Evonik Industries AG and the Chinese company Wynca have agreed to form a joint venture. The new company, in which Evonik will hold 60 percent, will produce fumed silica marketed under the name Aerosil.
The product is used in transparent silicones, coatings and paints, modern adhesives as well as non-combustible high-performance insulation materials. The joint venture, Evonik Wynca (Zhenjiang) Silicon Material Co Ltd plans to build a fumed silica production facility in the Zhenjiang New Material Industry Park (Jiangsu Province, China), investing an amount in the mid-double-digit million Euro range.
The facility, with a projected annual output of 8,000 metric tons is scheduled to become operational in 2021. The overall project still requires the approval of the relevant corporate bodies and the competent authorities.
The global market for fumed silica is growing at around 5 percent, showing stronger growth than the global economy. Key drivers for the fumed silica market in China include the silicone industry for adhesives and sealants in buildings and cars as well as gel batteries such as those used in electric bikes. The joint venture will supplement Evonik's global network of Aerosil production facilities, while Wynca plans to further expand its business with silicon-based products, using the benefits of a shared approach.
Evonik Industries AG and the Chinese company Wynca have agreed to form a joint venture. The new company, in which Evonik will hold 60 percent, will produce fumed silica marketed under the name Aerosil.
The product is used in transparent silicones, coatings and paints, modern adhesives as well as non-combustible high-performance insulation materials. The joint venture, Evonik Wynca (Zhenjiang) Silicon Material Co Ltd plans to build a fumed silica production facility in the Zhenjiang New Material Industry Park (Jiangsu Province, China), investing an amount in the mid-double-digit million Euro range.
The facility, with a projected annual output of 8,000 metric tons is scheduled to become operational in 2021. The overall project still requires the approval of the relevant corporate bodies and the competent authorities.
The global market for fumed silica is growing at around 5 percent, showing stronger growth than the global economy. Key drivers for the fumed silica market in China include the silicone industry for adhesives and sealants in buildings and cars as well as gel batteries such as those used in electric bikes. The joint venture will supplement Evonik's global network of Aerosil production facilities, while Wynca plans to further expand its business with silicon-based products, using the benefits of a shared approach.
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