Exhibited Products Are Silicone Lenses for LED Lighting
IL Science announced on the 10th that it will participate in the '2023 Small and Medium Business Technology and Management Innovation Expo' to showcase its innovative silicone lens technology.
The product to be exhibited this time is a silicone lens for LED (light-emitting diode) lighting developed and patented by IL Science. Compared to traditional materials such as glass or plastic lenses, it is an innovative new material product with higher light transmittance, heat resistance, lightweight, and no yellowing phenomenon. Thanks to these advantages, demand is rapidly increasing in the advanced future-oriented automotive lamp sector.
IL Science is investing to nearly triple the production line at its Cheonan smart factory, which currently produces about 48,000 units annually. Under the leadership of vehicle development expert Kang Chang-gi, a former Hyundai Motor executive recruited last August, the company plans to further advance the silicone lens production process.
An IL Science representative explained, “According to market research firms, the global automotive lighting market is expected to rapidly grow to approximately 72 trillion KRW by 2032,” adding, “We expect the company to achieve double-digit annual sales growth, especially focusing on the automotive electronics business sector.”
The Small and Medium Business Innovation Expo, which exhibits and promotes achievements and awards meritorious persons to foster innovative growth and performance diffusion of small and medium enterprises, is hosted by the Ministry of SMEs and Startups and organized by the Inno-Biz Association and Main-Biz Association. This year’s event will be held at BEXCO in Busan on the 17th and 18th, in hopes of attracting the Busan Expo.
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