Asia Tech Wire (Oct 30) -- LG Chem, a subsidiary of LG Group, announced on Wednesday that it will supply thermal conductive adhesives to North American electric vehicle companies, formally laying its groundwork in the automotive adhesives market and aiming to expand the business to hundreds of billions of won.

Thermal conductive adhesives are mainly used for bonding between battery cells, modules and packaging, and play an important role in realizing thermal management and maintaining good performance of batteries due to their excellent thermal conductivity and electrical insulation.

LG Chem has officially launched its automotive adhesives business since acquiring Uniseal, a U.S. specialty adhesives manufacturer, in 2018.

According to LG Chem, Uniseal has recently succeeded in developing new eco-friendly products that do not contain harmful substances and reduce carbon emissions.

LG Chem expects the automotive adhesives market to grow from 9 trillion won in 2024 to 16 trillion won in 2030 as automotive electrification and autonomous driving technologies boom and market demand for environmentally friendly materials for complete automotive parts and lightweight bodywork continues to increase.