On May 25, South Korea’s Hyosung Group announced that it will build a third PAN-based carbon fiber production line at its plant in Jeonju, North Jeolla Province, South Korea, with a capacity of 2,500 tons/year. The production line is expected to be completed and put into operation in 2022. By then, South Korea’s Hyosung’s carbon fiber production capacity will increase to 6,500 tons/year.

Hyosung’s expansion is to meet the growing market demand for carbon fiber materials in the fields of carbon core cables, infrastructure facilities, especially CNG pressure vessels and hydrogen energy vehicles. Hyosung stated that the carbon fiber products produced by the company are of high quality and are ideal materials for the production of Type III and Type IV gas cylinders. In addition to more and more applications in the field of infrastructure, at present, Hyosung’s carbon fiber is also receiving attention from the oil and gas industry.

 

The relevant person in charge of Hyosung Group stated that in 2019, the company announced an investment of 1 trillion won (approximately 5.8 billion yuan) to expand the scale of carbon fiber production. It is expected to form an annual output of 24,000 tons of carbon fiber and 10 production lines by the end of 2028. This expansion is an important step in advancing the plan.