Samyang Innochem, HD Hyundai Heavy team up to develop eco-friendly LNG tank insulation

Samyang Innochem signed a memorandum of understanding Monday with HD Hyundai Heavy Industries and Mirae Polymer Research to jointly develop insulation materials for liquefied natural gas storage tanks, the company announced Tuesday. The signing ceremony was held at the auditorium of Samyang Group's headquarters in Jongno-gu, Seoul.

Under the agreement, Samyang Innochem will supply isosorbide — an eco-friendly bio-based material — and provide related physical property data. HD Hyundai Heavy Industries will develop next-generation LNG tank insulation prototypes using isosorbide, evaluate their properties and lead mass production of the final product. Mirae Polymer Research, a specialist consulting firm in polyurethane materials, will contribute to designing optimal formulation ratios and process solutions for the insulation material.

The shipbuilding industry has been turning its attention to eco-friendly specialty materials that could replace conventional petrochemical-based insulation for LNG storage tanks. Because LNG tanks experience temperature differences of more than 180 degrees Celsius between their interior and exterior, insulation with low thermal conductivity and high durability is essential.

Isosorbide is a bio-based material produced by chemically processing starch extracted from plant sources such as corn. It is environmentally friendly and offers significantly improved thermal efficiency, durability and flame retardancy compared with conventional insulation materials, making it suitable as a functional additive. It is also used in food containers and automotive interior and exterior components. Samyang Innochem is the only domestic producer of isosorbide.

The three companies plan to secure core technologies and an eco-friendly supply chain covering the entire process — from raw material production through technology optimization to final commercialization. They also aim to build a commanding technological barrier in the eco-friendly materials market and establish an early lead.

"The goal of this agreement is to develop high-value-added technology that enhances insulation strength and thermal efficiency using eco-friendly bio-based materials," said Ryu Hun, business unit head at Samyang Innochem. "Through this, we will go beyond achieving technological self-reliance in core ship insulation materials and contribute to securing a technological edge for HD Hyundai Heavy Industries' gas carriers in the global eco-friendly shipbuilding market."

Meanwhile, Samyang Innochem completed an isosorbide production factory in 2022 at the Gunsan Free Trade Zone — the first of its kind in South Korea and the second in the world — spanning 7,000 pyeong (about 23,100 square meters). The facility has an annual output capacity of 15,000 tons.