OSLO, Norway—Elkem S.A. is investing in the specialization of its silicones materials as the company expects continued growth in the segment over the next decade.
The Norway-based supplier is building a $60 million flagship research and innovation center in Shanghai, Elkem announced April 27.
The investment will help the company meet growing demand for advanced silicone products and technologies, according to its statement.
The facility will house several application centers addressing the development trends in industries such as electric vehicles, medical devices, leather, airbags and products for 3D printing.
The new unit, Elkem said, will support its expansion project at its Xinghuo Silicones site, which is expected to generate an additional $532 million in sales from downstream specialization by 2030.