Producer
Hanwha Solutions (Hanwha Chemical)
World #2 EVA producer (~310,000 t capacity across Korea + IPC); EVA is a core footwear-foam and solar-encapsulant material.
2
Inputs supplied
2
Goods downstream
0
Facilities
0
Stories
What they make
2 inputs Hanwha Solutions (Hanwha Chemical) supplies
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What else they do
Business segments
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Chemicals
48%Advanced Materials
14%Q Energy (Renewable Energy / Hanwha Q Cells)
34%Other
4%
Intelligence
What's known
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Did you know2024
Hanwha Solutions is the world's second-largest producer of EVA (ethylene-vinyl acetate) copolymer — the same polymer that cushions the soles of Nike and Adidas sneakers (as EVA foam) AND encapsulates the silicon cells inside solar panels (as transparent EVA film). Both applications account for nearly all global EVA demand. A supply disruption at Hanwha's Ulsan, Korea chemical complex would simultaneously affect both the global athletic footwear and solar energy manufacturing supply chains — two industries that have no other obvious shared input supplier.
Hanwha Solutions Corporation ↗Concentration2024
Hanwha Solutions operates the entire EVA-to-solar-module value chain within a single corporate entity: (1) EVA copolymer resin production (world #2), (2) EVA encapsulant film coating (Advanced Materials division), (3) Hanwha Q Cells solar module assembly (Q Energy division). No other company in the world is vertically integrated from petrochemical feedstock through to assembled solar module. This vertical integration creates both a competitive advantage AND an unusual concentration risk — a single regulatory action, fire, or strike at Ulsan affects multiple tiers of the solar supply chain simultaneously.
Hanwha Solutions Corporation ↗Origin2024
Hanwha Q Cells (the solar module subsidiary of Hanwha Solutions) is the largest solar module manufacturer in the US with plants in Georgia (Cartersville and Dalton, ~3.3 GW combined). This makes Hanwha Solutions the primary beneficiary of the IRA domestic content bonus for solar: their Georgia-made modules qualify for the full 10-point domestic content adder, while Chinese-origin modules do not. Hanwha's Korea-origin EVA encapsulant is critical to their supply chain self-sufficiency under IRA traceability requirements.
Hanwha Q Cells ↗