Toray Industries, Inc. (Tokyo) announced that Toray Plastics (China) Co., Ltd. will establish a new production site for high-performance resin compounds. These materials deliver excellent heat and chemical resistance and mechanical strength. Common applications are automotive electrical components and electrical and electronic connectors. The new facility at the premises of manufacturing subsidiary Toray Resins (Foshan) Co., Ltd., in Guangdong Province will inaugurate operations in April 2025. Toray is also considering a partial production transfer from Toray Plastics (Shenzhen) Ltd. to the new production site.
Although its economy is recovering slowly, China offers considerable market potential, with a projected annual growth rate of around 5%. Its key automotive industry is the world’s largest and is still expecting continuous growth. The Chinese government is supporting the adoption of new energy vehicles, which should boost demand for high-performance resins, particularly for automotive applications. Increasingly tight environmental regulations are accelerating demand expansion for these vehicles, creating more sophisticated customer requirements, and thus lifting demands for high-performance materials, an area in which Toray has its strength.
The new facility targets to stabilize supplies of high-performance resins in response to these market trends. Toray aims to capture rising demand for these resins in southern China and expand its business in the Chinese market by focusing on new energy vehicle applications, while addressing anticipated growth in advanced communications, electrical and electronic applications, and solar power generation.
The new site will not only serve growing demand within China but also function as a strategic hub for global operations, with a particular focus on Southeast Asia. The company will continue to enhance its overseas network and step up organic collaboration to expand its businesses worldwide.