Hanwha Chemical Receives New Tech Certificates for Developing Technologies for the Future
- The Korea Agency for Technology Standards awarded Hanwha Chemical with two New Technology Certificates for CPVC manufacturing and hybrid metallocene catalyst system
Hanwha Chemical (CEO Kim Chang-bum) has successfully developed two fundamental technologies that are expected to serve as primary drivers of its earnings. On December 21, the Korea Agency for Technology Standards (KATS) awarded Hanwha Chemical with New Technology Certificates for its chlorinated polyvinyl chloride (CPVC) manufacturing technology and it’s next-generation hybrid metallocene catalyst technology. These technologies vastly improve the functional properties of existing products for commercial application.
High value-added CPVC is PVC that has been permeated with chlorine such that the normal PVC is transformed to become much more resistant to heat, pressure and corrosion. CPVC can be widely used for specialized piping for firefighting, industrial applications and more. Hanwha Chemical has become the first Korean company to localize the technology that has historically been esoteric to only a handful of companies, such as Lubrizol in the U.S. Sekisui and Kaneka in Japan. The high level of technology required had, until now, forced Korean companies to rely entirely on imports. The market for CPVC was approximately $524.26 million last year and is growing at a steady pace of over 10% each year. CPVC is over five times more profitable than general-purpose PVC, and the steady level of demand and lack of substitutes makes it more resistant to fluctuations in market conditions and capable of delivering a stable revenue stream.
The key to the breakthrough was the numerous small holes on the surface of the PVC. More holes accelerated the chlorine absorption while increasing the PVC density and thereby boosting productivity by 30% more than comparable CPVC manufacturing methods. Applying the new technology to general-purpose PVC is expected to raise their quality to a world-class level. A new CPVC plant with an annual capacity of 30,000 tons is currently being constructed in the No. 2 plant in Ulsan with commercial production slated to begin next March. The new technology will also be introduced to the PVC plant in Ningbo, China.
Hanwha Chemical has also successfully developed a new metallocene hybrid catalyst system that takes advantage of the unique properties of metallocene catalysis – widely regarded as the catalyst of the future. Metallocene is a type of catalyst commonly used for the manufacture of high value-added chemical products. The new method delivers a marked increase in strength and workability compared to traditional catalyst materials; and this translates to greater customization and durability. Products manufactured with the new metallocene hybrid catalyst system can remain in service for over fifty years in environments under high temperature and pressure. They are also more customizable for a greater number of applications.
Hanwha Chemical plans to further accelerate efforts to develop next-generation technologies that can deliver stable growth in an industry characterized by significant internal and external variables. In January of 2016, the company established the Future Technology Research Center with KAIST (Korea Advanced Institute of Science and Technology) to carry out R&D projects that can enable greater competitiveness in the global market, such as the development of a next-generation petrochemical material production technology, and innovative high-purity refining process that can yield energy savings.
Established in 1965, Hanwha Chemical is a total solutions chemical company with streamlined production systems for polyethylene (PE), polyvinyl chloride (PVC), and chlor-alkali (CA). As South Korea’s leading petrochemical company, we dominate the nation’s chemical industry with high-quality PVC, CA, and linear low-density polyethylene (LLDPE) that we offer at competitive prices.
For more information, visit: hcc.hanwha.co.kr/en
Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.
For more information, visit: www.hanwha.com
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