Hexpol targets thermoplastics for next growth wave with aggressive M&A

Swedish polymer group Hexpol on Tuesday announced a new strategy focused on acquisitions in the thermoplastics market to drive growth through 2030, setting new long-term financial targets.

The company is aiming for a compounded annual revenue growth rate of above 10%, including mergers and acquisitions, and an earnings per share compound annual growth rate of more than 10% for the 2026-2030 period.

Hexpol said it plans to raise its M&A agenda to build a broader thermoplastic portfolio and expand geographically.

"We see an opportunity to use our strong balance sheet and cash flow to do the same journey within the large Thermoplastics market as we have done within the relatively smaller Rubber Compounding market,” President and CEO Klas Dahlberg said in a statement.

To reflect the new focus, the company will begin reporting Thermoplastic Compounding as a separate business segment from the beginning of 2026.

The strategy announcement follows recent quarters where Hexpol has reported declining sales, particularly in North America, which it attributed to uncertainty surrounding trade tariffs.

Hexpol has historically grown its thermoplastics business through acquisitions, including the purchase of U.S.-based Star Thermoplastics in 2023.