Diversifying Portfolio Through New Product Commercialization
Establishing an R&D-Centric System as a Mid- to Long-Term Strategy
Kumho Petrochemical Group is expanding its research and development (R&D) efforts to respond to the global demand slump and oversupply of Chinese products.
Last year, Kumho Petrochemical Group diversified its product portfolio through the commercialization of new products, improved profitability through cost reduction and productivity enhancement, and strengthened its quality competitiveness by establishing innovative technologies. These multifaceted approaches were aimed at overcoming the industry downturn. This year, as a leading company shaping the future of the petrochemical industry, the group plans to solidify its foundation for a new leap forward in a rapidly changing market environment by strengthening eco-friendly automation solutions, expanding bio and sustainable materials, and transitioning to high value-added specialty products.
Kumho Petrochemical plans to establish an R&D-centric system as its mid- to long-term strategy. The company aims to create a stable profit structure by expanding high value-added products and to secure new growth engines through the commercialization of leading products.
Currently, the company is focusing on research into SSBR, which is mainly used in high-performance tires for electric vehicles. To proactively address the temporary slowdown in demand caused by the electric vehicle chasm, Kumho Petrochemical plans to solidify its market leadership by developing customer-tailored products that increase tire lifespan, improve fuel efficiency, and reduce energy consumption. The company has also secured pilot manufacturing technology for a new synthetic rubber material that meets both eco-friendly standards and tire performance requirements by incorporating advanced functionalization technology into bio-based raw materials derived from sugarcane.
Kumho Petrochemical is also researching the DEVO (desolvent) process to respond to global environmental regulations and lead the eco-friendly tire market. This process can significantly reduce energy consumption and drastically cut carbon dioxide emissions during synthetic rubber production. The company is currently working towards commercialization and real-world application of this process.
Kumho P&B Chemicals is focusing on securing future growth engines by diversifying its product portfolio. The company is continuously developing epoxy resin technology to provide efficient solutions that align with trends in the eco-friendly market. Recently, it has intensified research in areas such as solvent-free and waterborne epoxy resins, as well as bio-based low-carbon epoxy resins.
Solvent-free and waterborne epoxy resins are materials that can reduce emissions of volatile organic compounds (VOCs), making them free from regulatory restrictions and helpful for improving workers' environments. These products are currently in commercial production, and the company is continuing research to improve their physical properties for broader applications such as ships and flooring. In addition, Kumho P&B Chemicals has secured technology for producing low-carbon products by applying bio-based raw materials to existing epoxy resin processes and plans to invest in related facilities this year. The carbon emissions of these products have already been calculated, and the company is preparing to obtain bio-certification. Kumho P&B Chemicals aims to proactively respond to the rapidly changing market and strengthen its product competitiveness, pursuing a strategy to become a future-oriented company.
Kumho Mitsui Chemicals is working to strengthen its R&D capabilities by securing new application technologies for polyurethane. The company is expanding its portfolio by developing eco-friendly technologies for MDI, which is used in furniture, insulation materials, automotive interior materials, and memory foam. Having completed the development of polyurethane systems that include plant-based materials, Kumho Mitsui Chemicals is preparing to obtain eco-friendly certification. The company is also preparing research on the recycling of waste polyurethane. This involves breaking down post-use polyurethane through pyrolysis and other methods, recovering recyclable polyols, and blending them with MDI. This approach is expected to reduce costs through recycling and contribute to greenhouse gas reduction. Additionally, the company plans to conduct research on the development of bio-based products to establish a foundation for global market expansion based on differentiated competitiveness.
Kumho Polychem is seeking ways to develop eco-friendly technologies and specialized components to enter new markets. The company is mobilizing its R&D capabilities to expand high value-added products of specialty synthetic rubber EPDM, which is used in automotive parts, tire tubes, hoses, and wires. In addition, Kumho Polychem is conducting research on eco-friendly process improvements, lightweight products, and materials to reduce driving noise in electric vehicles to ensure sustainable growth. The company plans to conduct demonstration evaluations and implement field applications for eco-friendly process research in the second half of this year. Furthermore, Kumho Polychem aims to strengthen product competitiveness by expanding into application fields such as thermal conductivity and insulation materials, and to secure leadership in eco-friendly technology through the development of solar power components and eco-grade products.
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