LG Chem plans to more than triple its carbon nanotube capacity, to 1,700 metric tons per year. The firm says it expects the nanotube market to expand 30% each year through 2024, mostly because of the material’s use in batteries for electric vehicles. LG Chem is also developing uses in construction materials, high-voltage wiring, and other batteries. Other firms are placing similar bets. In April, Cabot paid $115 million for nanotube maker Shenzhen Sanshun Nano New Materials.