Hanwha Total Petrochemical Awarded
“World Class Product of Korea” for the
4th Consecutive Year
- High Isotactic Polypropylene (HIPP) is named a World Class Product of Korea
- HIPP dominates the global market for heat resistant polypropylene with 60% market share
[December 4, 2018] Hanwha Total Petrochemical’s High Isotactic Polypropylene (HIPP) for Electronic Application was designated as 2018’s World Class Product of Korea by the Korea Trade and Investment Promotion Agency (KOTRA).
The World Class Product title is given only to select Korean products that are either among the top 5 in their industry worldwide or hold at least 5% of global market share with at least USD 50 million in sales or USD 5 million in exports annually.
Last year, HIPP was the world’s number one heat resistant polypropylene product, making up more than 60% of the 140,000 tons of heat resistant polypropylene shipped annually.
This is the fourth consecutive year that a Hanwha Total Petrochemical Company’s product was selected as a World Class Product of Korea. HIPP is the firm’s fifth World Class Product and Hanwha Group’s eighth.
HIPP is considered to be the world’s gold standard for plastic used in electronics because of its superior product quality and brand recognition. HIPP is a versatile synthetic plastic that uses its own catalyst and polymerization process technology. As a result, HIPP has the world’s best-in-class rigidity, shock resistance, and heat resistance. It is used in a wide variety of electronics that require long-term thermal stability including household appliances such as steam cleaners, coffee makers, air fryers, and more.
HIPP is an environmentally friendly material that does not contain harmful ingredients like lead, mercury, or cadmium, making it a popular alternative to materials like ABS and PVC. And because it is safer, the global HIPP market size for electronic applications is expected to increase and reach 1.14 million tons annually.
“Our work does not stop here. We will focus on R&D to come up with new manufacturing processes,” says a Hanwha Total Petrochemical spokesperson. “This way, we will continue to produce world-class products and accelerate our growth in the global high-end plastics market with our superior technology and product quality.”
Hanwha Total Petrochemical
Since its founding in 1988, Hanwha Total Petrochemical has led the growth of the petrochemical business in South Korea through technology innovations and market expansion strategy. In 2003, Hanwha Total Petrochemical set out to build a foundation to become a global chemical and energy company. The company executed its plan by forming a joint venture with the Total Group, a major French company in the energy and chemical industry. Since then, and after becoming a Hanwha affiliate, Hanwha Total Petrochemical has achieved a record-breaking financial performance.
For more information, visit: www.hanwha-total.com/en
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has 61 domestic affiliates and 325 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 65 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.
For more information, visit: www.hanwha.com
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