and GPPS. & HIPS, which belong to highly-competitive market. IRPC has worked hard to develop products that closely meet customers’ needs. • Construction HDPE Pipe and EPS products are required to meet international standards and customer services are a major factor in keeping existing customers and winning over new ones. • Others Products in this group include UHMWPE and ZnO, which have been developed into high value-added, premium products. Focus is on the strategy of entering the market as a new player backed by brand awareness campaign and high quality standards. 3. Ultra Clean Fuel (UCF) Project To produce Euro 5-compliant diesel meet the government-imposed emission standards as well as to improve IRPC’s competitiveness in domestic and foreign markets that require higher quality diesel. The Board of Directors has approved the Final Investment Decision (FID) in July 2021. The project is currently under construction and expected to be completed in the first quarter of 2024. 4. Non-woven fabric production project (Nonwovens) IRPC has established Innopolymed, a joint venture between the company holding 60% stake and Innobic (Asia) with 40%, to build a non-woven fabrics factory, to enter the Medical Consumables market. The factory is expected to be operational in the second quarter of 2022. 94 IRPC PUBLIC COMPANY LIMITED 56-1 ONE REPORT 2021
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