LG Chem Drives into the Future; Plans to Expand Automotive Adhesive Business

LG Chem, a global leader in advanced materials, has announced its strategic move to significantly expand its footprint in the automotive adhesive market. The company aims to transform its automotive adhesive business into a multi-million-dollar unit by 2030. LG wants to capitalize on the burgeoning demand for innovative solutions in the electric vehicle (EV) and autonomous driving sectors.

A key component of this expansion is the supply of thermally conductive adhesives to North American automakers. These high-performance adhesives play a crucial role in optimizing the thermal management of battery cells, modules, and packs, ensuring optimal performance and longevity.

LG Chem's commitment to technological innovation is evident in its extensive patent portfolio of over 180 patents. This robust intellectual property foundation enables the company to offer customized solutions tailored to specific customer needs. Furthermore, LG Chem is actively developing products that contribute to cost reduction and weight reduction. Making them at par with the industry's ongoing pursuit of efficiency and sustainability.

Beyond thermal management solutions, LG Chem is broadening its automotive adhesive portfolio to encompass a wide range of applications. The company is collaborating with domestic and international partners to develop advanced materials such as polyimide varnishes and silver nano pastes for critical components like motors, inverters, and converters.

Additionally, LG Chem is expanding its product lineup to include adhesives suitable for various electronic components, that include camera sensors, headlamps, and in-vehicle displays. This comprehensive approach enables the company to address the diverse needs of the automotive industry and position itself as a leading provider of adhesive solutions.

The global automotive adhesive market is poised for a significant growth, driven by factors such as the increasing electrification of vehicles, the adoption of autonomous driving technologies, and the growing demand for lightweight and eco-friendly materials. By leveraging its strong technological foundation, extensive industry experience, and strategic partnerships, LG Chem is well-positioned to capitalize on this market opportunity.

Shin Hak-Cheol, CEO of LG Chem, emphasized the company's commitment to the mobility materials business, "As a leading electronics material supplier in the display and semiconductor industry, we have accumulated significant technological advancements. We will actively foster the mobility materials business as a future growth area and strengthen our market position."

With its focus on innovation, sustainability, and customer satisfaction, LG Chem is set to drive the future of the automotive adhesives and contribute to the development of a cleaner, smarter, and more efficient vehicles.