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Product Innovation

In the past year, GC has conducted new product R&D projects and upgraded the properties of existing products by collaborating on R&D with customers in the Convertor group as well as manufacturers and brand owners through the Ideation Workshop with strategic customers. In 2024, 80 projects were in the product development phase and 20 products began commercial production. The InnoPlus Solution Center has been established to serve as the focal point for product R&D, from product design, molding, through to testing in line with international production standards, in an effort to cater to customer demands in a comprehensive manner. Examples of key projects include Industrial Stretch Film New Resin, HDPE for Medium Tenacity Monofilament, PCR PET & Virgin PET Dry-blending, as well as other projects with focus on cutting-edge and sustainable innovations. In addition to raising the industry’s production standards, these products are also applicable to various industries. Such endeavors reflect GC’s commitment to create products that answer to market demands and contribute sustainable positive impacts to the economy, society and environment. GC has also carried out numerous other projects that aim to propose cutting-edge and sustainable innovations. Furthermore, GC has established a pilot plant to support the development of this new resin, placing emphasis on innovation development through R&D. GC’s new product was launched in 2025 and is expected to generate a revenue of no less than 550 million baht per year

The Examples of the current development of product innovation are as follows:

MDOPE Film for Mono material packaging

Amid the growing global emphasis on sustainability across industries, mono-material flexible packaging that is easily recyclable has become one of the primary challenges in the plastics sector. This is due to the need to develop materials with properties such as clarity, strength, and performance comparable to traditional multi-material packaging.

GC has addressed this challenge by developing the innovative Innoplus by GC PE plastic pellets in conjunction with MDOPE (Machine Direction Orientation Polyethylene) film solutions. This involves integrating Machine Direction Orientation (MDO) technology with comprehensive formula and film structure design, spanning from analyzing user requirements, raw material development, to real-world production testing in collaboration with customers.

The resulting MDOPE film offers clarity, strength, and performance capable of replacing traditional multi-layer films, while helping to reduce waste, enhance production efficiency, and support applications in Mono Material PE packaging (MDOPE//PE) across various categories, such as food and beverage packaging, as well as home and personal care products like shower gels and shampoos.

This innovation generates commercial value through various grades of Innoplus by GC PE products, such as LL7905AM, LL7905AO, HD4000F, and LL7610A, among others. It supports market expansion opportunities both domestically and in countries with increasing demand for sustainable packaging, with a first-year sales plan of 860 tons, projected average annual growth of 7%, anticipated revenue in year 4 of approximately 90 million baht, and EBITDA in year 4 of about 18 million baht

Additionally, this innovation reflects GC's commitment to developing sustainable packaging solutions in collaboration with partners throughout the value chain, aiming to create comprehensive benefits for customers, society, and all stakeholders.

C6 Rotomolding grade with UV 20

GC has innovated, researched, and developed plastic pellets under the grades InnoPlus LL9650U2 and LL9650U2P, designed specifically for rotational-molding processes. These products have been enhanced with improved properties to better meet application needs, particularly in terms of strength, durability, and safety in use. The newly developed products help enhance and optimize customers' molding processes, including faster product formation, energy savings, reduced issues or risks in demolding, and improved aesthetics and surface quality by effectively minimizing rough textures and porosity. Additionally, the material offers excellent impact resistance and durability in environmental conditions and UV exposure, thanks to the UV20 formula development, making it suitable for both general and outdoor applications. Examples include water tanks, chemical storage tanks, playground equipment, and general packaging—all of which require environmental resilience and appropriate durability.

The Company began commercial sales of these products in May 2025. This product not only meets customer demands in terms of quality and production efficiency but also creates new business opportunities both domestically and internationally. It generated first-year sales of approximately 3,400 tons, with a targeted annual growth rate of 2%, projected revenue in year 4 of about 14.11 million baht, and EBITDA in year 4 of approximately 7.54 million baht.

PCR PET & Virgin PET Dry-blending

GC has worked in collaboration with Post Consumer Recycled Resin PET (PCR PET) companies to provide a solution for customers who demand products containing 30% PCR PET and pure PET (100%). This project has been conducted with the objective to support market opportunities for PCR PET in Thailand, where consumers and customers currently require 20-30% PCR PET in packaging materials. GC anticipates that this product will generate a revenue 108 million baht per year. It will also accelerate PCR PET market growth to accommodate ENVICCO’s production capacity expansion and build future cooperation with other business sectors.