Reducing Raw Material Costs by 60%
Contributing to Magnet Supply Chain Stabilization
Significantly Reducing Environmental Pollutants
Developing 'Muhee Rare Earth Magnet' as Well
LG Innotek announced on the 30th that it has succeeded in developing a 'high-performance eco-friendly magnet' with world-class magnetic strength without using any heavy rare earth elements.
Magnets are essential components installed in various products that require actuation, such as smartphone actuators, vehicle motors, and audio speakers. They provide power through the pushing and pulling force of the magnet.
Until now, heavy rare earth elements have been used as the core raw materials of magnets to maintain magnetic strength at high temperatures. However, heavy rare earths are produced only in specific countries such as China, resulting in high price volatility and supply instability due to geopolitical risks. Additionally, the mining process causes severe environmental pollution, making the development of products that do not use heavy rare earths an urgent challenge for the industry.
LG Innotek has developed the industry's first 'high-performance eco-friendly magnet.' This product boasts high durability at elevated temperatures without using any heavy rare earth elements. [Photo by LG Innotek]
The product developed by LG Innotek this time is characterized by not using any expensive heavy rare earths such as Terbium (Tb) and Dysprosium (Dy). LG Innotek collaborated with the Korea Institute of Materials Science to develop a multi-component alloy material that can replace heavy rare earths for the first time in the industry. This alloy material was uniformly applied to the magnet and then heated to be evenly absorbed to produce the product, boasting a magnet performance of 13.8 kG (kilogauss, a unit of magnetic strength), which is the highest level in the industry. It maintains durability even in high-temperature environments up to 180 degrees Celsius.
With the development of the high-performance eco-friendly magnet, LG Innotek has significantly reduced dependence on specific countries for heavy rare earths, contributing to the stabilization of the magnet supply chain. The cost of raw materials required for magnet production has also been reduced to about 60% of the previous level.
Global customers can greatly reduce environmental pollutants during the product manufacturing process. For example, replacing the existing magnets used in electric vehicles with high-performance eco-friendly magnets can reduce about 45 kg of environmental pollutants per electric vehicle. LG Innotek plans to apply the high-performance eco-friendly magnets to its products such as smartphone actuators to further enhance product price competitiveness. At the same time, it will actively promote to global automakers, vehicle parts companies, and smartphone manufacturers to expand application areas to home appliances, robots, and more.
No Seung-won, CTO (Executive Vice President) of LG Innotek, said, "We are currently developing 'rare-earth-free magnets' that completely exclude the use of rare earths, including not only heavy rare earths but also light rare earths," adding, "We will continue to introduce innovative materials and components ahead of others and continuously create differentiated customer value."
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