Toray Plastics Plans to Expand Polyolefin Foams Facility at Warren County

United States: Toray Plastics (America), Inc., a subsidiary of Tokyo based Toray Industries, Inc., is a global leader in manufacturing films, synthetic fibers and textiles, carbon fibers, plastics, chemicals, and pharmaceuticals. Toray Plastics (America), Inc. has decided to spend USD45 million for extending Front Royal facility in Warren County and expand its polyolefin foam division with help and support from Virginia Economic Development Partnership. The new facility is expected to create 30 new jobs over the coming years. Post completion, Virginia Jobs Investment Program (VJIP) promises to offer funding and services for employee training sessions. The company currently comprises of the Torayfan® Polypropylene Film and Lumirror® Polyester Film Divisions, in North Kingstown, Rhode Island, and is planning to expand the Toraypef® Olefin Foams Division, in Front Royal, Virginia. The facility will magnify the Polyolefin foam manufacturing capacity of Toray Plastics (America), Inc. The capacity expansion to Warren County is a strategic decision of Toray Plastics (America), Inc. to utilize magnificent work environment of Virginia to grow and succeed.

TechSci Research depicts that the facility expansion in Warren County, Virginia would help Toray Plastics (America) Inc. in meeting the increasing demand of its customers, thus resulting in improved customer relationship. Expansion of the existing polyolefins facility would enable the company to cater the growing demand for plastics and films for packaging and automotive applications. Consequently, growing packaging industry is expected to result in augmented demand for masterbatch across the globe.

According to the recently published report by TechSci Research, “Global Masterbatch Market By Type, By End User, By Region, Competition Forecast and Opportunities, 2011 - 2021”, global masterbatch market size is estimated to cross USD16 billion in 2016. Growth in the market is anticipated on account of continuously increasing demand from major end use industries, such as packaging, food processing, building & construction, and automotive industries. Moreover, masterbatch consumption in packaging has increased significantly due to rising popularity of small pack sizes, expanding sales and distribution network of plastic processors and plastic products, as well as growing use of flexible packaging market.