Toray Industries, Inc.
Toray Advanced Materials Korea Inc.
Tokyo, Japan, February 6, 2023 – Toray Industries, Inc., announced today that wholly owned subsidiary Toray Advanced Materials Korea Inc. will increase annual production capacity for TORELINA™ polyphenylene sulfide (PPS) resin by 5,000 metric tons at a plant in Gunsan, Korea, from December 2024. The Toray Group’s combined PPS manufacturing capacity at this facility and the Tokai Plant in Aichi Prefecture, Japan, would thereby rise to a world-leading 32,600 metric tons annually.
A concurrent move will be to expand production of sodium hydrogen sulfide, a key raw material for PPS resin. Toray would thereby solidify its position as a cost-competitive, integrated manufacturer of everything from raw materials through resins.
Toray Advanced Materials Korea will supply PPS resin not consumed domestically to Toray Group compounding sites in China, Europe, the United States, Southeast Asia, and other regions as part of efforts to expand its global business.
PPS resin is a super engineering plastic. Key benefits are outstanding heat and chemical resistance, mechanical strength, and flame retardance. Applications include electrical components for a growing number of electrified vehicles, electrical and electronic devices, and housing-related parts. Applications continue to broaden. Toray decided to boost capacity at Toray Advanced Materials Korea to cater to a projected 6% annual demand growth globally for PPS resin compounds.
Toray Group is a comprehensive manufacturer of PPS not just for resin compounds but also for films and fibers. It is the world’s largest player in this field. It will reinforce that position by leveraging the new expansion to cultivate applications for advanced, eco-friendly products, for which demand should rise in the plastic compounding arena.
Toray has made expanding globally in promising fields a central strategy under Project AP-G2022, its medium-term management program. The Toray Group will accordingly pursue sustainable growth by expanding its resins business to capture demand China, elsewhere in Asia, and in emerging markets. It also looks to capitalize on opportunities in automotive, electrical and electronics devices, housing-related parts, and other fields.
Profile of Toray Advanced Materials Korea Inc.
|Manufacturing and distributing PET film, polyester fibers, non-woven fabrics, processed film products, printed circuit materials, water treatment membrane modules, and carbon fibers
||713.3 billion won (wholly owned by Toray Industries, Inc.)
||Chairman Lee Young-Kwan and President (CEO & COO) Jeon Hae-sang