LG Chem Ltd. initiated the construction of a plant for supercritical pyrolysis and aerogel production in Seongmun National Industrial Complex, located 150 kilometers southwest of Seoul.
With an investment of 310 billion won ($238.6 million), this new facility will enhance LG Chem’s plastic recycling businesses and enable the production of aerogel insulation material using the company’s in-house technology.
Supercritical Pyrolysis Technology for Plastic Recycling
The South Korean company is set to establish the first supercritical pyrolysis factory in Korea, which will utilize steam to decompose plastic at high temperatures and pressure beyond the critical point of water. This process generates pyrolysis oil, a liquid substance that can be used for combustion in boilers and fuel in engines. The global market for pyrolysis oil chemical recycling is predicted to grow at an average annual rate of 17% to reach 3.3 million tons in 2030, according to the petrochemical industry.
Aerogel Production with In-house Technology
LG Chem’s new plant will also manufacture aerogel, an ultralight material that is more than 95% composed of gas, making it highly resistant to water and fire. Aerogel is an effective insulation material that can minimize heat loss when storing and transporting eco-friendly energy, such as liquid hydrogen. By utilizing their own technology, LG Chem aims to produce high-quality aerogel that meets market demand.
Expected Commencement of Operation
The company aims to begin the operation of the facility in 2024. With this investment in plastic recycling and aerogel production, LG Chem is contributing to a sustainable future by reducing plastic waste and enabling the development of eco-friendly energy storage and transportation.