Coloray passes inspection for 'High-Performance Conductive Composite Materials' China Science and Technology Project

Coloray's core automotive coating technology, the ‘high-performance nano conductive composite material,’ was officially approved and certified as a science and technology project by Zhejiang Province, China, on the 14th.

Previously, last month, Coloray's developed ‘high-performance nano conductive material’ was officially included in the 2023 Zhejiang Province core new material application list in China.

Currently, all materials used for automotive conductive primers in the Chinese market rely on imports. A representative product is one developed by Ishihara in Japan, but its average price is very high at about 500,000 to 700,000 yuan per ton (approximately 120 million KRW), which has also increased the cost of automotive primer coating materials.

Since 2019, Coloray has formed a professional scientific research team and started research and development of high-performance conductive composite materials in collaboration with the Department of Chemical Materials Engineering at JIANGNAN University, a top 1% prestigious university in the field of chemical materials research. After four years of technical research, they succeeded in developing a product with performance comparable to overseas-developed products.

In 2022, China's automobile production and sales exceeded 26 million units, and with the increase in vehicles, the demand for high-performance conductive composite materials used in automotive primers is also rising. Currently, the market price of conductive composite materials is about 500 to 700 yuan/kg (approximately 120,000 KRW). Assuming an average of 1 kg per vehicle, nearly 30,000 tons of conductive coatings were consumed in 2022, with a production value approaching 20 billion yuan (about 3.5 trillion KRW).

Over the next 10 years, automobile production and sales are expected to remain at a high level, and demand for conductive coating materials is expected to continue growing. Importantly, with the active development of electric vehicles, urban high-speed light rail, and other vehicles, demand for high-performance nano conductive coating materials will further increase, and the application fields of conductive coatings will continuously expand, indicating broad market growth potential for conductive coatings.

A company representative stated, “Coloray has developed high-performance conductive coating materials through years of accumulated technology and experience, which is expected to simultaneously reduce raw material costs and protect the environment in the automotive industry,” adding, “Currently, high-performance conductive composite materials are 100% dependent on imports, but if replaced by Coloray’s (domestic) products in the future, significant profitability is expected.”

This content was produced with the assistance of AI translation services.