BUSINESS OPPORTUNITY
Solvent recycling, which falls under the country’s bio-, circular and green (BCG) economic development scheme, should continue to grow because of its environmental and financial benefits, he said.
BCG, which was declared a national agenda item in 2021, encourages manufacturers to adopt techniques that can add value to their products with minimal impact on the environment.
Not only does solvent recycling have the potential to help Thailand achieve its carbon neutrality target, a balance between carbon dioxide emissions and absorption, by 2050, but it can also help factories save on costs, said Mr Siamnat.
“We help our customers save 30-40% on expenses because they don’t need to buy new solvents,” he said.
“They get recycled solvents with 99% purity for use, similar to new solvents, at cheaper prices.”
The cost savings is expected to draw more customers, especially those facing tough competition in the market, said Mr Siamnat.
Sun-up Recycling expects its revenue to grow more than 10% this year.
The company focuses on customers in the middle and high-end markets, especially in the automotive and electronic industries, he said.
For the long term, Sun-up Recycling wants to expand its business into Vietnam and the Philippines, as the two countries serve as important production bases in Southeast Asia.
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