Polymax Thermoplastic Elastomers is American-owned, but the company saw its start thousands of miles away.
"The company began in China because it was the largest TPE market at the time and we continue to see robust demand within this market," a company spokesperson told PlasticsToday.
Since the establishment of the business in 2005 in China, Polymax TPE has designated a TPE Research and Development Center for Jiangsu Province and has become one of the top three TPE manufacturers in China, according to the company.
But TPE demand is increasing on a global basis. Global demand for TPEs is forecast to rise 5.5% per year to 5.8 million metric tons in 2017, valued at more than $20 billion, according to The Freedonia Group, a market research firm. Healthy growth will also be fueled by an improved economic outlook in North America and Western Europe, while advances in emerging countries will benefit from increased adoption of TPEs in place of competing materials.
As such, Polymax TPE decided to establish its second headquarters in North America.