Korean chemical and textile manufacturing company Kolon Industries Inc has increased the production capacity of its polyester tyre cord fabric plant in Vietnam by 14 per cent to 19,200 tons of tyre cord fabrics compared with 2018. In 2022, the company’s global sales are anticipated to cross 10 million units.
Kolon built a 16,800-ton factory in Vietnam in 2018 and its facilities in the southeast Asian country are in full operation at present. Kolon has been providing tyre cord fabrics to tyre manufacturers like Bridgestone, Goodyear, and Michelin ever since its entry in the market in 1973. Kolon is presently able to generate 103,200 tons of tyre cord fabric annually both domestically and internationally, which accounts for 15 per cent of the world tyre cord market by output, according to Korean media reports.
Tyre cords are mostly needed for electric vehicles, which require them to bear the heavy weight of the battery cells of the tyres, maintaining their shape and boosting their durability. Electric vehicle tyres use 10-20 per cent more tyre cords compared to tyres of gasoline cars to support battery cells, which can weigh up to 400 kilogrammes.
Fibre2Fashion News Desk (NB)