Lotte Chemical LFT Material Selected as '2024 World-Class Product'

Superior Strength Compared to Conventional Short Fiber Products
30% Lighter Than Steel
"Responding to Electric Vehicle Market Growth"

Lotte Chemical announced on the 20th that its developed 'Thermoplastic Long Fiber Composite (LFT)' product has been selected as a '2024 World-Class Product.'

The World-Class Product is an official certification system organized by the Ministry of Trade, Industry and Energy and operated by the Korea Trade-Investment Promotion Agency (KOTRA) to select and support excellent products from domestic companies, contributing to securing future export engines and expanding global market share.

Lee Chang-wook, Head of Mobility Marketing Division at Lotte Chemical (second from the left), is receiving the 2024 World-Class Product Certification on the 19th. Photo by Lotte Chemical

World-Class Products are selected from products that rank within the top 5 in global market share and have a global market size of over 50 million USD annually or export over 5 million USD annually.

Lotte Chemical's LFT is a high value-added product made by mixing long fibers into a base resin, which increases strength while being approximately 30% lighter than steel. It is suitable for both injection and extrusion molding, and is stronger and more durable than conventional short fiber products, making it applicable in various fields such as mobility structures, home appliances, and industrial materials.

Lotte Chemical stated, "With the growth of electric vehicles and increasing demand for lightweight materials, we will further solidify our position as a global leader through continuous technological innovation and expansion of various applications."