Enchem Strives to Expand North American Market Share... "Expected to Exceed 50% Share This Year"

Global secondary battery electrolyte specialist Enchem announced on the 4th that it is expected to achieve over 50% market share in North America this year. With the total electrolyte production in the North American region projected to reach approximately 900,000 tons by 2026, Enchem plans to supply about 650,000 tons of electrolyte to the local market based on its overwhelming production capacity.

This year, Enchem has begun full-scale electrolyte supply to Tesla and Panasonic, establishing itself as the only company worldwide currently supplying products to all major battery manufacturers in North America. This is because Enchem's technology and product quality are among the world's top levels, and it possesses the largest local single production facility excluding Chinese companies.

To maximize market share based on expanded product supply, Enchem is currently expanding its Georgia Plant 1 by more than 100,000 tons. Additionally, it is securing additional facilities in Tennessee, Kentucky, Texas, and Ontario, Canada, and is pursuing additional funding through local programs for this purpose.

Following its success in the North American market, Enchem is also preparing cooperation with China's mega battery manufacturers aiming to enter Europe and North America. The company targets product supply to the top 15 global companies by the end of next year and is expanding its own production facilities at key battery hubs worldwide, including Poland, Hungary, and France.

Recently, Enchem has diversified its sales pipeline by newly launching businesses in electrolyte raw materials such as lithium salts, additives, and solvents, as well as waste NMP recycling, carbon nanotube (CNT) dispersion, and insulating coating solutions. The company plans to evolve into a comprehensive chemical company covering upstream and midstream sectors beyond just electrolyte production.

The CNT dispersion business is highly related to the waste NMP recycling business, enabling synergy creation such as additional sales acquisition and profit margin maximization. Furthermore, Enchem is constructing the world's largest single lithium salt plant in Saemangeum, aiming for mass production in the second half of next year. It is also preparing to build a liquid lithium salt plant in Georgia, USA.

A company official stated, “The global electrolyte market is currently entering fierce competition to secure economies of scale. Unlike other competitors, Enchem is recognized for conducting business at a higher level, which is reflected in its recent entry into the top 5 companies by market capitalization on KOSDAQ and inclusion in the Morgan Stanley Capital International (MSCI) Korea Index.”

He added, “In the current situation where only the number one company is expected to survive, Enchem will accelerate its aggressive expansion strategy to maintain its current position.”