LG Chem to Expand 'Dream Material' Carbon Nanotube (CNT) Production by 1200 Tons

LG Chem Carbon Nanotube Factory Exterior View

[Asia Economy Reporter Park So-yeon] LG Chem is actively targeting the Carbon Nanotube (CNT) market, known as a dream material.

On the 27th, LG Chem announced that it will invest approximately 65 billion KRW to expand its Carbon Nanotube (CNT) production by 1,200 tons at its Yeosu plant by the first quarter of next year.

Upon completion of the expansion, LG Chem will secure a total production capacity of 1,700 tons, combining the existing 500 tons.

Carbon Nanotubes are next-generation new materials with electrical and thermal conductivity comparable to copper and diamond, and strength 100 times that of steel. Due to these superior properties compared to conventional materials, they are widely used in batteries, semiconductors, automotive parts, and aircraft fuselages.

Regarding the background of this expansion, LG Chem explained that it aims to target the rapidly growing Carbon Nanotube market as a material for lithium-ion batteries, alongside the growth of the global electric vehicle market.

When Carbon Nanotubes are used as cathode conductive agents, they achieve conductivity about 10% higher than conventional carbon black, reducing the amount of conductive agent used by approximately 30%, allowing more cathode material to be filled in the space, thereby increasing the capacity and lifespan of lithium-ion batteries.

Due to these characteristics, the demand for Carbon Nanotubes, centered on the global electric vehicle market, is expected to grow explosively at an average annual rate of 34%, from 3,000 tons last year to 13,000 tons in 2024.

In particular, LG Chem plans to further strengthen product competitiveness by actively applying Carbon Nanotubes to lithium-ion batteries as a global leader in the electric vehicle battery market.

Along with this, LG Chem plans to gradually increase sales targeting global IT material companies and automakers in North America, Europe, and China, and will consider additional expansions in 2022.

Through this investment, LG Chem will be able to accelerate its differentiated technology-based product structure advancement strategy in the petrochemical sector.

LG Chem began full-scale R&D for independent Carbon Nanotube technology development in 2011 and established a 20-ton pilot production line in 2013. In 2014, it developed battery materials and conductive compound products, and currently holds over 250 patents related to Carbon Nanotubes.

Especially, through its self-developed world’s largest fluidized bed reactor, LG Chem has established a mass production system, actively targeting the market with various Carbon Nanotube products ranging from powder forms to compressed forms that are easier for customers to use.

Additionally, LG Chem plans to commercialize various new applications of Carbon Nanotubes, such as heating gang forms (large construction molds), semi-conductive layers inside high-voltage cable coatings, and high-strength concrete for construction.

No Guk-rae, Head of the Petrochemical Business Division, stated, "To survive in the global materials competition, we must lead the market with differentiated technology and products," adding, "In the future, based on independent technology and mass production experience, we will become the overwhelming market leader in next-generation high value-added materials, including Carbon Nanotubes."

This content was produced with the assistance of AI translation services.