Hyosung : Advanced Materials seeks to expand its global markets for carbon fiber

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Hyosung Advanced Materials seeks to publicize its carbon fiber brand TANSOME® during the "China Composites Expo 2023" held in Shanghai, China on September 12 ~14.

The Company will publicize goods made of TANSOME such as high-pressure containers for hydrogen vehicles, vehicle wheels, sporting goods, etc. during said expo at meetings with customers.

The expo is an international industrial expo concerning composite materials and is expected to be the one held in the largest scale among those held in Shanghai. Hyosung Advanced Materials also took part in the one held in 2019. Such events could not be held for years due to the COVID-19 pandemic. Many world-renowned carbon fiber manufacturers and businesses specializing in major composite materials and facilities are participating in this year's event.

"The sheer quality and technological prowess of TANSOME earn raves among customers in markets for high-pressure containers, cable-core materials, reinforcing building materials, and diverse sporting goods. We will use the event as a momentum for securing new customers in diverse areas where carbon fiber is used," the Company's President CHO Yong-soo said.

Carbon fiber weighs only one-fourth of steel but is ten times stronger than metal. It is used in more areas than before including CNG/hydrogen high-pressure containers, car parts, wind power blades, etc. Worldwide demand for carbon fiber is expected to grow by an average of 17%, i.e., 150,000 tons in 2022 to 240,000 tons by 2025.

Hyosung Advanced Materials became the first business to develop high-tensile carbon fiber TANSOME using its own technology in 2011, producing it at its factory in Jeonju from 2013. The Company has continued to expand its production facility, bringing the annual production volume to 9,000 tons, and planning to increase it to 24,000 tons by investing a total of 1 trillion won by 2028.