Hanwha Solutions expands cable insulation materials units

South Korea's Hanwha Solutions Corp. is accelerating its entry into the global market with proprietary technology in high-voltage cable materials.

Hanwha Solutions announced on Thursday that it is expanding its business in high-voltage cable materials by introducing domestically developed cross-linked polyethylene (XLPE) for 400-kilovolt (kV) cables, which is the first success in localization in the country, and XLPE for submarine cables.

XLPE is a high-purity insulation product that enhances thermal resistance by adding special additives to polyethylene, contributing to increased transmission efficiency and durability of power cables.

Hanwha Solutions took the lead in developing 400-kV-grade XLPE cables domestically for the first time, aiming to replace imports.

The company is also expanding its penetration into the rapidly growing submarine cable market in response to the increasing demand for renewable energy. Hanwha Solutions' XLPE for submarine cables, developed to meet special underwater specifications, is expanding its export destinations to the United States, Europe, and other regions.

Last year, Hanwha Solutions' high-voltage cable materials business saw a 61% increase in sales revenue compared to the previous year. It boasts the world's third-largest XLPE production capacity (110,000 tons) following Borealis AG of Austria and the Dow Chemical Company of the United States.

To expand its market share in the XLPE market, which is growing at an annual rate of over 7%, Hanwha Solutions plans to actively utilize its diverse product portfolio, including EBA, a proprietary semi-conductive material, for various cable applications.

Write to Hyung-Kyu Kim at khk@hankyung.com