Japanese firm Toho Tenax, a part of the Teijin Group’s carbon fibres and composites business, has set up a subsidiary in Singapore to strengthen the group’s business operations in India and the ASEAN region, where the demand for carbon fibre is expected to increase rapidly.

Having absorbed the existing local office that was established in 2010 to conduct research to identify demand and provide customer services in India, Singapore, Thailand, Vietnam and Oceania, the new company will serve as Toho Tenax’s base for developing business and sales expansion in these promising markets.

“Market development in India, the ASEAN region and Oceania is a high priority for our growth,” said Jun Suzuki, president of Toho Tenax. “We are actively pursuing collaborations with local companies, aiming to quickly strengthen our presence in these fast-growing markets. The new company has an important role to play in this process.”

The demand in Asia for carbon fiber is expected to rise rapidly, especially for industrial applications such as pressure vessels, wind turbine generators and casings for home electronics.