Hyosung completed the construction of Jeonju plant, producing 2,000 ton per year
The Carbon fiber plants of Hyosung Corp. had its completion ceremony, opening the mass production period for carbon fiber in Jeollabuk-do. In May 13th afternoon, Hyosung had its completion ceremony for carbon fiber plants at environmental-friendly high tech complex in Jeonju-si, with the participants of Vice-president, Sang-woon Lee, the minister of commerce industry and 500 residents.
With the beginning of 2,000 ton of mass production for carbon fiber in this year, Hyosung will expand its production capacity to 17,000 ton/ year by investing 1.2 trillion won until 2020. This plant produces carbon fiber brand “TANSOME” which is specially and uniquely developed by Hyosung.
The brand name of TANSOME, is acronym of Korean word for “Carbon fiber”, and the compound word for “tanning” (which is one of the producing process) and “awesome”, meaning that the creation of new added-values. TANSOME is the 1st production for high-function (T700 level) carbon fiber in Korea and the 3rd production in the world, followed by Japan and the U.S.
While the Japanese companies such as Toray and Mitsubishi Rayon have possessed 60% share of the world’s carbon fiber market, severe competition in global market and import substitution effects are expected as of Hyosung has successfully commercialized its own technology.
Carbon fiber is 10X stronger than steels but 1/4 lighter than the steels, resulting in making it to be prospective new material to replace steels. It is also being used in various fields such as aircraft, automobile, wings for the wind-power generator, and etc. Hence, it is predicted that the market size will be expanded from current $2 billion (50 thousand ton per year) to $5 billion in 2020.
Jeollabuk-do is supporting the “business for the development of compound materials with extremely high-intensity” in the Carbon valley complex located in Jeonju and Wanju, so that the carbon industry can newly start its growth in the entire area of province.