Toray Industries, Inc.
Tokyo, Japan, July 13, 2023 – Toray Industries, Inc. today announced plans to increase regular tow carbon fiber production capacity at two facilities. Capital investments will add lines to the Spartanburg plant in South Carolina, USA of Toray Composite Materials America, Inc. and the Gumi plant in Gyeongsangbuk-do, Korea of Toray Advanced Materials Korea Inc. These investments will increase the Toray Group’s annual capacity by over 20% to 35,000 metric tons beginning in 2025.
These important capacity increases are in response to the market situation in the United States and Korea, where demand for pressure vessel applications is rising. Fueled by the ongoing clean energy revolution in hydrogen, natural gas, and other industrial applications, these expansions target high-strength carbon fibers up to 24,000 filaments per tow. The capacity increases will also complement total supply for other core markets such as aviation.
Toray anticipates demand for regular tow carbon fiber to expand by 17% annually on a decarbonization megatrend. The decarbonization megatrend signals the growing demand for compressed natural gas delivery vehicles and gas transportation tanks, increasing the need for compressed natural gas, hydrogen tanks, and other pressure vessel applications. This trend will also increase the adoption of regular tow carbon fiber for passenger cars, trucks, trains, and ships that utilize fuel cells.
Toray has made growing sustainably pivotal to Project AP-G 2025, its medium-term management program. Accordingly, the company has positioned industrial applications of its carbon fiber composite materials business to accelerate measures tackling climate change. Toray will fully leverage its comprehensive capabilities in keeping with its corporate philosophy of contributing to society by creating new value and help materialize a carbon-neutral economy by 2050.
Profile of Toray Composite Materials America, Inc.
| (1) |
Business: Manufacturing and distributing carbon fiber and prepreg materials |
| (2) |
Headquarters: Tacoma, Washington, United States of America |
| (3) |
Establishment: April 2017 |
| (4) |
Representative: Dennis Frett, President and CEO |
Profile of Toray Advanced Materials Korea Inc.
| (1) |
Business: Manufacturing and distributing PET film, polyester fibers, non-woven fabrics, processed film products, printed circuit materials, water treatment membrane modules, carbon fibers, and PPS (polyphenylene sulfide) resin |
| (2) |
Headquarters: Seoul, Korea |
| (3) |
Establishment: December 1999 |
| (4) |
Representatives: President (CEO & COO) Jeon Hae-sang |
