Establishing European market leadership and creating the first recyclable thermoplastic foam
BEWi Group AB is one of the leading producers of expandable polystyrene (EPS) in Europe, bringing to market more than 10 million fish boxes every year, as well as EPS packaging for food, pharmaceuticals, e-commerce, automotive components, thermal insulation for the construction industry, raw material EPS beads, and much more. The Group holds market leadership positions for its solutions for Packaging & Components and Insulation in several European countries. By managing the entire chain from raw material to finished product, BEWi Group can close the loop and lead the change towards sustainability in the EPS business, with the aim of being the most CO2-efficient supplier of insulation, packaging and components, automotive and HVAC solutions. Since 2018, BEWi has executed five acquisitions through BEWi Circular to create a circular business model, successfully pioneering the EPS industry’s sustainability development with a goal of over 60 000 tonnes of EPS recycled annually.
Verdane acquired StyroChem, which was merged with BEWi in 2014, as part of a large portfolio transaction with Finland-based technology investor Eqvitec. The European EPS building & construction, protective packaging and food packaging markets were (and still are) expected to grow steadily, driven by factors that include population growth and rise of e-commerce. The EPS production market has high barriers to entry due to large investment requirements for initial establishment, a tradition of long-standing customer relationships, local footprint and broad nationwide coverage requirements and a need for large customers to enable sufficient scale.
BEWi launched the world’s first 100% recycled EPS in 2019, and aims to be the most CO2-efficient supplier of insulation, packaging and components, automotive and HVAC solutions.
During 2021, BEWi Circular expects to reach a recycling capacity of 60 000 tonnes of EPS annually, while leading the industry’s transition to a circular business model.