Sales Likely to Exceed KRW6tr
KCC's sales in 2021 are estimated at an all-time high of more than 6 trillion won. The company's sales exceeded 5 trillion won for the first time in history in 2020. In addition, its operating profit is estimated to have jumped from 133.8 billion won to over 500 billion won in 2021.
According to industry sources, the rapid performance improvement has to do with its business expansion in the global silicone market. At the end of the third quarter of last year, the business item accounted for 59.4 percent of its sales, followed by paints (23.3 percent) and building materials (12.6 percent). For reference, the item made up 10.1 percent of the sales in 2019. KCC’s operating profit derived from the item last year is estimated at 315.8 billion won whereas the profit was 22.7 billion won in 2020.
KCC acquired Momentive Materials, the second-largest company in the market, for US$3 billion in 2019. KCC initiated the production of advanced silicone products for use in automobiles, batteries, and so on while gathering its silicone divisions around Momentive Materials.
At present, KCC is trying to raise its share in the high-end silicone product market by utilizing the technologies of Momentive Materials. In addition, it is working on semiconductor silicon materials, silicon anode materials, etc.