Toray Industries Co., Ltd. announced on April 18 that its Indian subsidiary Toray Industries (India) Plc will build nylon and PBT resin compound production facilities. PBT resin has excellent heat and chemical resistance, and High mechanical strength, can be applied to automotive electronic components as well as electrical and electronic connectors. The new plant has an annual capacity of 5,000 tons, and the construction site is located at its subsidiary in Silicheng, Andhra Pradesh. Toray's goal The plant was put into operation in September 2019. From 2016 to 2030, it is expected that the Indian economy will grow at an annual rate of 6%, which means that the market has great potential. With the continuous improvement of people’s income levels, The demand for high-end goods and value-added products, such as home electronics, is increasing. In particular, the automotive market is expected to grow at a rate of 7% a year before 2025. It is expected that the demand for automotive engineering plastics will also continue to grow.
In particular, the recent strengthening of environmental protection supervision has led to increasingly stringent customer requirements. This is mainly reflected in automotive applications. It is safe to say that the demand for high-performance materials will increase. New equipment is built to respond to these trends. The aim is to ensure stable supply through localized production, shorten the delivery period of goods, and strengthen the capabilities of plant development and storage and delivery. Takashi Endo, general manager of Toray Resins Division, said: 'We can expect that the Indian market will continue to grow. New factory It is the first such production base built by Toray Resins in India. We are very pleased. We hope to seize this opportunity brought by this fast-growing market and will expand our business. ' Looking ahead, Toray It plans to let its subsidiary's business base in Sri City not only meet the domestic market demand in India, but also serve as a base for global business and serve the South Asian market. Toray will continue to strengthen the construction of overseas bases and base on the base. Promote the expansion of global business.