In the coming years, SET-listed IRPC Plc will continue to focus on speciality petroleum and petrochemical products to avoid the high competitiveness of commodity-grade products on the global market.
Senior Executive Vice President of Corporate Accounting and Finance Nidcha Jirametthanakij said specialized polymers are being marketed as Asia's new wave of petrochemical goods.
Such goods have strong potential in the face of the current trade war between the United States and China.
"IRPC wants to earn more revenue and profit from specialized polymers than commodity-grade polymers, the prices of which rely on the global market," Nidcha said.
IRPC wants to highlight the consumer and make high-value polymers meet every customer's needs.
"The business should sell custom-made polymers, but teams of marketing and development have to work together to promote purchase orders," said Nidcha.
"This strategy will increase customer satisfaction, and the products may be out of competition with other commodity-grade goods." The trade war between the world's two largest economies has caused IRPC to accelerate its policy on ultra-high-molecular-weight polyethylene.
This compound of polyethylene has several unique properties, such as strong abrasion resistance, damage tolerance and low friction, rendering it ideal for cement, anti-chlorine tubes, naval containers, machine parts, floating solar panel systems and lithium battery pieces.
IRPC will also apply creativity in petroleum products; asphalt bitumen class 40/50 is a recent success in making roads cleaner.
The product has already received Highways Department certification. Last month was shipped the first shipment of fresh asphalt to pave and repair Rama II Route.
Mrs Nidcha said that speciality polymers make up 55% of the net profit of IRPC. It is expected that the figure will rise to 60% in 2020.
Tags : Mrs Nidcha, IRPC, petrochemical products, petroleum,