Asia Plastic Recycling Holding

What Asia Plastic Recycling Holding does

Asia Plastic Recycling Holding (F-再生, Taiwan Stock Exchange ticker 1337) is a publicly listed manufacturer of ethylene-vinyl acetate (EVA) copolymer foam materials, operating since the 1980s and headquartered at Jiangtou Industrial Zone in Jinjiang City, Fujian Province, China, with a representative office in Kaohsiung, Taiwan. The company runs a vertically integrated circular recycling operation: it collects post-industrial and post-consumer EVA and PE plastic waste — predominantly edge scraps from the footwear industry and discarded PE plastic bags — granulates them into recycled pellets, blends them with virgin EVA/LDPE resin at roughly 60/40 recycled-to-virgin ratio, and foam-extrudes the pellets into finished EVA foam sheet materials. Described as the largest EVA circular recycling industrialization base in mainland China, it processes more than 50,000 metric tons of waste plastic annually and operates 32 foam machines at its flagship Fujian plant, with a new Jiangsu facility under development.

The product portfolio covers EVA foam sheets for footwear midsoles and insoles, luggage and bag panels, mat materials, and a range of specialty variants including flame-retardant, anti-static, shock-absorption, high-elasticity, high-expansion, and rubber foam sheets. Approximately 300+ downstream manufacturers in mainland China serve as customers, primarily footwear, luggage, mat, and industrial foam component producers in the Jinjiang "Shoe Capital" ecosystem. Revenue is generated through B2B direct sales under quote-based pricing, with no public tiering disclosed. The company sells predominantly into the China domestic market, with planned expansion into Northern China and export markets (Japan, Korea, Russia) via the Jiangsu plant. It is founder-controlled under Chairman Ding Jinzhao (丁金造), with the CFO Xue Youwei (薛又瑋) serving as spokesperson. The company reported FY2011 revenue of TWD 5.152B (+22% YoY), Q1 2013 gross margin of 38.77%, and Q1 2014 revenue of TWD 1.218B (+26.8% YoY), with consistent 20-30% annual capacity expansion as the stated growth driver.

Name

Asia Plastic Recycling Holding

Legal name

亞洲塑膠再生資源控股有限公司

Website

https://asia-recycle.com

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Asia Plastic Recycling Holding (Taiwan Stock Exchange: 1337) manufactures EVA copolymer foam sheet materials from recycled plastic waste, serving over 300 downstream footwear, luggage, and industrial foam manufacturers primarily in mainland China, with expanded capacity underway in Jiangsu.

Ownership category

akta.pro rank

Product category

Recycled EVA Foam Materials

NAICS

Urethane and Other Foam Product (except Polystyrene) Manufacturing (32615), All Other Plastics Product Manufacturing (326199)

SIC

Miscellaneous Plastics Products (3080)

akta.pro primary industry

Recycled & Reprocessed Polymer Resin Manufacturing (rPET, rPP, rPE; PCR/PIR resins) (IMANAAAH)

akta.pro secondary industries

Mechanical Recycling (Wash, Grind, Pelletize) (EUAIAKAB), Recycled Plastic Compounds (PCR/PIR) (IMANABAE)

Keywords

• EVA foam materials
• Plastic recycling services
• Recycled foam sheets
• Circular plastic recycling
• Footwear foam manufacturing

Headquarters

HQ city

Kaohsiung

HQ country

Taiwan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. EVA Foam Material Sales: The company generates revenue primarily through the manufacture and sale of EVA foam sheet materials produced from recycled EVA/LDPE waste plastics. Products include EVA foam sheets for footwear midsoles/insoles, luggage and bag panels, mat materials, and industrial specialty foam sheets. The company operates as a manufacturer, converting waste raw materials into finished foam products sold to downstream manufacturers predominantly serving the China domestic market.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Asia Plastic Recycling Holding manufactures and sells ethylene-vinyl acetate (EVA) copolymer foam sheet materials produced from recycled EVA and PE plastic waste. Approximately 60% of feedstock comes from recycled post-industrial EVA/LDPE waste and the remaining 40% from virgin resin; the products serve downstream manufacturers of footwear midsoles/insoles, luggage and bag panels, mats, craft items, and industrial foam components, predominantly in mainland China.

Product overview

Asia Plastic Recycling Holding (Asia Plastic Recycling Holding Limited; 亞洲塑膠再生資源控股有限公司; stock code 1337 on the Taiwan Stock Exchange, formerly branded as F-亞塑 and now as F-再生) operates a vertically integrated recycling and manufacturing operation. The company recovers EVA and PE plastic waste materials and processes them into recycled plastic granules, which are then mixed with virgin EVA/LDPE materials and formed into EVA foam materials — the company's core product line. The product portfolio is organized around EVA copolymer foam sheet materials, including sub-categories such as EVA foam sheets for footwear, EVA foam sheets for luggage and bags, specialty sheets, general-purpose sheets, rubber foam, high-elasticity foam sheets, high-expansion foam, anti-static foam, flame-retardant foam, and shock-absorption foam. These foam materials serve diverse civil and industrial applications including functional shoe soles and insoles, luggage and bag linings, craft gifts, toys, sports equipment, vibration-damping materials, building HVAC insulation piping, and floor mats. The company operates production facilities in Fujian Province (Jinjiang) and Jiangsu Province, with an annual waste plastic processing capacity exceeding 50,000 metric tons and EVA foam production capacity of approximately 280,000–400,000 cubic meters.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Gross margin maintained at 36-40% through recycling cost advantage, significantly above industry average for EVA foam manufacturers using 100% virgin materials
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators11 records

Recent moves7 records

Expansion highlights4 records

Emerging players

• KW Plastics: U.S.-based recycled polypropylene and polyethylene compounder, one of the largest PCR producers in North America. Comparable to Asia Plastic Recycling as a recycled-content polymer compounder, though KW focuses on pellet resin sales rather than downstream foam extrusion and serves different geographic markets.

Direct peers

• INOAC Corporation: Japanese specialty foam manufacturer producing polyurethane, polyethylene, and EVA foams for automotive, footwear, and industrial applications. Comparable to Asia Plastic Recycling as a foam materials specialist serving footwear and industrial customers in Asia, with overlapping product categories in polyolefin foam.
• JSP Corporation: Japanese foam manufacturer (TSE:7942) producing expanded polypropylene and other polyolefin foams for automotive, packaging, and construction applications. Comparable to Asia Plastic Recycling as an Asian-based manufacturer of polyolefin-based foam products serving industrial end markets, with significant presence in footwear/automotive cushioning applications.

Broad incumbents

• Sekisui Chemical Co., Ltd. Japanese diversified materials company (TSE:4204) producing foam products, interlayer films, and plastic materials. Comparable to Asia Plastic Recycling as a manufacturer of polymer foam materials for industrial applications, though operates at much larger scale and across multiple product categories including construction and electronics.
• Recticel NV: Belgian foam products manufacturer (Euronext:REC) producing polyurethane foams for bedding, automotive, and industrial applications. Comparable to Asia Plastic Recycling as a specialty foam manufacturer, though focused on polyurethane rather than EVA and serving European end markets.
• Kaneka Corporation: Japanese chemical company (TSE:4118) producing specialty foam resins, PVC, and acrylic foam products. Comparable to Asia Plastic Recycling as a manufacturer of foam-related polymer materials and compounds, with overlap in vinyl acetate and EVA-based polymer products.
• Armacell International S.A. Luxembourg-based global leader in flexible elastomeric foams and engineered materials (PET foam core, ArmaFoam). Comparable to Asia Plastic Recycling as a manufacturer of foam products for industrial and specialty applications, though operates across a broader portfolio beyond recycled-content EVA foam.
• Formosa Plastics Corporation: Taiwanese petrochemical conglomerate (TWSE:1301) producing PVC, PE, and other olefin polymers at massive scale. Comparable to Asia Plastic Recycling as a Taiwanese-listed plastics/EVA producer, though significantly larger and focused on virgin resin production rather than recycled-content foam products.

Regional players

• USI Corporation: Taiwanese petrochemical company (TWSE:1304) producing LDPE, EVA, and other olefin polymers. Comparable to Asia Plastic Recycling as a Taiwanese-listed EVA/LDPE producer, though USI is an upstream virgin-resin manufacturer rather than a downstream foam products maker.
• Lotte Chemical Corporation: Korean petrochemical company (KRX:011170) producing PE, EVA, and other olefin polymers at scale. Comparable to Asia Plastic Recycling as an Asian EVA producer, though Lotte is a virgin-resin manufacturer at much larger scale and serves different geographic markets.

Market position

Strengths5 records

Weaknesses6 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/asia-plastic-recycling-holding-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asia Plastic Recycling Holding