According to the latest news, LG Chem is investing 65 billion KRW ($53 million) to expand production capacity of carbon nanotubes (CNT) at its Yeosu plant in South Korea by 1,200 tons annually (from 500 tons to 1,700 tons) by Q1 2021.Global demand for CNT was reportedly 3,000 tons annually, which means that LG Chem already controlled one-sixth of the market and now will increase its output by 240%.The main reason for the expansion is lithium-ion batteries. In particular, batteries for electric cars.
