IRPC Innovation Management Committee (IMC), chaired by the Senior Executive Vice President of Commercial and Marketing, oversees the Company’s innovation strategy. The IMC comprises executives from key functions, including Operations, Corporate Strategy Planning and Business Development, IRPC Innovation Center, Commercial and Marketing, and Accounting and Finance. The Committee plays a key role in overseeing a balanced innovation portfolio, including resource allocation (budget and personnel), applying structured processes to manage project risks, accelerate time-to-market, monitor portfolio performance, and manage Intellectual Property (IP). This integrated approach ensures that our innovation pipeline not only achieves strategic commercial outcomes but also effectively mitigates potential negative impacts while driving sustainable long-term growth.
- Innovation Development Governance and Framework
- Innovation Strategy and Target
- Product Innovation
- Open Innovation
Innovation Development Governance and Framework
At the core of IRPC’s innovation strategy, the IRPC Innovation Center serves as a dedicated R&D hub supporting the Company’s business and sustainability objectives. Guided by the mission to ‘Focus on leveraging knowledge and expertise to create innovation that generates sustainable value and revenue,’ the Center employs a dual-focus strategy: it drives ‘Core Uplift’ to strengthen growth in the core business, and it spearheads ‘Step Up & Beyond’ by exploring new opportunities beyond existing businesses. The Center also works closely with both internal and external partners to accelerate the commercialization of innovative products.
Innovation Strategy and Target
The Core Uplift strategy focuses on internal collaboration to develop Specialty Products from the core business, with the goal of increasing Specialty Product sales to 60% by 2030. This strategy targets five key industries: packaging, electronics, construction, automotive, and healthcare and hygiene. The implementation follows the innovation process (Stage & Gate) through a digital system (Innovation and Technology Management System: ITMS+) to support structured decision-making, monitor project progress, and align innovation projects with business objectives, leading to measurable outcomes. The strategic target to increase Specialty Product sales to 60% by 2030 is supported by an additional profit of 276 million Baht generated in 2025 from R&D projects.
The Step Up and Beyond strategy is dedicated to exploring new growth frontiers, often involving novel technologies and business models that are not yet familiar to IRPC. This high-potential strategy leverages our incubation center approach to systematically develop and prepare these innovations for commercialization. Given the inherent uncertainty, we conduct continuous technical and business validation using the Technology Readiness Level (TRL) and Business Readiness Level (BRL) frameworks throughout the process. The focus will be on regenerative agriculture, nano-carbon technology, healthcare and life sciences as well as protective coatings, with the ultimate objective of improving quality of life and creating sustainable value for society and stakeholders. The strategy integrates two key programs:
- De Novo Program: A research initiative focused on evaluating the technical feasibility and market potential of new ideas, culminating in the development of a lab-scale prototype.
- Sandbox Program: An incubation initiative designed to refine innovative ideas by creating field prototypes for testing in real-world business environments, fostering collaboration, experimentation, and ultimately transforming innovations into market-ready solutions or new business opportunities.
Through our robust ‘Outside-In’ process, we actively collaborate with external experts, strategic partners, joint ventures, and investments to accelerate the creation of new businesses and complement expertise gaps. Reflecting its high-risk nature, the Step Up & Beyond initiative delivered an additional profit of 13 million Baht in 2025.
Analytical and Laboratory Center (AL) including Characterization Lab plays a critical role as a technical cornerstone for both core operations and new research initiatives. The AL provides high-precision testing and characterization services that ensure product quality and streamline production processes through close collaboration with internal business units. Committed to world-class excellence, the AL continuously invests in cutting-edge instrumentation and a robust Laboratory Information Management System (LIMS), powered by a team of highly skilled professionals. The center maintains international standards with ISO/IEC 17025 accreditation, ensuring the reliability of laboratory operations.
Beyond supporting internal R&D and operational needs, the AL has expanded its technical footprint by providing specialized testing services to external organizations. In 2025, the AL generated revenue of 14 million Baht from external testing services. This external engagement not only generates additional income but also validates our analytical capabilities against global industry benchmarks.
R&D Effectiveness Performance
To systematically monitor the effectiveness of our innovation initiatives, IRPC employs a rigorous tracking process centered on the R&D Effectiveness Index. This metric evaluates the incremental contribution margin generated by new products within their first three years of commercialization relative to the R&D investment of the corresponding years.
This evaluation process involves continuous financial monitoring and performance benchmarking to ensure that innovation investments result in measurable commercial success. By implementing this structured tracking mechanism, IRPC ensures the efficient and optimal utilization of resources, confirming that our research and development activities are effectively translated into measurable commercial value and long-term sustainable growth.
Product Innovation
IRPC is dedicated to pushing the boundaries of R&D to deliver a portfolio of high-value, eco-friendly products that meet customer needs in alignment with global sustainability goals. By integrating an agile, cross-functional ecosystem, uniting marketing insights with production excellence, we have significantly accelerated our development cycles. Our continuous investment in world-class talent and advanced instrumentation ensures that IRPC remains at the forefront of the industry, delivering high-margin, competitive solutions that respond swiftly to the shifting economic and environmental landscape.
Innovative Anti-drip Additive for Plastic Pellets
The High Value-Added Anti-Drip Additive is an innovative plastic additive developed by IRPC to prevent plastic dripping when exposed to fire and enhance flame retardancy, applicable in the electrical, appliance, and automotive industries. IRPC is the first producer in Thailand, with patents filed in multiple countries, strengthening competitiveness and sustainability for the company, the country, and society. Developed using core-shell nanotechnology with Polytetrafluoroethylene (PTFE) free of Perfluorooctanoic Acid (PFOA), the product complies with RoHS (Restriction of Hazardous Substances) and REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) standards, ensuring environmental and health safety. This innovation has been extended to high-value protective paints and coatings under the IBIC brand, developed in collaboration with Beger Group, designed to withstand extreme weather and extend steel structure lifespans up to three times. These coatings are applied in oil refineries, petrochemical plants, airports, ports, and bridges. The innovation earned IRPC the Outstanding Innovative Company Award from SET and generated 16 million Baht in revenue in 2025
POLIMAXX High Impact Polystyrene: HG451
POLIMAXX High Impact Polystyrene (HIPS) pellet HG451 is a new product designed for cost competitiveness, offering high gloss, high mechanical strength, and high flowability for injection applications. It is particularly suitable for air conditioners, air purifiers, office automation, and household products. In 2025, the product achieved annual sales of 6,600 tons, generating 294 million Baht in revenue.
POLIMAXX Complex-molding high toughness SAN: 308PC
POLIMAXX SAN (Styrene Acrylonitrile) grade 308PC is designed for injection applications for disposable lighters in the domestic market. The 308PC plastic pellets have passed customer testing and offer outstanding toughness and strength, as well as easy and fast injection molding for complex mold designs. In 2025, the product achieved annual sales of 700 tons, generating 32 million Baht in revenue.
POLIMAXX PP for Paint pail: 2430M
High-performance POLIMAXX 2430M Polypropylene (PP) pellet is designed for paint pail applications, meeting required standards, particularly in terms of stiffness with impact properties. The product has passed customer testing and enables thinner wall injection molding, delivering added benefits to customers. In addition, 2430M can also be applied in pallet and container applications. In 2025, the product achieved annual sales of 13,460 tons, generating 428 million Baht in revenue.
Asphalt AC 60/70
Asphalt AC 60/70 is a commonly used asphalt grade in Thailand and a key material for road and pavement construction, providing strength, durability, and water resistance to prevent water infiltration into lower layers. IRPC currently markets AC 60/70 asphalt and has further enhanced its competitiveness through research and development focused on cost reduction, while ensuring the product continues to meet required quality standards. In 2025, this initiative has enabled the Company to reduce production costs up to 9.3 million Baht per year.
REINFOXX Micronutrient or “White Bear Fertilizer” and Soil Conditioner (Humic)
REINFOXX micronutrient fertilizers, also known as “White Bear Fertilizer,” are designed for foliar feeding and contain essential micronutrients suitable for all plant types. The products help boost plant growth, enhance plant strength, improve resistance to environmental conditions, and increase productivity. All products are developed using innovative technology, meet certified quality standards, and are environmentally friendly and safe for users. Humic soil conditioners are derived from natural organic matter produced through the decomposition of plant and animal residues. They help improve soil structure by enhancing nutrient absorption by plant roots and stimulating plant growth. In 2025, sales reached 21,215 liters, generating 8.45 million Baht in revenue, driven by the expansion of sales channels to new customers.
Photopolymer resin for 3D printing
3D Printing Photopolymer Resin is ideal for fast, high-precision model printing, particularly for replicating digital models of specific organs in dentistry and medical science, such as models for clear aligners/retainers, diagnostic models, and restorative models, offering high accuracy, ease of handling, and mechanical strength. The product achieved significant sales growth. In 2025, sales of 240 kilograms, generating 0.6 million Baht in revenue.
KleanTeQ Graphene Ink for Functional Fabric
KleanTeQ Graphene Ink is a water-based graphene ink made from high-quality graphene for coating fabric products, providing heat dissipation, far-infrared emissivity, antistatic properties, UV protection, antibacterial, and anti-odor benefits. IRPC collaborated with Healthcare Supply and Service Co., Ltd. (HSS) to conduct pre-market testing of the graphene ink and extended it into end products, including sportswear and lifestyle clothing under the Graphenix x KleanTeQ brand. In 2025, the graphene ink for fabric applications was sold for the first time in the pre-market phase, achieving 216 kilograms in sales and 1.3 million Baht in revenue.
Innovation Award
IRPC’s commitment to innovation and sustainability has earned significant recognition from esteemed organizations. In 2025, the Company received the Outstanding Innovative Company Award at the SET Awards for the development of a high-value fire-retardant additive using a PTFE/SAN core-shell composite. This innovation enhances fire safety performance and is applicable across several industries, including electrical appliances, automotive, and coatings. IRPC is the first company in Thailand to manufacture and commercialize this innovation and has filed patent applications in both domestic and international markets. This milestone reflects our competitiveness and our commitment to creating high value-added products that support sustainable economic and social development in Thailand.
Open Innovation
IRPC Innovation is a collaborative ecosystem that thrives on the synergy of diverse knowledge, experience, and creativity. To accelerate our R&D Product & Technology Roadmap, Open Innovation Management focuses on strategically connecting internal capabilities with global expertise. We foster robust partnerships with leading academic and research institutions (e.g., Vidyasirimedhi Institute of Science and Technology (VISTEC) and Chulalongkorn University) and actively seek co-creation opportunities with industry leaders such as PTT group and Healthcare Supply and Service (HSS) to expedite the development of products and solutions that create positive impacts on business, society, and the environment.
To maximize project potential and efficiency, IRPC actively pursues external funding, successfully matching capital from key national innovation bodies such as the Program Management Unit for Competitiveness Enhancement (PMUC). This strategy not only reduces development risks but also ensures alignment with national development priorities. To bridge the gap between lab-scale research and industrial success, we utilize advanced simulation tools for product scale-up, ensuring rapid commercialization and maintaining our competitive edge in the evolving global landscape.
