Published in Industrial Products and Chemicals category by MBA Skool Team
LG Chem is one of the leading brands in the industrial products and chemicals sector. LG Chem SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of LG Chem:
Steady revenue growth with increasing annual revenue
Battery business with an expected growth to 16 trillion KRW(Korean Won).
First mover’s advantage for the group for entry into the production of lithium-ion batteries.
Tremendous R&D capabilities, which also receives investments up to 16 million KRW.
Above are the strengths in the SWOT Analysis of LG Chem. The strengths of LG Chem looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
LG Chem Weaknesses
Stagnant market share in the sector as better technology & demand drive consumers to turn to competitive players in the market
Over dependence on Petrochemicals which accounts for more than 70 % of the Global revenue for the group
These were the weaknesses in the LG Chem SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
LG Chem Opportunities
Entry into the LCD glass sub-slate business which is an upcoming technology, investments of up to 700 billion KRW.
Overseas expansions in US, UK and the Middle East have created a wider customer base, attracting increased profits & revenues.
Global battery market expected to grow to 50 trillion KRW by 2020, as LG Chem aims to capture market share of the global electric-car battery market.
Above we covered the opportunities in LG Chem SWOT Analysis. The opportunities for any brand can include prospects of future growth.
LG Chem Threats
Uncertain global economic trends as rumors of another Global Recession loom over the world, which may result in lesser purchase of technology and increased losses to the business.
Stringent laws & regulations regarding Petrochemicals and their trade with increasing competition can result in lesser profits and more unfair trade.
Development of electric vehicles such as GM’s Volt, have to increase steadily, otherwise a major chunk of LG Chem’s revenue from the sale of electric batteries will be adversely affected.
The threats in the SWOT Analysis of LG Chem are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the LG Chem SWOT analysis.
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About LG Chem
The table below gives the brand overview along with its target market, segmentation, positioning & USP
LG Chem Overview
Chemicals & polymers, industrial materials, IT & electronic materials
Our world best technology helps your business succeed
From quality petrochemicals to advanced IT and electronic materials, we have innovative solutions you won’t find anywhere else.
LG Chem STP
Businesses looking for growth, performance and innovative solutions.
Businesses in the field of petrochemicals, IT and electronics.
Solution Partner for businesses to help them succeed in the global marketplace.
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