E-World Tech, which is established in 2016 and the partner company of CMS, is specialized in manufacturing etched-metal interior and exterior parts of vehicles, such as door scuff & step, speaker grille, brake pedal, transverse trim and pillar garnish.
The company plans to launch its brand in the United States by supplying its Korean-made parts to cars in America through OEM manufacturing. It also plans to expand its B2B business by applying its etching technology to other industrial parts.
Etching technology is applied to automotive interior and exterior parts, electronic parts, and household items. Micro photo etching, a precision corrosion process, is used on mobile phones. Etching technology is needed to manufacture vegetable juicers as well. The technology has a large potential market as it is applicable to the surfaces of various products.
“The market for etching technology is expected to expand from car parts to many other finished products,” chief executive of E-World Tech said, “We will double down on plans to advance to the global market.”
According to global market news provided by the KOTRA in 2017, the car parts industry in the US was estimated to be worth about $64.6 billion in terms of annual sales. The growth of the industry slowed slightly in 2017, but innovative technologies were projected to increase production and demand for the next five years.