LG Chem says it is expanding its investment in carbon nanotubes (CNT) with the construction of the “world’s largest single-line CNT manufacturing plant.” The new plant reportedly is part of LG Chem’s initiative to gain a more competitive edge in the rapidly growing global CNT market focused on electric vehicle (EV) battery materials. The CNT conductive additive market is expected to grow by 30% to $2.3 billion contributing to the demand of CNT increasing from 5,000 tons in 2021 to 70,000 tons by 2030, according to the company.
The new facility will be LG Chem’s fourth CNT plant, following plant three which started construction early this year and plant two, which has been operational since last year, according to the company. The new plant will be built in LG Chem’s Daesan Complex, located 80 kilometers southwest of Seoul, with construction commencing in the first half of next year and operation beginning in the second half of 2024.
The 3,200 tons of CNT produced at plant four will contribute to LG Chem’s total carbon nanotube production capacity of 6,100 tons across four plants, according to the company. LG Chem has been operating CNT plants since 2017, starting with 500-ton production at its CNT plant one, and reportedly has been building new plants every year since 2020 to meet growing demand.
Due to the company’s fluidized bed reactor technology, each production line at all four of LG Chem’s CNT plants can produce up to 600 tons on an annual basis, the highest single-line capacity in the world, according to the company. LG Chems says the CNTs produced at the plants are also high-quality as the company’s self-developed cobalt-based catalysts reportedly help lower magnetic impurities that may negatively affect battery quality. Production capacity per capita at LG Chem’s plant four is expected to be 20% higher than its other plants due to efficiencies related to improved reactor stability and process automation.
For more information, visit: www.lgchem.com