Mitsui growth plan to expand elastomers business

TOKYO—Mitsui Chemicals Inc. will increase investments in its Tafmer elastomers business as part of a new group-wide "Vision 2030" plan focused on high value-added and sustainability-oriented applications and markets.

Tafmer olefinic copolymers are used in applications including automotive materials, packaging materials, engineering plastic modifiers and sports shoe mid-soles.

The Japanese supplier, however, cited growing use of the elastomers as solar battery encapsulants as the main driver for growth in the business.

As part of the long-term plan, Mitsui said it will increase Tafmer "specialization rates" from 60 percent to 70 percent, while "considering" further capacity growth.

The potential expansion follows a 2021 capacity increase at the group's production base in Jurong Island, Singapore, which saw Tafmer output raised by 25,000 metric tons per year (25 ktpa) to 225 ktpa.

Mitsui's Vision 2030 also stipulates further investment in green chemicals and expanding the company's line-up of bio-based hydrocarbon derivatives.

By September, the Japanese group aims to further introduce bio-based hydrocarbons for the manufacture of ISCC-certified products.

Among other materials, Mitsui will produce bio-based version of its thermoplastic vulcanizate (TPV) elastomer Milastmer, as well as bio-based Tafmer products.