1. USA BOPET line ramp-up - The second BOPET film line at the USA facility, commissioned in March 2025, added 50,000 MTPA of thin film capacity, making Polyplex the largest and most cost-competitive producer of thin BOPET films in the US. Excluding this new line, overall capacity utilization was 94% in FY26, so incremental volumes as it ramps up flow almost directly to revenue and margin recovery.
2. D-PAC specialty portfolio expansion - D-PAC volumes reached 108 KMT in FY26, generating $87 million in incremental EBITDA at $0.81/kg, even as standard film EBITDA fell to -$22 million. Continued portfolio expansion and repurposing of older lines for specialty production are expected to support margin improvement.
3. Ex-China capacity utilization recovery - Global thin BOPET capacity ex-China is expected to remain flat at approximately 4,000 KTPA from 2026E through 2030E while demand grows at 5-6% annually, tightening the market. Polyplex's 94% utilization on legacy lines already reflects this tightness, and minimal new ex-China supply means pricing power should improve as demand absorbs the remaining slack.
4. EcoBlue recycled-content platform - EcoBlue operates 49,200 TPA of food-grade rPET capacity and 10,500 TPA of polyolefin recycling capacity, with US FDA, EFSA, and Thai FDA approvals already secured. Sarafil rPET films with up to 100% PCR content are now manufactured across four countries, positioning Polyplex ahead of tightening recycled-content mandates in its major markets.