[Asia Economy Reporter Hyungsoo Park] Research Alom forecasted on the 1st that Kukdo Chemical's sales of epoxy, a raw material for wind turbine blades, will increase. The target stock price was set at 85,000 KRW.
Established in 1972, Kukdo Chemical is a manufacturer of industrial chemical materials. Its main products are epoxy resin used as protective coating adhesives and polyol resin, a raw material for polyurethane. The annual production capacity of epoxy resin and polyol resin is 880,000 tons, establishing world-class production facilities.
Senior Researcher Seonghwan Choi of Research Alom said, "Kukdo Chemical is a specialized producer of epoxy used as raw material for wind turbine blades and ship coatings for LNG vessels," adding, "We expect benefits from the expansion of eco-friendly infrastructure.
He explained, "Countries around the world are boosting their economies through massive social overhead capital (SOC) investments," and "We expect to enter the Indian market, which is the third largest consumer of epoxy globally."
Kukdo Chemical established a sales corporation in India and built an epoxy plant with a production capacity of 40,000 tons in Gujarat.
Researcher Choi analyzed, "With growing interest in eco-friendly energy, the global offshore wind market is expected to grow at an average annual rate of 13% until 2040," and "Kukdo Chemical supplies epoxy to leading wind power equipment companies worldwide."
He also added, "Due to environmental regulations lowering the sulfur oxide content standard in ship fuel from 3.5% to 0.5% starting this year, exports of LNG vessels are increasing," and "Kukdo Chemical is expected to benefit."
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