LG Chem plans fourth plant to meet EV battery demand

LG Chem expects its fourth carbon nanotube plant (CNT) to be completed by the second half of 2024 as part of its aim to gain a more competitive edge in the rapidly growing global CNT market focused on EV battery materials.

The new plant will be equipped with world’s largest single-line carbon nanotube (CNT) production to deliver 20% higher production capacity per capita.

Plant 3 started construction early this year and Plant 2 which has been operational since last year, the fourth plant being added to LG Chem’s Daesan Complex, 80km southwest of Seoul.

CNT is a next-generation material offering the equivalent level of electricity and thermal conductivity as copper and diamond and 100 times the strength of steel.

Due to its excellent properties, CNT has an infinite range of applications in batteries, semiconductor wafer trays, automotive components, and surface heating elements.

The global CNT conductive additive market is expected to grow by 30% to US$2.3 billion contributing to the demand of CNT increasing from 5000 tons in 2021 to 70,000 tons by 2030, says LG Chem.

The 3200 tons of CNT produced at Plant 4 will contribute to LG Chem’s total carbon nanotube production capacity of 6100 tons across four plants.

The CNTs produced at the plants are high-quality as LG Chem’s self-developed cobalt-based catalysts help lower magnetic impurities which may negatively affect battery quality.

CNTs produced by LG Chem will be supplied as conductive additives to battery makers such as LG Energy Solution, a leader in the global EV battery market, with plans for usage to be expanded to a broader range of industries.

When used as a conductive additive, CNT demonstrates 10% more conductivity than carbon black, allowing battery makers to use 30% less conductive additives, LG Chem explains.

“The available space can then be filled with cathodes for higher capacity and longer lifespan without increasing the overall size of the battery.”

CNTs are also being considered attractive futuristic conductive additives for even anodes and next-generation batteries such as lithium-sulphur and solid-state batteries.

“LG Chem is continuously increasing its sales from newly secured battery customers including LG Energy Solutions and is strongly committed to become a trustworthy world-class CNT supplier for global automakers,” says LG Chem’s petrochemical business head Noh Kug-lae.

It is also planning to introduce CNT to new categories such as conductive paints, heating materials (to prevent black ice on roads) and semiconductor wafer trays.