LG Chem to build carbon nanotube Plant 4 for EV batteries

LG Chem Ltd., South Korea’s chemicals giant, is set to build the world’s largest single-line carbon nanotube (CNT) manufacturing plant in Korea to bolster its competitiveness in the global electric vehicle industry.   

The new plant will be the chemical maker’s fourth CNT manufacturing factory, producing up to 3,200 tons of CNT yearly, LG Chem said on Aug. 30.  

CNT is a next-generation material offering an equivalent level of electricity and thermal conductivity to copper and diamond and with 100 times the strength of steel. The material has a wide range of applications in EV batteries, conductive coatings, automobile electrostatic paint and surface heating elements.    

Plant 4 will raise LG Chem’s annual CNT production capacity to 6,100 tons, the largest in Korea.

The plant will be based in Daesan, 80 kilometers southwest of Seoul, with construction starting in the first half of 2023 and commercial operations commencing in the second half of 2024.     

The combined annual CNT production capacity of Plant 1 and 2 is 1,700 tons, and Plant 3, which is under construction to increase its facilities, produces up to 1,200 tons a year.

LG Chem started operations of Plant 1 in 2017 with 500 tons of CNT production and has expanded the manufacturing facilities every year since 2020.

The fourth plant will also have 20% higher productivity per capita than the other plants by enhancing efficiency in process automation, the firm said.

The chemicals maker’s plants produce high-quality batteries by using cobalt-based catalysts, which lower magnetic impurities, LG Chem said. Ferrum-based catalysts, which are more commonly used in CNT production, have more magnetic impurities than cobalt-based ones and need separate post-treatment, the chemical firm added.    

LG Chem will supply its CNT as a conductive additive to LG Energy Solution Ltd. and other battery makers.

As conductive additives, CNT shows 10% more conductivity than carbon black. This allows battery makers to use 30% fewer conductive additives, fill the batteries with more cathodes and extend their lifespan and capacity.  

The global CNT conductive additive market is expected to grow to $2.3 billion by 2030, in line with increasing demand for the material from 5,000 tons in 2021 to 70,000 tons by 2030, LG Chem said.

Write to Kyung-Min Kang at kkm1026@hankyung.com
Jihyun Kim edited this article.