Kumho Petrochemical Group, in response to the global demand slump and oversupply from China, will focus on research and development (R&D).
According to industry sources on the 16th, Kumho Petrochemical Group diversified its product portfolio through the commercialization of new products last year, increased profitability through cost reduction and improved productivity, and made multifaceted efforts to overcome the industry recession by establishing innovative technologies. This year, it plans to lay the groundwork for a resurgence in the rapidly changing market environment based on strengthening eco-friendly automation solutions, expanding bio and sustainable materials, and transitioning to high-value specialty products.
First, Kumho Petrochemical plans to establish an R&D-centered system as part of its mid-to-long-term strategy. It aims to create a stable revenue structure through the expansion of high-value products and secure new growth engines through the commercialization of leading products. To this end, it is focusing on research of SSBR, a type of synthetic rubber primarily used in high-performance tires for electric vehicles.
Additionally, to proactively respond to the temporary demand slowdown caused by the electric vehicle chasm, it will develop customized products (increased tire lifespan, improved fuel efficiency, energy reduction). It has also secured pilot production technology for eco-friendly synthetic rubber that meets both environmental and tire performance needs by integrating key functional technologies with bio-based raw materials derived from sugarcane.
It is also researching the de-solvent (DEVO) process to respond to global environmental regulations and lead the eco-friendly tire market. This process can significantly reduce energy consumption during synthetic rubber production as well as lower carbon dioxide emissions.
Kumho P&B Chemicals is strengthening its research in areas such as solvent-free and water-soluble epoxy resins, and bio-based low-carbon epoxy resins. Solvent-free and water-soluble epoxy resins are materials that can reduce volatile organic compounds (VOC) emissions, thus being free from regulations and improving the working environment for employees. Currently in commercial production, it is conducting research to improve physical properties to expand applications in areas such as ships and flooring.
It is also planning to secure technology for low-carbon product production by applying bio-based raw materials to existing epoxy resin processes and will invest in related facilities this year. Carbon emissions calculations have been completed, and preparations for obtaining bio-certification are underway.
Kumho Mitsui Chemicals will strengthen its R&D capabilities by securing new application technologies for polyurethane. It will push for portfolio expansion through the development of eco-friendly technologies for MDI used in furniture, insulation materials, automotive interiors, and memory foam. It has completed the system development of polyurethane that includes plant-based materials and is poised to obtain eco-friendly certification.
Kumho Mitsui Chemicals is preparing research on the recycling of waste polyurethane. The process involves breaking down polyurethane, which requires disposal after use, into smaller pieces through pyrolysis or similar methods, and recovering reusable polyols to mix with MDI. This is expected to lead to cost reductions through recycling as well as a reduction in greenhouse gas emissions. Additionally, it plans to conduct research on the development of bio products to establish a foundation for expanding in the global market based on differentiated competitiveness.
Kumho Polychem is mobilizing its R&D capabilities to expand high-value products of the special synthetic rubber EPDM used in automotive parts, tire tubes, hoses, and wires. Furthermore, it is pursuing research on the development of materials for automobiles, including eco-friendly process improvements, lightweight products, and electric vehicle driving noise improvements. Research on eco-friendly processes is planned for pilot evaluation in the second half of this year, along with plans for on-site application.
It will also strengthen product competitiveness through the expansion of application fields such as thermal conductivity and insulating materials, and will pursue leadership in eco-friendly technology through the development of solar power generation components and eco-rated products. Kumho Polychem is accelerating the establishment of proactive measures in response to the changing industrial environment by expanding its global portfolio and leveraging its unique technological capabilities.