Kolon Industries expanding speciality resin production for EV tires

Seoul – Kolon Industries is strengthening its presence in the electric vehicle tire market by expanding production capacity for high-value speciality petroleum resin products.

The Korean group is investing KRW24 billion (€17 million) to almost double manufacturing capacity for “high-purity aromatic petroleum resin (PMR)” at its Yeosu plant in Jeollanam-do, said a recent announcement.

According to Kolon, PMR is a petroleum resin with improved thermal stability and viscosity/adhesion.

The material is used as a special additive in high-performance tires, electric cables, and sanitary materials.

In particular, the material can strengthen the durability of rubber tires, thereby improving the braking power and driving safety of electric vehicles.

Having started full-scale production of PMR in 2022, the Korean supplier expects to complete the expansion project in the first half of 2024, to “rank first” in the global PMR production.

“The strategy is to further solidify dominance in the speciality petroleum resin market by securing stability in supply of raw materials and cost competitiveness,” Kolon concluded.

According to Kolon, the existing production line is currently continuing ‘full production and full sales’, as demand increases both for EVs and high-performance tires.