Samyang Inochem announced in a statement on Tuesday the signing of a memorandum of understanding with the shipbuilding giant and Future Polymer Research.
Under this agreement, Samyang Inochem will supply isosorbide, an “eco-friendly” material, and provide related physical property data.
Moreover, HD Hyundai Heavy Industries will be responsible for developing prototypes of LNG storage tank insulation using isosorbide, evaluating their physical properties, and mass-producing the final product, according to the statement.
Future Polymer Research will contribute to designing solutions for optimizing the insulation’s formulation ratios and manufacturing processes.
Replacing existing petrochemical-based insulation
In the shipbuilding industry, interest has recently been focusing on “eco-friendly” specialty materials to replace existing petrochemical-based insulation for LNG storage tanks, spurred by recent fluctuations in crude oil prices, the statement said.
Since the temperature difference between the interior and exterior of LNG storage tanks can exceed 180 degrees Celsius (℃), insulation with low thermal conductivity and high durability is essential, the statement said.
Isosorbide is a bio-based chemical compound produced through a multi-step chemical and catalytic conversion of plant starch, typically sourced from crops like corn or wheat.
Samyang Inochem says it is currently the only producer of Isosorbide in South Korea.
The material replaces conventional chemical materials in plastics, coatings, and also adhesives for electric-vehicle motor cores, the company added.
