LG Chem Ltd., South Korea’s leading chemicals company, has recently commenced the construction of its fourth carbon nanotube (CNT) plant in the country. The new facility, named CNT 4, will be located in LG Chem’s Daesan complex, situated in Seosan, approximately 83 kilometers away from Seoul.
This expansion aims to significantly increase the production capacity of CNT, a crucial industrial material, over the next few years. With the addition of CNT 4, LG Chem’s total CNT production capacity will reach 6,100 tons by its anticipated operational date in 2025, more than doubling its current capacity of 2,900 tons.
Carbon nanotubes are considered next-generation materials due to their exceptional electrical and thermal conductivity, surpassing even copper and diamonds. Furthermore, they possess remarkable strength, being over 100 times stronger than steel. These properties make CNTs highly valuable in various industries. They are used as additives in lithium-ion batteries for electric vehicles to enhance the flow of electricity, thus enabling more powerful and longer-lasting batteries. CNTs also find applications in semiconductors, automotive parts, and aircraft fuselages, among others.
LG Chem currently operates three CNT plants in South Korea, with the latest addition being the CNT 3 plant located in Yeosu, around 300 kilometers southwest of Seoul. The recent completion of the CNT 3 plant marks its full-scale operation. The forthcoming CNT 4 plant, to be situated in the Daesan complex, will significantly augment LG Chem’s CNT production capacity. The increased output will be supplied to LG Energy Solution Ltd., a subsidiary of LG Chem, as well as other clients.
LG Chem’s strategic move to expand its CNT production capacity underscores its ambition to capture a significant share of the global CNT market. These advanced materials have diverse applications, including batteries, conductive paints, and surface heating elements. Notably, CNTs exhibit remarkably high heat conductivity comparable to diamond crystals and copper. In terms of electrical conductivity, CNTs outperform carbon black, a commonly used material in cathode production, by more than 10%. Moreover, CNTs facilitate the expansion of cathode volume in batteries, thereby enhancing cell capacity and lifespan.
Recognizing the potential of CNTs and their impact on the battery material industry, LG Chem established a dedicated team earlier this year to explore the development and utilization of these materials. The company aims to leverage its substantial CNT production capacity in Korea to strengthen its competitive edge in the market. LG Chem also intends to proactively explore new markets with high growth potential.