Amid a slowdown in global petrochemical demand and ongoing uncertainties, LG Chem is restructuring its business priorities to enhance its core capabilities in high-value sectors.
According to industry sources on September 21, LG Chem is expanding its existing three growth drivers—sustainability, battery materials for e-mobility, and global innovative pharmaceuticals—by adding a 'High-Value Specialty' category, creating a framework of four key growth drivers.
In the battery materials sector, LG Chem is broadening its portfolio to include high-voltage mid-nickel, LMR, LFP, and sodium-ion batteries, while improving cost competitiveness and responsiveness in the North American supply chain. The electronics materials segment is also expanding into AI, semiconductor packaging, automotive adhesives, thermal materials, and vehicle display materials.
In pharmaceuticals, the company is expanding its clinical pipeline focused on oncology while also broadening its existing product lines to include women's health, osteoporosis, and precocious puberty. It is enhancing its global development and sales capabilities based on partnerships with AVEO in the U.S. and local partners in China.
The sustainability business is growing around low-carbon products such as PCR recycled materials and bio-based BCB, HVO, and SAF. The company is also securing next-generation technologies like methane dry reforming (DRM) and e-SAF, while strengthening its global eco-friendly certifications and life cycle assessment (LCA) systems.
In the petrochemical sector, LG Chem is reducing its reliance on commodity products and shifting towards specialty products for growth industries such as automotive, semiconductors, and electronics. The company is increasing its focus on high-value materials, including high-performance ABS, SSBR for electric vehicle tires, high-purity IPA for semiconductors, and aerogels.
* This article has been translated by AI.
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