Armacell to Construct New Manufacturing Facility in Bahrain
Armacell is planning to invest USD16 million in the construction of new
manufacturing facility in Bahrain.
Bahrain: Armacell
International S.A., a Germany based flexible foam manufacturer and a leading
provider of high-performance engineered foams, is planning to build a new
manufacturing facility at the Bahrain International Investment Park (BIIP),
with an investment of USD16 million. The new plant would produce elastomeric
rubber insulation for the Heating, Ventilation and Air-Conditioning (HVAC)
market in the GCC and Africa region. The new manufacturing facility is expected
to generate over 100 jobs in the region within the first 3 years of
commencement of its operations. As per Zayed Al Zayani, Bahrain's Minister of
Industry, Commerce and Tourism, Armacell’s new initiative will leverage the
company’s business model and would help the company to develop among the business-friendly environment of Bahrain.
TechSci Research depicts that this new manufacturing plant would further help Armacell
to strengthen its position as well as enhance its customer base and product
offering in GCC region. With production facilities of Armacell spread across
Asia-Pacific countries including China, Thailand, India and South Korea, the
company’s new venture would enable the company to cater to the growing demand
for thermoplastic elastomers in the developing economies of the region, such as
India and China.
According
to the recently published report by TechSci
Research, “India
Thermoplastic Elastomers Market By Type, By
End Use Application, Competition Forecast & Opportunities, 2011-2025”, the market of
thermoplastic elastomers in India is anticipated to grow at a CAGR of around 7%
during 2016 – 2025. Styrenic Block Copolymers dominated India thermoplastic
elastomers market in 2015, and the segment is expected to continue dominating
the market through 2025 owing to its wide range of applications in various
industries, ranging from automotive to consumer durables. During the forecast
period, automotive industry is expected to emerge as the largest end user of
TPEs in India, on account of increasing consumer preference for high performance
and lightweight automobiles in the country. A major share in the demand for
thermoplastic elastomers emanates from Tamil Nadu, Maharashtra, National
Capital Region (NCR), Gujarat, Karnataka and Andhra Pradesh, among others.