Mitsui Chemicals anticipates growth in Tafmer business

TOKYO—Mitsui Chemicals Inc. expects to see significant growth in its Tafmer polyolefin elastomers business, according to Osamu Hashimoto, president and CEO of the Japanese group.

"We expect to see growth for Tafmer not only in mobility applications but also in solar cell encapsulant applications," Hashimoto said in a recent discussion with investment analysts.

A particular focus for Mitsui Chemicals, he said, was to shift from low-profitability to high-profitability areas in markets outside of mobility, where the polymer is also widely used.

In the renewable energy sector, for instance, Hashimoto noted that demand for solar panels had increased substantially.

"In the past, solar cell encapsulants have primarily been made from ethylene vinyl acetate, but Tafmer is being adopted more and more as polyolefin elastomers offer better performance," he said.

"As competition is fierce in the encapsulants field, we will focus on securing steady profits and strengthening the business foundation," the Mitsui Chemicals boss said.