Photovoltaic Market Conditions Deteriorating
SKC has recently decided to stop its ethylene vinyl acetate (EVA) sheet business.
“We made the decision for more business efficiency with photovoltaic market conditions deteriorating and competition intensifying due to China,” the company explained. The pre-tax net losses of SKC Eco-Solutions’ EVA business unit amounted to 35.6 billion won in the first quarter of this year.
A photovoltaic module requires an EVA sheet for wafer protection and a back sheet protecting the entire back surface of the module. SKC Eco-Solutions, one of SKC’s subsidiaries, is going to keep producing back sheets while concentrating on its more promising products such as semiconductor materials and film materials.
These days, Chinese photovoltaic companies are supplying much cheaper products in quantity and their South Korean counterparts are in a serious crisis. Ingot and wafer manufacturer Woongjin Energy filed for receivership last year and is scheduled to be delisted. OCI’s subsidiary Nexolon, which used to be the world’s fifth-largest wafer manufacturer, went under in 2018. OCI and Hanwha Solutions no longer produce polysilicon.