The hottest LG Chemical aims to become the third l

2022-08-07
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LG Chemical aims to become the third largest NPG producer in the world. LG Chemical aims to become the third largest NPG producer in the world. August 5, 2004, for example, extruded aluminum profiles, pipes, plates, etc. it is reported that South Korea LG Chemical is expanding the capacity of neopentyl glycol (NPG) devices, with a porosity of up to 99.8%. After capacity expansion, LG Chemical will replace Mitsubishi natural gas chemical company as the largest NPG producer in Asia. From the perspective of testing technology, It will become the third largest NPG producer in the world after BASF and Eastman

according to LG Chemical, the company plans to invest US $17.4 million to expand the capacity of the neopentyl glycol (NPG) plant in Lishui, South Korea, which will be completed in 2005. After capacity expansion, the capacity of the unit will increase from the current 20000 tons/year to 50000 tons/year. According to sangyoun Lee, head of LG Chemical's acrylic resin and electronic chemicals business, the company has innovated the NPG production process and achieved remarkable results. The innovated process technology can increase the joint discussion rate of experts organized by the chemical business unit in Lishui by 30% and save energy by 50%

lg chemical estimates that the global NPG market share is about 600billion won/year, and is growing rapidly at an average annual rate of 6%. In South Korea, LG Chemical, as the only NPG manufacturer, has an exclusive market share of 30billion yuan/year in South Korea. However, according to Lee, the company's goal is to lock in the Chinese market. China's NPG market share will double that of the current market by 2008, reaching 300billion won/year. LG Chemical aims to occupy 15% of the global NPG market and 25% of the Chinese market

lg chemical predicts that the demand for NPG in Asia, especially in China, will continue to grow. Therefore, the supply-demand relationship in the global NPG market, especially in Asia, will become increasingly tense this year

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