A Global Top-tier Petrochemical Company
on the Rise
- Highlighting the success of Hanwha's petrochemical business for the first anniversary of Hanwha General Chemical & Hanwha Total Petrochemical
Over the past few years, the global petrochemical industry has suffered unprecedented crises, such as an earnings shock in the wake of plunging oil prices and economic depression. Amid these difficult circumstances, Hanwha Group adopted a selection and concentration strategy for its petrochemical business and launched Hanwha General Chemical and Hanwha Total Petrochemical, cementing its position as a global leader through economies of scale and synergy among subsidiaries.
One year after the launch of Hanwha General Chemical and Hanwha Total Petrochemical in 2015, the renewed status and achievements of Hanwha Group’s petrochemical business are highlighted below.
Diversification of Material and Product Portfolio through Value-added Integration
Hanwha Group is creating synergy through the systematic vertical integration of its subsidiaries. It has a diversified material portfolio ranging from oil refining to basic materials, synthetic materials, chlorine∙caustic soda, and it produces various advanced products such as lightweight automobile materials, solar energy materials, and electrical materials.
World’s No.1 for EVA and 9th Largest for Ethylene Production Capacity
Backed by economies of scale, Hanwha Group continues to solidify its dominance through competitive prices and stable supply. Ethylene production, the base of the petrochemical industry, reached 2.99 million tons, the 9th-highest in the world, and high value-added EVA production recorded 630,000 tons, securing a top place in the global market.
Hanwha Chemical’s World-Class Products
Hanwha Chemical boasts world-class products (refer to the remarks) such as W&C Compound¹, EVA for Thermal Laminating Film², and Solar Cell EVA³, and it has become the third business in the world to develop its own W&C product design and production technologies, cementing its world-leading technologies.
¹ W&C Compound (Wire & Cable Compound)
² EVA for Thermal Laminating Film
³ Solar Cell EVA
Expansion into the Global Market
Hanwha Group is quickly making inroads into strategic production hubs and markets. Hanwha Chemical is producing ethane gas-based petrochemical products after establishing International Polymers Co. (IPC), a joint venture with the Saudi Arabian petrochemical company Sipchem, and building a plant in the northern Jubail petrochemical industrial complex. This made it possible to acquire low-price materials to secure price competitiveness as well as have an advantageous position to advance into neighboring markets and the Middle Eastern markets.
It is also actively targeting China, the world’s largest PVC market, through the establishment of a 300,000-ton/yr PVC plant in Ningbo, China, in 2011.
Hanwha Total Petrochemical Records the Highest Sales since Its Foundation
Hanwha Total Petrochemical delivered USD 7.2 billion (KRW 8.27 trillion) in sales and USD 691 million (KRW 797 billion) in operating profit, the best performance since its foundation. It also jumped to the world’s top spot in the solar cell EVA market, achieving a global market share of 35%.
Hanwha Total Petrochemical’s Industry-Leading Technology in Solar Cell EVA Commercial Production
Hanwha Total Petrochemical successfully carried out the world’s first solar cell EVA commercial production using tubular reactor polymerization through its own independently developed technologies, and based on this process, the company is now dominating the global solar cell EVA material market.
Hanwha Advanced Materials’ Cutting-edge Technology
Hanwha Advanced Materials has the capabilities to develop and produce lightweight automobile materials and high functional film, and its technologies and quality are globally recognized, with StrongLite and SuperLite accounting for 70% of the global market share.
Thank you for your interest in Hanwha.
Please contact us for your inquiries.
Please enter your email address.
Please enter a correct email address.
Thank you for your newsletter subscription.
Your email account has been successfully registered.