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Biz News Korea(Eng)
LG Chem mulls expanding carbon nanotube plant
- Collected
- 2017.11.06
- Distributed
- 2017.11.07
- Source
- Go Direct
LG Chem’s carbon nanotube plant in Yeosu
According to industry sources on Sunday, LG Chem is mulling beefing up its CNT plant in Yeosu, South Jeolla Province that began mass production upon completion in February and will become fully operational late 2018 with a 400-ton annual capacity.
Carbon nanotubes are light but 100 times stronger than steel with excellent electrical conductivity. These novel properties make them useful in a range of applications including batteries, semiconductors, auto parts and aircraft. CNT materials are mainly used to make batteries for smartphones, semiconductors and other electronic devices but demand could jump once the material is applied to charge electric vehicles.
LG Chem plans to ready CNT-backed batteries to power vehicles by 2019. It estimates that 80 percent of global CNT output will go to make rechargeable batteries powering up to 4 million electric cars by 2020.
Market insiders project that by 2020, the global CNT market will be worth 80 billion won ($71.5 million) with an annual capacity of 2,000 tons. Related material industries are also predicted to more than double within the next three years.
Polyvinyl chloride, a widely used chemical material, is priced between 0.8 million and 1 million won but CNT is considered more profitable as it is 40 times more expensive, costing 40 million won per ton.
As of 1:16 p.m., shares of LG Chem were down 1.45 percent at 408,000 won.
By Kim Jung-hwan and Kim Hyo-jin
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