Myers Industries, Inc. Market Research Report

Background

Company Overview

Myers Industries, Inc., established in 1933, is a leading manufacturer of polymer-based material handling products and a prominent distributor of tools, equipment, and supplies for the tire, wheel, and under-vehicle service industry. The company operates through two primary segments: Material Handling and Distribution. Headquartered in Akron, Ohio, Myers Industries serves a diverse range of industries, including agriculture, automotive, construction, and more.

Mission and Vision

Myers Industries is committed to delivering innovative and sustainable solutions that enhance productivity and safety across various industries. The company's vision is to transform the way it grows and innovates to provide the best solutions for its customers.

Industry Significance

With over 90 years of experience, Myers Industries has established itself as a significant player in the material handling and distribution sectors. Its extensive product portfolio and strategic acquisitions have enabled the company to maintain a strong market presence and cater to a wide array of customer needs.

Key Strategic Focus

Core Objectives

Myers Industries focuses on enhancing operational efficiency, expanding its product offerings, and strengthening customer relationships. The company aims to achieve sustainable growth through strategic acquisitions and continuous innovation.

Areas of Specialization

• Material Handling Segment: Designs, manufactures, and markets a variety of plastic and metal products, including reusable material handling containers, small parts storage bins, and portable fuel tanks.

• Distribution Segment: Distributes tools, equipment, and supplies for tire, wheel, and under-vehicle service, serving independent tire dealers, mass merchandisers, and commercial auto and truck fleets.

Key Technologies Utilized

The company employs advanced manufacturing techniques, including rotational molding and thermoforming, to produce high-quality plastic products. Additionally, Myers Industries utilizes a mobile app-based system for inventory management and streamlined ordering in its distribution segment.

Primary Markets Targeted

Myers Industries serves a broad spectrum of markets, including industrial manufacturing, food processing, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, and consumer products.

Financials and Funding

Funding History

As a publicly traded company on the New York Stock Exchange under the symbol MYE, Myers Industries has a history of strategic acquisitions to expand its product portfolio and market reach. Notable acquisitions include:

• 1987: Acquired Buckhorn Inc., a manufacturer of reusable plastic containers and molded rubber products.

• 1995: Acquired Ameri-Kart Corporation, specializing in rotational molding and thermoforming for the RV, marine, and custom industries.

• 2012: Acquired Jamco Products, a designer and manufacturer of heavy-duty industrial steel carts and safety cabinets.

• 2014: Acquired Scepter, a manufacturer of portable fuel and water containers.

• 2019: Acquired Tuffy Manufacturing Inc.

• 2020: Acquired Elkhart Plastics, Inc.

• 2021: Acquired Trilogy Plastics.

• 2022: Acquired Mohawk Rubber.

• 2024: Acquired Signature Systems.

These acquisitions have been instrumental in diversifying Myers Industries' product offerings and enhancing its market position.

Recent Financial Performance

As of August 8, 2025, Myers Industries' stock performance is as follows:

Stock Market Information for Myers Industries Inc. (MYE)

• Myers Industries Inc. is an equity in the USA market.

• The price is 15.76 USD currently with a change of -0.06 USD (-0.00%) from the previous close.

• The latest open price was 16.0 USD and the intraday volume is 95,099.

• The intraday high is 15.94 USD and the intraday low is 15.6 USD.

• The latest trade time is Friday, August 8, 17:04:56 UTC.

Pipeline Development

Myers Industries continues to focus on expanding its product portfolio through strategic acquisitions and internal development. The company has not publicly disclosed specific details regarding its pipeline development or upcoming product launches.

Technological Platform and Innovation

Proprietary Technologies

The company utilizes proprietary manufacturing processes, including rotational molding and thermoforming, to produce a diverse range of plastic products. These technologies enable the creation of complex shapes and designs, catering to various industry needs.

Significant Scientific Methods

Myers Industries employs advanced manufacturing techniques to ensure product quality and efficiency. The company also leverages a mobile app-based system for inventory management and streamlined ordering in its distribution segment, enhancing customer experience and operational efficiency.

Leadership Team

Executive Profiles

• Aaron M. Schapper: President & CEO.

• Grant Fitz: Chief Financial Officer (departed May 5, 2025).

• Marty Ueland: President of TranPak, a competitor of Myers Industries.

• William J. Rehrig: CEO of Rehrig Pacific, a competitor of Myers Industries.

• William F. Ash: President of ORBIS, a competitor of Myers Industries.

• Dean Muglia: CEO of ORBIS, a competitor of Myers Industries.

• Michael Broberg: CEO of ORBIS, a competitor of Myers Industries.

Competitor Profile

Market Insights and Dynamics

The material handling and distribution industry is characterized by a diverse range of companies offering various products and services. Key competitors of Myers Industries include TranPak, Rehrig Pacific, and ORBIS. These companies operate in similar markets and offer comparable products, contributing to a competitive landscape.

Competitor Analysis

• TranPak: Specializes in providing plastic pallets and containers for material handling.

• Rehrig Pacific: Offers a range of reusable plastic containers and pallets for various industries.

• ORBIS: Provides reusable plastic containers and pallets, focusing on supply chain solutions.

Strategic Collaborations and Partnerships

Myers Industries has not publicly disclosed specific strategic collaborations or partnerships. The company continues to explore opportunities to enhance its market position and innovation capacity.

Operational Insights

In response to market dynamics and competitive pressures, Myers Industries is actively executing its Focused Transformation initiative. This approach aims to concentrate resources on core competencies, leverage market opportunities, and prioritize strategies that deliver the greatest impact. The initiative is designed to create a culture of performance, deliver consistent results, improve portfolio profitability, and deploy a disciplined capital allocation strategy.

Strategic Opportunities and Future Directions

Myers Industries continues to focus on expanding its product offerings and market reach through strategic acquisitions and internal development. The company is committed to delivering innovative and sustainable solutions that meet the evolving needs of its customers.