Hyosung Advanced Materials will build an additional carbon fibre production facility at its Jeonju Plant in Jeollabuk-do Province in South Korea by investing KRW 46.8bn.
Carbon fibre is called a 'dream' material as it is four times lighter than steel but 10 times as strong. It is used for various purposes as a substitute for steel, including CNG high-pressure vessels for fuel, automobile structural materials, wind power, aerospace materials, and sports leisure products.
In addition, with its market rapidly growing at a rate of over 13% annually, carbon fibre is attracting attention as a future advanced material thanks to its growth potential and high entry barriers.
The additional line to the existing site at Hyosung will increase the annual production capacity from 2,000 tons to 4,000 tons with the aim of completion by 2020.
This expansion is part of efforts to prepare for increasing demand for carbon fibre, which is not only a core material for hydrogen and CNG vehicles, which are receiving attention as future eco-friendly automobiles and reducing the weight of wire core materials, but also an advanced material for future industries including aviation.
Carbon fibre is used to make hydrogen fuel tanks and CNG (compressed natural gas) high-pressure vessels, which are key components of hydrogen cars. By 2030, hydrogen fuel tanks and CNG high-pressure vessels are expected to grow 120 times and more than four times, respectively.
Hyosung has been supplying carbon fibre for CNG high-pressure vessels of city buses since 2015. The CNG high-pressure vessel made of carbon fibre is safe because its higher tensile strength than that of a steel vessel minimises the risk of explosion and is also environmentally friendly as it is twice as light. In particular, for hydrogen cars whose weight reduction is essential, carbon-fibre pressure vessels are a mandatory requirement.
Not long after Hyosung began developing carbon fibre in 2007, it became the first Korean company to succeed in self-developing high-performance carbon fibre TANSOME in 2011. Hyosung has produced carbon fibres at the Jeonju Plant in the eco-friendly industrial complex in Jeonju, Jeollabuk-do Province since May 2013.
