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Several occurrences over the years, such as the COVID-19 pandemic, increased concerns about global warming, and plastic waste issues, have prompted many countries to establish policies to minimize greenhouse gas emissions and implement more precise plastic waste management measures. SCGC has accelerated its business strategies to respond swiftly and sustainably to market changes. This allows it to mitigate short-term impacts on business operations while simultaneously developing chemicals technology development that covers long-term HVA products and solutions compatible with the new normal lifestyle, sustainable business operations, sustainability trends, environmental trends and mega trends. All are carried out with the following five key strategies.
SCGC has developed the potential for continuing growth in ASEAN with the aim of expanding investments and chemicals technology development in Thailand and ASEAN, particularly in Vietnam and Indonesia, where polymer demand remains continuously high. Long Son Petrochemicals Company Limited (LSP), a subsidiary of SCGC with a 99% stake valued at USD 5 billion, is expected to commence commercial operations in the first quarter of 2023.
For Indonesia, SCGCs is the second-largest shareholder of PT Chandra Asri Petro-chemical Tbk (CAP), with a 30.57% stake. It is Indonesia's sole petrochemical complex. CAP's current total assets are esti-mated to be USD 4.59 billion.
SCGC has expanded and improved integration in the vinyl business to accelerate its leadership in vinyl production in ASEAN and meet the demands of a constantly expanding market. It also enhances the reliability of feedstock sourcing and cost competitiveness.
SCGC aspires to be a leader in sustainable business development to manufacture more sustainable polymers and seek to cut greenhouse gas emissions by 20% by 2030. (compared to the base year of 2021). In the same year, SCGC will raise its annual sales of green polymers under the brand SCGC GREEN POLYMER™ to 1 million tons to meet the four fundamental components of the circular economy, which aligns with sustainability trends, environmental trends and mega trends.
Reduce
Recyclable
Recycle
Renewable
SCGC accelerates chemicals technology development and the growth rate of HVA (High Value-Added Products and Services) with a focus on uniqueness and competitiveness to increase profitability and generate new growth prospects. Key industries with high growth in focus are packaging, health and wellness, automotive, infrastructure, and energy solutions. To accomplish this, SCGC has engaged in research and development to create innovations from internal staff members and open innovation in the form of partnerships with external research and development partners, including educational institutions and top-tier research institutes.
SCGC has embraced digital technologies such as artificial intelligence (AI) and machine learning to boost operational and production efficiency, which is essential in increasing competitiveness and meeting consumer needs with greater timeliness and accuracy. This is also in tandem with sustainability trends, environmental trends and mega trends.
To meet rising demands in ASEAN and global markets with more diverse needs, SCGC continues to expand its manu-facturing bases outside Thailand into ASEAN countries such as Vietnam and Indonesia. Plastics, in particular, are an example of a chemical innova-tion that not only satisfies application needs and supports changing lifestyles but also enhances people's quality of life and opens up a world of endless possibilities.
As a result, we concentrate on creating HVA or High Value Added Products and Services, focusing on 5 key industries with strong growth rates: packaging, health and wellness, automotive, infrastructure, and energy solutions. All of which are in line with global mega trends, sustainability trends and environmental trends.
Urbanization Expansion and Social Development
As the leading innovation company in petrochemicals, SCGC innovates and develops chemical innovations and solutions to accommodate the growth of infrastructure construction in the manufacturing and hospitality industries, which aligns with mega trends.
Entering the Aging Society
An increase in the middle-class and senior population has resulted in greater attention to health and wellbeing. SCGC innovates and develops chemical innovations and solutions as well as technology development in chemicals to address the demands of proactive prevention.
Health and Wellbeing
SCGC innovates and develops chemical innovations in the field of health and wellbeing to meet the needs of improving everyone's quality of life in the future and to boost the country's economic competitiveness.
Resource Scarcity
The growing global population has generated an imbalanced usage of natural resources, resulting in the continuing depletion of natural resources. SCGC places a high value on creating and developing chemical innovations and solutions as well as technology development in chemicals that promote the circular economy concept.
Climate Change
In addition to its firm commitment to cutting greenhouse gas emissions by 20% by 2030, SCGC is also creating chemical innovations and solutions as well as technology development in chemicals to boost the use of clean energy and renewable energy sources.
