South Korea: Silica Production Tosoh Silica Enters into JV with Namhae Chemical in South Korea
With the assistance of the newly formed joint venture, Tosoh Silica intends to create a silica production base in South Korea. The silica produced at the site is expected to be used for developing fuel-efficient tires.
Tokyo/Japan – Tosoh Silica Corporation, a member of the Tosoh Group, has recently decided to establish a joint venture with Namhae Chemical Corporation of South Korea and construct a base to produce silica for use in fuel-efficient tires.
Demand for silica for fuel-efficient tires is expected to increase in line with a continued reduction in automotive fuel consumption as well as a shift towards vehicle electrification. Silica exhibits superior effectiveness in improving tire performance by reducing rolling resistance, which leads to enhanced automotive fuel economy.
Utilising the advanced technological capabilities it has cultivated, Tosoh Silica will establish the second production base overseas to satisfy robust demand, ensure a stable supply of products, and strengthen the profitability of the business.