LG Chem announced on May 31 that it has started construction of its fourth carbon nanotube (CNT) plant in Daesan, Chungcheongnam-do, South Korea.
With the recent operation of its CNT 3 plant in Yeosu, which expanded to 1,200 tons of annual production, LG Chem has achieved a total production capacity of 2,900 tons. Upon completion of the fourth plant, with an annual capacity of 3,100 tons, the company's overall production size will more than double to 6,100 tons per year.
CNT is a cutting-edge material known for its electrical and thermal conductivity, comparable to copper and diamonds, and its exceptional strength, surpassing steel by 100 times. It finds diverse applications in areas such as electric vehicle batteries, semiconductor process trays, and automobile electrostatic coating exterior materials.
LG Chem's continuous expansion of CNT production capacity stems from its desire to establish a strong competitive advantage in the rapidly growing global CNT market, particularly in battery materials. Since its initial operation of a 500-ton CNT plant in 2017, LG Chem has consistently expanded its CNT facilities each year, culminating in the current expansion efforts.
Explaining the technology behind their CNT production, LG Chem stated, "Our CNT plant utilizes a self-developed fluidized bed reactor, enabling mass production of up to 600 tons per year per production line. This represents the world's largest capacity for a single line." The fluidized bed reactor employs a method that significantly enhances CNT productivity by rotating CNT powder within the reactor.
Moreover, LG Chem emphasized that they employ a cobalt-based catalyst based on proprietary technology, which reduces the presence of magnetic foreign substances that could impact battery quality, resulting in superior product quality on a global scale.
LG Chem intends to supply its CNT to battery companies, including LG Energy Solution, for the production of cathode conductive materials. The cathode conductive material facilitates the flow of electricity and electrons and serves as an additive for lithium-ion batteries as a whole.
By enhancing the conductivity of lithium ions within the cathode material composed of active materials like nickel, cobalt, and manganese, the CNT additive contributes to increased charging and discharging efficiency, subsequently boosting battery capacity and lifespan.
According to LG Chem, the use of CNT as a cathode conductive material can reduce the requirement for conductive materials by approximately 30% while achieving more than a 10% increase in conductivity compared to conventional carbon black. This improvement allows for increased anode material utilization, leading to enhanced battery capacity and lifespan.
Meanwhile, industry projections indicate that global CNT demand will soar from 14,000 tons in the previous year to 95,000 tons by 2030, representing an average annual growth rate of around 30%, as per the battery industry's estimates.
Considering the continuous growth of the CNT market and future market conditions, LG Chem is actively exploring further expansion opportunities.
