LG

■ LG Chem to scale up its automotive adhesive business to multi-million-dollar unit by 2030
 
■ LG Chem will supply thermally conductive adhesives in the North American market targeting automakers in the U.S.
 
■ LG Chem aims to expand portfolio to diverse adhesives for electronic components, including powertrains, camera sensors, and headlamps
 
 
Seoul, October 30, 2024 – LG Chem announced today that it plans to expand its presence in the global mobility market by supplying thermally conductive adhesives to North American automakers. The company also stated its intention to grow its automotive adhesive business into a multi-million-dollar unit.
 
Thermally conductive adhesives, used to bond battery cells to modules or packs, are essential for thermal management and performance maintenance due to their high thermal conductivity and electrical insulation.
 
LG Chem has production sites in Europe and the U.S. and holds over 180 patents, establishing a technical barrier and providing customized solutions. The company is currently focused on developing products that can contribute to cost reduction and lightweighting for customers.
 
LG Chem entered the automotive adhesive business in North America in 2018 by acquiring Uniseal, a leading U.S.-based automotive adhesive specialist. Recently, Uniseal has succeeded in developing new products for automotive bodies that are free of harmful chemicals and emit less carbon.
 
In addition to thermally conductive adhesives for batteries, LG Chem is developing various adhesive materials, such as polyimide varnishes and silver nano pastes for motors and inverters/converters, in close cooperation with domestic and foreign companies. It is also expanding its adhesives product lineup to include those that can be applied to various electronic components such as camera sensors, headlamps, and in-vehicle displays.
 
The automotive adhesives market is expected to grow from $6.7 billion in 2024 to $13.0 billion in 2030, driven by the rising demand for electronic components due to electrification and autonomous driving, and the increased need for lighter and more eco-friendly materials.
 
“As a leading electronics material supplier in the display and semiconductor industry, we have accumulated technological advancement, including material synthesis, property design, and manufacturing processes,” said Shin Hak-Cheol, CEO of LG Chem. “Based on the expertise, we will actively foster the mobility materials business – as we see it as a future growth area – and strengthen our market position.”