On April 27, LG Chem announced that it will actively develop the carbon nanotube (CNT) market known as "super materials". It is expected to expand its production line with an annual production capacity of 1,200 tons at the Yeosu plant in South Korea by the first quarter of next year. At present, LG Chemical's annual production capacity of carbon nanotubes is 500 tons, which will reach 1,700 tons when the expansion is completed. The expansion is mainly to meet the explosive demand for battery positive conductive materials brought by the growth of the global electric vehicle market.
Aiming at the rapidly growing carbon nanotube market
As a new generation of new materials, carbon nanotubes have the same electrical conductivity and thermal conductivity as copper and diamond, and the strength is 100 times that of steel. Because its performance far exceeds the existing raw materials, it is widely used in batteries, semiconductors, auto parts, and aircraft fuselages.
When carbon nanotubes are used as battery positive electrode conductive materials, their electrical conductivity is increased by more than 10% compared with conventional carbon black, which can save about 30% of the amount of conductive material, and fill more positive electrode materials in the saved space, so that the capacity of the lithium battery And life expectancy increases. Because of this excellent characteristic, the market demand for carbon nanotubes is expected to increase from 3,000 tons last year to 13,000 tons in 2024, maintaining an average annual growth rate of 34%.
As one of the global leaders in the electric vehicle battery market, LG Chem plans to actively use carbon nanotubes in the field of lithium batteries in the future to enhance product competitiveness. In addition, it will gradually increase the supply of carbon nanotubes to North American, European, Chinese and other global IT material companies and vehicle customers, and plans to continue to study and expand the production capacity of carbon nanotubes in 2022.
Focus on the future market with mass production based on original technology
Through this investment, LG Chem will further accelerate the upgrading of product structure based on differentiated technologies in the petrochemical industry. LG Chem officially launched the technology research and development of carbon nanotubes in 2011. In 2013, a 20-ton pilot production line was established. In 2014, it successfully developed battery materials and conductive composite products. In the field of carbon nanotubes alone, it has more than 250 Patented, and established a large-scale production system through the independently developed world's largest fluidized bed reactor.
LG Chem's various carbon nanotube products range from powders to compressed forms that are convenient for customers to actively meet customer needs. In the future, a variety of new uses of carbon nanotubes such as heating templates (large formwork for construction), semi-conductive layers in high-voltage cable jackets, and high-strength building concrete will also be developed.
Lu Guolai, President of LG Chemical Petrochemical Division, said: "In order to win in the global material competition, we must continue to develop differentiated innovative technologies and products. LG Chem will continue to rely on original technology and large-scale in the next generation of high value-added materials in the future. Production experience leads the market and provides customers with higher value. "