PolyMax TPE, a custom TPE compounder and manufacturer of thermoplastic elastomers has announced a significant expansion of its production capacity, with an equipment investment of more than USD 1.5 million in July 2019. The company said that it is experiencing accelerated growth rates, exceeding forecasted figures, in response to high market demand for its custom TPE technologies and proven customer-centric service models. In addition to increased capabilities, the company will be adding additional employees to operate the new material production line.
“This new line was a necessity to ensure that our team continues to meet our standards and the demands of our customers,” said Tom Castile, vice president of sales at PolyMax TPE. He continues, “Our recent expansion has almost doubled our total capacity and we now have the ability to produce approximately 18 million pounds of material.”
TPE demand is not planned to slow down anytime soon, as new and current customer programs are forecasted to continue to increase. Applications in food packaging, automotive and industrial industries are the leading market segments that are predicted to propel growth. The promising projections in the TPE market has PolyMax TPE already planning their next expansion to match the expected rise.
“There are new technologies in development that are expected to contribute to a continued increase of demand,” said Castile. “To make sure that we can continue to provide the same quality of service, we already have plans to add another smaller material production line in the 4th quarter this year and are watching material demands closely to determine the scale and location of the next large production capacity expansion.”