{"slug":"advanced-nano-products","name":"나노신소재","name_en":"Advanced Nano Products","ticker":"121600.KQ","updated_at":"2026-07-12T03:56:29.332+00:00","canonical":"https://valuechain.wiki/advanced-nano-products","citable":"밸류체인 그래프 기준 나노신소재의 직접 연결 기업은 3곳(관계 기준 공급 0·매출 3)이고, 사슬을 2차까지 넓히면 9곳에 닿는다. 링크의 근거 출처는 4건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Advanced Nano Products is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 9 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"코스닥 · 배터리 소재 · CNT 도전재 양·음극 국내 유일","kicker_en":"KOSDAQ · Battery materials · Only Korean cathode+anode CNT additive","lead":"나노신소재는 이차전지용 탄소나노튜브(CNT) 도전재를 국내에서 유일하게 양극·음극 모두에 공급하는 소재 기업이다. 2025년 연결 매출은 1,117억원으로, 이차전지 소재(CNT 도전재)가 663억원(59.4%)을 차지해 성장을 주도했다. 반도체 CMP 슬러리, 디스플레이·태양전지용 TCO 타겟, 중공실리카 등도 함께 생산한다. 미국·중국·일본·폴란드에 생산 법인을 두고 LG에너지솔루션·삼성SDI·SK온 등 글로벌 배터리 셀 업체에 납품한다.","lead_en":"Advanced Nano Products is the only Korean supplier of carbon nanotube (CNT) conductive additives for both the cathode and the anode of lithium-ion batteries. FY2025 consolidated revenue was KRW 111.7 billion, with battery materials (CNT additives) contributing KRW 66.3 billion, or 59.4 percent, and driving growth. It also makes semiconductor CMP slurry, TCO sputtering targets for displays and solar cells, and hollow silica. With production entities in the US, China, Japan and Poland, it supplies global cell makers including LG Energy Solution, Samsung SDI and SK On.","segments":{"parts":[{"name":"이차전지 소재 (CNT 도전재)","note":"2025년 663억원, 매출의 59.4%"},{"name":"반도체 소재 (CMP 슬러리)","note":"2025년 108억원, 9.7%"},{"name":"디스플레이 소재 (TCO 타겟·중공실리카)","note":"2025년 77억원, 6.9%"},{"name":"태양전지 소재 (TCO 타겟)","note":"2025년 29억원, 2.6%"},{"name":"기타 (열차단 필름·기능성 소재)","note":"2025년 240억원, 21.5%"}]},"segments_en":{"parts":[{"name":"Battery materials (CNT additive)","note":"KRW 66.3bn in 2025, 59.4% of sales"},{"name":"Semiconductor materials (CMP slurry)","note":"KRW 10.8bn in 2025, 9.7%"},{"name":"Display materials (TCO targets, hollow silica)","note":"KRW 7.7bn in 2025, 6.9%"},{"name":"Solar materials (TCO targets)","note":"KRW 2.9bn in 2025, 2.6%"},{"name":"Other (heat-blocking film, functional materials)","note":"KRW 24.0bn in 2025, 21.5%"}]},"returns_yearly":{"2021":56.8,"2022":66.4,"2023":13.9,"2024":-30.9,"2025":5.5,"2026":-32.8},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"mazda-motor","name":"마쓰다","name_en":"Mazda Motor","tier":3,"returns_yearly":{"2021":18.8,"2022":22.8,"2023":81.1,"2024":-39,"2025":17.3,"2026":-3.2}},{"slug":"honda-motor","name":"혼다","name_en":"Honda Motor","tier":2,"returns_yearly":{"2021":25.8,"2022":-0.8,"2023":62.2,"2024":-8,"2025":10,"2026":-1.2}},{"slug":"general-motors","name":"제너럴 모터스","name_en":"General Motors","tier":2,"returns_yearly":{"2021":40.8,"2022":-42.4,"2023":7.9,"2024":49.8,"2025":54.2,"2026":-3.8}},{"slug":"hyundai-motor-company","name":"현대차","name_en":"Hyundai Motor Company","tier":2,"returns_yearly":{"2021":-16.7,"2022":-4.7,"2023":16.2,"2024":12.3,"2025":158.8,"2026":-7.8}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":2,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-9.3}},{"slug":"nissan-motor","name":"닛산자동차","name_en":"Nissan Motor","tier":2,"returns_yearly":{"2021":14.2,"2022":-23,"2023":30.6,"2024":-25.4,"2025":-11.8,"2026":-17.7}},{"slug":"toyota","name":"Toyota Motor Corporation","name_en":"Toyota Motor Corporation","tier":2,"returns_yearly":{"2021":58.1,"2022":-13.4,"2023":63,"2024":1.8,"2025":21.8,"2026":-18.2}},{"slug":"samsung-sdi","name":"삼성SDI","name_en":"Samsung SDI","tier":1,"returns_yearly":{"2021":-19,"2022":15.8,"2023":-45.7,"2024":-40.2,"2025":75.7,"2026":11.3}},{"slug":"sk-innovation","name":"SK이노베이션(SK온)","name_en":"SK Innovation (SK On)","tier":1,"returns_yearly":{"2021":-22.9,"2022":-22.4,"2023":-26.2,"2024":8.9,"2025":-10.6,"2026":-8.1}},{"slug":"lg-energy-solution","name":"LG에너지솔루션","name_en":"LG Energy Solution","tier":1,"returns_yearly":{"2023":-26.9,"2024":-7.6,"2025":13.1,"2026":-18.1}}],"benefiting":[],"analysis":"투자 논점은 CNT 도전재라는 배터리 필수 첨가재에서 국내 유일 양·음극 동시 공급이라는 병목형 지위다. 2025년 이차전지 소재 매출 663억원(전체의 59.4%, +65.3%)으로 성장을 끌었고 이 중 590억원이 수출이라, LG에너지솔루션·삼성SDI·SK온의 미국·유럽 현지 셀 증설에 직접 연동된다 — 미국·폴란드 CNT 공장으로 현지 대응하는 구조가 진입장벽이다. 실리콘 음극 채택이 늘수록 팽창을 억제하는 단일벽 CNT 수요가 커져 소재 단가·물량이 함께 오르는 레버리지가 있고, CMP 슬러리·TCO 타겟 등 반도체·디스플레이 소재가 배터리 사이클을 보완한다. 위험은 매출의 60%가 배터리 3사에 쏠려 전방 EV·셀 증설이 지연되면 실적이 크게 흔들리고, CNT 파우더 등 원재료(원재료의 82.9%) 가격·조달에 원가가 좌우된다는 점이다.","analysis_en":"The thesis is a bottleneck position as the only Korean supplier of CNT conductive additives for both cathode and anode — an essential battery additive. FY2025 battery-materials revenue of KRW 66.3bn (59.4% of total, +65.3%) drove growth, and KRW 59.0bn of it was exports, so it is tied directly to LG Energy Solution, Samsung SDI and SK On's local cell expansion in the US and Europe — serving them from local CNT plants in the US and Poland is the moat. As silicon-anode adoption grows, demand for single-wall CNTs that suppress swelling rises, lifting both material price and volume, while semiconductor/display materials (CMP slurry, TCO targets) cushion the battery cycle. Risks: 60% of revenue is concentrated in the three cell makers, so delays in EV/cell expansion swing results sharply, and costs hinge on CNT-powder raw materials (82.9% of raw materials).","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"배터리 3사 (LG엔솔·삼성SDI·SK온, CNT 도전재)","counterparty_slug":null,"confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"국내 유일 양극·음극 CNT 도전재 동시 생산 기업으로 LG에너지솔루션·삼성SDI·SK온 등 배터리 셀 업체에 납품. 2025년 이차전지 소재 매출 663억원(전체의 59.4%, 전년 402억원 대비 +65.3%)으로 이 중 수출이 590억원. 사업보고서 주요 고객 A/B/C사 매출 비중 17.0%·9.7%·7.7%. CNT 도전재 슬러리 캐파 2025년 약 4만톤(2023년 1.5만→2024년 2.5만).","note_en":"The only Korean firm producing CNT additives for both cathode and anode, supplying cell makers LG Energy Solution, Samsung SDI and SK On. FY2025 battery-materials revenue was KRW 66.3bn (59.4% of total, up 65.3% from KRW 40.2bn), of which KRW 59.0bn was exports. The filing's top customers A/B/C represent 17.0%, 9.7% and 7.7% of sales. CNT additive slurry capacity reached roughly 40,000 tons in 2025 (from 15,000 in 2023 and 25,000 in 2024).","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-20","url":"https://opendart.fss.or.kr/api/document.xml?rcept_no=20260320001026","title":"나노신소재 사업보고서 (2025.12)","title_en":"Advanced Nano Products Annual Business Report (FY2025)","excerpt":"이차전지 소재(CNT 등) 66,338백만원(59.4%) — 수출 59,028백만·내수 7,310백만. 주요 고객 A사 190.28억(17.0%)·B사 108.47억(9.7%)·C사 86.01억(7.7%).","excerpt_en":"Battery materials (CNT etc.) KRW 66,338m (59.4%): exports 59,028m, domestic 7,310m. Top customers A KRW19.0bn (17.0%), B KRW10.8bn (9.7%), C KRW8.6bn (7.7%)."},{"stance":"mentions","publisher":"아시아경제","publisher_en":"The Asia Business Daily","kind":"news","lang":"en","published_at":"2026-01-05","url":"https://www.asiae.co.kr/en/article/2026010510544065612","title":"배터리 도전재 2035년 3.07조원 시장으로 성장","title_en":"Conductive Additives for Lithium-Ion Batteries to Grow into 3 Trillion Won Market by 2035","excerpt":"LG엔솔·SK온·삼성SDI가 음극에 단일벽 CNT 채택 확대 계획 — 실리콘 음극 팽창 억제.","excerpt_en":"LG Energy Solution, SK On and Samsung SDI plan to adopt more single-wall CNTs in anodes to suppress silicon-anode swelling."},{"stance":"mentions","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2024-11-07","url":"https://www.finance-scope.com/article/view/scp202411070013","title":"나노신소재, LG엔솔·삼성SDI 납품 위한 미국·폴란드 CNT 공장","title_en":"Advanced Nano Products builds US and Poland CNT plants to supply LG and Samsung SDI","excerpt":"LG엔솔·삼성SDI 납품 위해 미국·폴란드 CNT 공장 증설.","excerpt_en":"Expands US and Poland CNT plants to supply LG Energy Solution and Samsung SDI."},{"stance":"confirms","publisher":"미래에셋증권","publisher_en":"Mirae Asset Securities","kind":"research","lang":"ko","published_at":"2024-07-01","url":"https://securities.miraeasset.com/bbs/download/2129977.pdf?attachmentId=2129977","title":"나노신소재 커버리지 개시 — 목표주가 13.5만원, 매수","title_en":"Advanced Nano Products coverage initiation — TP KRW135,000, Buy","excerpt":"CNT 도전재 매출 2025년 624억원(+55.3%) 전망, 목표주가 13.5만원으로 커버리지 개시. LG엔솔·삼성SDI·SK온·노스볼트 고객.","excerpt_en":"Forecasts 2025 CNT additive revenue of KRW 62.4bn (+55.3%); initiates coverage at TP KRW135,000. Customers LG ES, Samsung SDI, SK On, Northvolt."}]},{"direction":"revenue","counterparty":"LG에너지솔루션","counterparty_slug":"lg-energy-solution","confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"LG에너지솔루션에 양극·음극 CNT 도전재 공급. 미국·폴란드 현지 CNT 공장으로 대응.","note_en":"Supplies cathode and anode CNT additives to LG Energy Solution, served from local CNT plants in the US and Poland.","sources":[{"stance":"mentions","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2024-11-07","url":"https://www.finance-scope.com/article/view/scp202411070013","title":"나노신소재, LG엔솔·삼성SDI 납품 위한 미국·폴란드 CNT 공장","title_en":"Advanced Nano Products builds US and Poland CNT plants to supply LG and Samsung SDI","excerpt":"LG엔솔·삼성SDI 납품용 미국·폴란드 공장.","excerpt_en":"US and Poland plants to supply LG ES and Samsung SDI."},{"stance":"mentions","publisher":"미래에셋증권","publisher_en":"Mirae Asset Securities","kind":"research","lang":"ko","published_at":"2024-07-01","url":"https://securities.miraeasset.com/bbs/download/2129977.pdf?attachmentId=2129977","title":"나노신소재 커버리지 개시 — 목표주가 13.5만원, 매수","title_en":"Advanced Nano Products coverage initiation — TP KRW135,000, Buy","excerpt":"나노신소재 CNT 도전재 주요 고객으로 LG엔솔·삼성SDI·SK온 열거.","excerpt_en":"Lists LG ES, Samsung SDI and SK On as key CNT-additive customers."}]},{"direction":"revenue","counterparty":"삼성SDI","counterparty_slug":"samsung-sdi","confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"삼성SDI에 양극·음극 CNT 도전재 공급.","note_en":"Supplies cathode and anode CNT additives to Samsung SDI.","sources":[{"stance":"mentions","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2024-11-07","url":"https://www.finance-scope.com/article/view/scp202411070013","title":"나노신소재, LG엔솔·삼성SDI 납품 위한 미국·폴란드 CNT 공장","title_en":"Advanced Nano Products builds US and Poland CNT plants to supply LG and Samsung SDI","excerpt":"LG엔솔·삼성SDI 납품용 미국·폴란드 공장.","excerpt_en":"US and Poland plants to supply LG ES and Samsung SDI."},{"stance":"mentions","publisher":"미래에셋증권","publisher_en":"Mirae Asset Securities","kind":"research","lang":"ko","published_at":"2024-07-01","url":"https://securities.miraeasset.com/bbs/download/2129977.pdf?attachmentId=2129977","title":"나노신소재 커버리지 개시 — 목표주가 13.5만원, 매수","title_en":"Advanced Nano Products coverage initiation — TP KRW135,000, Buy","excerpt":"나노신소재 CNT 도전재 주요 고객으로 LG엔솔·삼성SDI·SK온 열거.","excerpt_en":"Lists LG ES, Samsung SDI and SK On as key CNT-additive customers."}]},{"direction":"revenue","counterparty":"SK이노베이션(SK온)","counterparty_slug":"sk-innovation","confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"SK온(SK이노베이션)에 양극·음극 CNT 도전재 공급.","note_en":"Supplies cathode and anode CNT additives to SK On (SK Innovation).","sources":[{"stance":"mentions","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2024-11-07","url":"https://www.finance-scope.com/article/view/scp202411070013","title":"나노신소재, LG엔솔·삼성SDI 납품 위한 미국·폴란드 CNT 공장","title_en":"Advanced Nano Products builds US and Poland CNT plants to supply LG and Samsung SDI","excerpt":"LG엔솔·삼성SDI 납품용 미국·폴란드 공장.","excerpt_en":"US and Poland plants to supply LG ES and Samsung SDI."},{"stance":"mentions","publisher":"미래에셋증권","publisher_en":"Mirae Asset Securities","kind":"research","lang":"ko","published_at":"2024-07-01","url":"https://securities.miraeasset.com/bbs/download/2129977.pdf?attachmentId=2129977","title":"나노신소재 커버리지 개시 — 목표주가 13.5만원, 매수","title_en":"Advanced Nano Products coverage initiation — TP KRW135,000, Buy","excerpt":"나노신소재 CNT 도전재 주요 고객으로 LG엔솔·삼성SDI·SK온 열거.","excerpt_en":"Lists LG ES, Samsung SDI and SK On as key CNT-additive customers."}]},{"direction":"cost","counterparty":"CNT·세리아·중공실리카 파우더 원재료","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"CNT 슬러리·세리아 슬러리·중공실리카 등의 주재료인 파우더가 최대 원재료. 2025년 매입 308억원으로 원재료의 82.9%(전년 137억·70.9% 대비 급증). 국내 CNT 파우더 공급사로는 LG화학·제이오·금호석유 등이 거론된다. 원재료 수입 비중 26%.","note_en":"Powder — the base material for CNT slurry, ceria slurry and hollow silica — is the largest raw-material line: KRW 30.8bn purchased in 2025, or 82.9% of raw materials (up sharply from KRW 13.7bn / 70.9% a year earlier). Korean CNT-powder suppliers commonly cited include LG Chem, JEIO and Kumho Petrochemical. Imports are 26% of raw materials.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-20","url":"https://opendart.fss.or.kr/api/document.xml?rcept_no=20260320001026","title":"나노신소재 사업보고서 (2025.12)","title_en":"Advanced Nano Products Annual Business Report (FY2025)","excerpt":"Powder(CNT slurry, Ceria slurry, 중공실리카 등 주재료) 30,819,980천원, 82.9%. 원재료 합계 371.87억, 수입 96.86억(26%).","excerpt_en":"Powder (base material for CNT slurry, ceria slurry, hollow silica) KRW 30,820m, 82.9%. Total raw materials KRW 37.19bn, imports KRW 9.69bn (26%)."},{"stance":"mentions","publisher":"아시아경제","publisher_en":"The Asia Business Daily","kind":"news","lang":"en","published_at":"2026-01-05","url":"https://www.asiae.co.kr/en/article/2026010510544065612","title":"배터리 도전재 2035년 3.07조원 시장으로 성장","title_en":"Conductive Additives for Lithium-Ion Batteries to Grow into 3 Trillion Won Market by 2035","excerpt":"한국 CNT 생산사로 LG화학·제이오·금호석유 — LG화학·제이오는 단일벽 CNT도 개발.","excerpt_en":"Korean CNT producers include LG Chem, JEIO and Kumho Petrochemical; LG Chem and JEIO also develop single-wall CNTs."}]},{"direction":"cost","counterparty":"TCO 타겟·전도성 페이스트용 금속류 원재료","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"디스플레이·태양전지용 TCO 타겟과 전도성 페이스트의 주재료인 인듐·아연 등 금속류. 2025년 매입 51억원으로 원재료의 13.8%. 금속류 매입단가는 kg당 658천원(전년 866천원)으로 하락.","note_en":"Metals such as indium and zinc — the base material for TCO sputtering targets and conductive pastes used in displays and solar cells. KRW 5.1bn purchased in 2025, or 13.8% of raw materials. The metals unit price fell to KRW 658,000/kg from KRW 866,000 a year earlier.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-20","url":"https://opendart.fss.or.kr/api/document.xml?rcept_no=20260320001026","title":"나노신소재 사업보고서 (2025.12)","title_en":"Advanced Nano Products Annual Business Report (FY2025)","excerpt":"금속류(TCO TARGET, 전도성 페이스트 등 주재료) 5,114,185천원, 13.8%. 단가 658천원/kg.","excerpt_en":"Metals (base material for TCO targets, conductive pastes) KRW 5,114m, 13.8%. Unit price KRW 658,000/kg."}]}]}