Hanwha : develops insulation materials for high-voltage cables

Seoul. March 21 -- Hanwha Solutions has achieved a pioneering milestone by developing insulation materials for extra-high voltage cables, marking a significant leap forward in the company's entry into the high-value material businesses amid escalating global demands fueled by power grid expansions.

The firm announced its plans to broaden its venture into the extra-high voltage cable materials sector by introducing next-generation products crafted through its proprietary technology. Among the domestically produced materials are Cross-Linked Polyethylene (XLPE) for 400 kilovolt (kV) cables and XLPE designed for submarine cables.

XLPE stands out as a high-purity insulation material that significantly enhances the performance of polyethylene (PE) by incorporating special additives to boost heat resistance. This advancement is pivotal in defining the efficiency and durability of extra-high voltage cables by improving transmission efficacy and longevity.

As the first in South Korea to pioneer the development of XLPE for 400 kV cables, Hanwha Solutions is poised to offer competitive alternatives to foreign-manufactured products. Since 2022, the company has secured quality certifications from domestic cable manufacturers and is set to extend its offerings to major cable projects worldwide.

Moreover, the submarine cable market represents another avenue for business growth, driven by the surging demand for offshore wind power and other renewable energy sources. With its XLPE specialized for submarine cables having passed the rigorous quality certification tests conducted by leading global cable manufacturers, Hanwha Solutions is now serving key markets, including the United States and Europe.

In 2023, the company witnessed a remarkable 61% surge in sales within its high-voltage power cable materials division, compared to the preceding year. Leveraging a high-purity closed-system process technology that effectively reduces impurities, Hanwha Solutions has attained the world's third-largest production capacity for XLPE (110KTA per year), trailing only behind Borealis in Austria and Dow in the United States.

Looking ahead, Hanwha Solutions is poised to fortify its position and extend its global market share through an unwavering commitment to innovation and strategic foresight. By prioritizing the development of proprietary materials such as Ethylene Butylacrylate Copolymer (EBA), the company seeks to capitalize on the robust growth trajectory of the XLPE high-voltage cable market, which is projected to expand at an impressive rate of 7% annually.

"Insulation materials for power cables represent a crucial engine for future growth within the chemical business," stated Won Jae-sik, head of the PO Business Division at Hanwha Solutions. "By leveraging our diverse product portfolio, developed through our cutting-edge technology, we are committed to reinforcing our market leadership."

Hanwha Solutions' monumental achievement underscores not only its relentless pursuit of excellence but also its unwavering commitment to shaping a sustainable and electrifying future for generations to come.