Kumho Petrochemical Group is developing new synthetic products and implementing sustainable strategies as the global petrochemical market shows signs of slowing down, prompting the company to explore new avenues for growth, Korea’s leading petrochemical developer said, Wednesday.
According to the group, the shifting global market has prompted its companies to concentrate on selective products with high marketability and demand to mitigate market uncertainties. Additionally, global trends favoring eco-friendly business practices have led the company to adopt more sustainable methods in its manufacturing processes.
With a recent surge in demand from the automobile and tire markets, synthetic rubber has become Kumho Petrochemical’s new flagship product. The company is now expanding its high-performance synthetic rubber offerings, including solution styrene butadiene rubber (SSBR) for electric vehicles.
Kumho Petrochemical, the world’s leading producer of acrylonitrile butadiene (NBR) latex, will also expand its applications beyond medical gloves to include a wider range of industrial uses.
Kumho P&B Chemicals has decided to increase its production of epoxy — used in paints and wind turbine blades — by 60,000 tons this year. In collaboration with Kumho Petrochemical, Dongsung Chemical, and OCI, the company has begun 추천 expanding the production of products that utilize hydrogenated bisphenol A (HBPA), phenolic foam boards, and epichlorohydrin (ECH).
Kumho Mitsui Chemicals has decided to increase its production of methylene diphenyl diisocyanate (MDI) by 200,000 tons this year, while Kumho Polychem is ramping up its production of ethylene propylene diene monomer (EPDM) rubber by 70,000 tons this year.
To align with the global sustainability paradigm, Kumho Petrochemical has started advancing the use of renewable materials. Beginning with the production of liquefied carbon dioxide using its carbon capture and storage (CCUS) technologies last year, the company aims to expand its use of renewable materials such as recycled styrene monomer and conduct life cycle assessments of its products. Additionally, carbon nanotubes (CNTs), which are gaining traction alongside the global secondary battery market, are another key product for the company this year.