Mitsubishi Rayon have announced today the signing of a joint study of carbon fibre business in ASEAN Economic Community (AEC).
Both companies are expecting a high growth of carbon fibre demand in South East Asia where local demand still remains high and both believe that Thailand will be the main strategic location for their new facility due to its fully developed automotive industry.
The joint study will target downstream businesses in automotive, energy (natural gas and renewable energy), civil engineering and infrastructure.
MRC and PTT anticipate up to 100 billion JPY worth of sales in carbon fibre composites by 2020 in the region. The joint study will include an evaluation of potential demands for carbon fibre in Thailand and the South East Asia region together with the feasibility study of new carbon fibre and its composites plant in Thailand. At the early stages, the joint collaboration will mainly focus on exploring automotive part and pressure vessel demands however both companies believe that low-cost natural gas containers made of extremely strong and lightweight carbon fibre composites are the key technological breakthrough which will contribute to the transportation sector, unfolding the possibility to maximise fuel efficiency globally. Both companies expect to conclude the joint study by the end of 2013.
Mitsubishi Rayon is one of the largest carbon fibre manufacturers in the world and continues to grow by expanding its capacity to meet global demand for carbon fibre products. A joint collaboration with PTT enhances MRC to globalize its manufacturing capability and support Asian customer base. MRC’s expertise in manufacturing carbon fibre composites will be contributed to joint collaboration.