Toray to Increase Carbon Fiber Drawing Capacity by More Than 20%

Toray Industries Inc. (Tokyo, Japan) announced plans to increase regular-production carbon fiber tow capacity at two facilities. Capital investments will add lines to the Toray Composite Materials America facility in Spartanburg, S.C., USA and the Toray Advanced Materials Korea facility in Gumi. These investments will expand Toray Group's annual capacity by more than 20 percent from 2025 onward, bringing it to 35,000 metric tonnes. Toray said the capacity increases respond to market conditions in the USA and Korea, where demand for pressure vessel applications is rising. Driven by the ongoing clean energy transition in hydrogen, natural gas and other industrial applications, these expansions target high-strength carbon fibers with up to 24,000 filaments per tow. The capacity increase will also supplement total supply for other major markets such as aerospace. Toray forecasts that regular-production carbon fiber tow demand will grow at an annual rate of 17 percent, linked to the decarbonization megatrend. This trend points to rising demand for compressed natural gas (CNG) distribution vehicles and gas transport tanks, increasing the need for CNG, hydrogen tanks and other pressure vessel applications. The trend will also increase adoption of this material for passenger vehicles, trucks, trains and ships using fuel cells. Toray has placed sustainable growth at the center of its medium-term management program, the AP-G 2025 Project. In line with this, the company has positioned the industrial applications of its carbon fiber composite materials business to accelerate measures to combat climate change. In keeping with its corporate philosophy of creating new value and contributing to society, and helping realize a carbon-neutral economy by 2050, Toray will make full use of its comprehensive capabilities. Source