SK Enmove targets global market with ZIC e-Flo product range
SK Enmove, a subsidiary of South Korean conglomerate SK Group, is expanding its finished lubricant brand ZIC. The company aims to dominate the global electrical efficiency market by 2040. This market, with its vast potential, is projected to be valued at KRW54 trillion (USD40.6 billion).
On September 5, the company showcased its future aspirations at the “ZIC Brand Day” held at the prestigious Walkerhill Hotel in Seoul, South Korea. The event, attended by more than 150 attendees including SK Enmove CEO, Park Sang-kyu, media representatives, and company employees, marked a significant milestone in the company’s journey.
With its eyes set on the future, SK Enmove plans to provide all-encompassing fluids pivotal for electrical efficiency, the cornerstone of future energy solutions. These fluids will play a crucial role in the energy transition.
CEO Park Sang-kyu, emphasising the brand’s evolution, stated, “The ZIC brand will transcend its existing engine oil products, leading the charge into the new energy efficiency market.” He further highlighted SK Enmove’s transformative journey, aiming to be a world-class leader in the global lubricant market.
SK Enmove is venturing into the electrical efficiency market with its “ZIC e-Flo” product range. These products are designed to optimise electrical efficiency across various sectors, including electric vehicles, data centers, and EV batteries.
The electric vehicle (EV) segment, in particular, presents a lucrative opportunity. With predictions suggesting that EVs will constitute 48% of all vehicles by 2040, the EV lubricant market is poised to skyrocket to KRW12 trillion (USD9 billion). SK Enmove, leveraging its advanced technology and raw material expertise, is determined to be at the forefront of this evolution.
Thermal management: The next frontier
As the world becomes increasingly electrified, effective thermal management becomes paramount. Recognising this, SK Enmove is actively exploring this sector, especially the immersion cooling segment, which is expected to burgeon from KRW1 trillion (USD752 million) in 2020 to a staggering KRW42 trillion (USD31.6 billion) by 2040.
Liquid immersion cooling (LIC), a state-of-the-art thermal management technology, offers enhanced cooling efficiency, especially for data centers. SK Enmove, with its strategic investments and partnerships, is collaborating with Dell Technologies, to become a global leader in this domain.
While EVs gain traction in the West, the demand for internal combustion engines (ICE) is surging in regions like Southeast Asia, Southwest Asia, and the Middle East. SK Enmove, leveraging ZIC’s premium low-viscosity engine oils, aims to capture a significant market share in these regions as well.