Liquid crystal polymers market

Liquid Crystal Polymers Market, by Category (Main Chain LC Polymers, Side Chain LC Polymers), by Product Type (Lyotropic LC Polymers and Thermotropic LC Polymers), by Application (Automotive, Electrical & Electronics, Industrial, Consumer Appliances, Medical, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jul 2022
CMI3081
220 Pages
Excel & Pdf
Polymers and Resins

Summary

Liquid Crystal Polymers (LCPs) are part of a family of thermoplastics with inimitable set of properties such as high electrical resistance, high heat resistance and tolerance, and high chemical resistance. They demonstrate a high degree of anisotropy in both liquid & solid crystal phases, which significantly increases their stiffness, strength, and thermal expansion in one direction, not same in every direction unlike other polymers such as nylon or ABS (Acrylonitrile butadiene styrene).

Global liquid crystal polymers market was valued at US$ 1.2 Billion in 2021 in terms of revenue, exhibiting a CAGR of 7.9% during the forecast period (2022 to 2030).

Drivers

LCP possesses properties such as low viscosity and high flow resulting in high-temperature resistance enhanced excellent mechanical strength and dimensional stability these factors make LCP the best-suited material to be used in the miniaturization of components in information technology, telecommunications and diagnostic instruments. Increasing engineering resin substitutes for ultra-thin components is also expected to drive LCP market growth over the forecast period.

Among region, Asia Pacific accounted for the largest market share in 2021. Growth in the Asia Pacific region will be driven by rapid urbanization and growing industrialization in countries such as China, India, Vietnam, Thailand, Singapore, and Taiwan. China is one of the largest smartphone users and manufacturers in the world due to which it achieved significant market share in this region. Transitioning lifestyles coupled with changing preferences for advancing telecommunication technologies and IT infrastructure are expected to drive the demand for LCP films & laminates.

Figure 1. Global Liquid Crystal Polymers Market Value Share (%), By Region, 2021

Market Restraints

High production cost of liquid crystal polymers is one of the major restraints that affect growth of the global liquid crystal polymers market. The cost of liquid crystal polymers is higher than traditional high-performance polymers. This makes liquid crystal polymers less competitive in with their inexpensive rivals such nylon, PPA, ABS. ABS and Generic nylon prices are approximately one-fifth of the price of liquid crystal polymers, which gives cost advantage in electrical & electronics of the applications where high performance polymers require while filling walls down to 0.25 mm at most.

Liquid Crystal Polymers Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 1.2 Bn
Historical Data for:	2017-2021	Estimated Year:	2022
Forecast Period 2022 to 2030 CAGR:	7.9%	Forecast Period:	2022-2030
Geographies covered:	By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:	By Category: Main Chain LC Polymers, Side Chain LC Polymers By Product Type: Lyotropic LC Polymers, Thermotropic LC polymers By Application: Supermarket, Automotive, Electrical & Electronics, Industrial, Consumer Appliances, Medical, Others
Companies covered:	Celanese Corporation, Polyplastics Co Ltd., Sumitomo Chemical Co., Ltd., Toray Industries Inc., Solvay S.A., Ueno Fine Chemicals Industry, Ltd., and Shanghai PRET Composites Co., Ltd.
Growth Drivers:	Increasing engineering resin substitutes for ultra-thin components Global demand for liquid crystal polymer owing to their application in various industries such as electrical & electronics, automotive, consumer appliances, and others
Restraints & Challenges:	High production cost of liquid crystal polymers

Market Trends

Rapid miniaturization of electronic components such as connectors and surface mount devices is expected to remain a key driving factor for the global LCP market over the forecast period. Denser component packaging coupled with higher fabrication temperature offered by LCP is also expected to have a positive influence on market growth.

Figure 2. Global Liquid Crystal Polymers Market Value Share (%), By Application, 2021

Among applications, electrical & electronics segment accounted for largest market volume share of 73.9% in 2021, in the global liquid crystal polymers (LCP) market. LCP is majorly adopted in electrical & electronics industries, owing to its optimal physical & chemical properties. Therefore, the segment is expected to retain its dominance over the forecast period. For instance, according to survey conducted by the Japan Electronics and Information Technology Industries Association (JEITIA), production by global electronics and information technology industries increased 8% year-on-year in 2018, to reach US$ 2,934.5 billion, and is expected to increase by 4% year-on-year in 2019, to reach US$ 3,045.8 billion.

Recent Developments

In September 2021, Polyplastics co announced its new product launch. This company is also building a new polymer facility in Taiwan. Due to this reason, the production of the market is expected to grow higher. The company will manufacture more than 5,000 tons of polymer crystals.
In January 2021, Celanese Corporation announced the opening of the new Multiphase LCP plant. This plant opened by the company in china.
In July 2019, Sumitomo Chemical developed three new LCPs, which includes SumikaSuper E6205L, SumikaSuper SR1205L, and SumikaSuper SZ6911EM. These LCPs are specifically designed for high-speed connectors such as backplanes and automotive connectors for infotainment. SumikaSuper SZ6911EM is specifically designed to provide high-speed digital and wireless devices, where electromagnetic interference (EMI) is a worry.

Competitive Section

Major players operating in the global liquid crystal polymers market include Celanese Corporation, Polyplastics Co Ltd., Sumitomo Chemical Co., Ltd., Toray Industries Inc., Solvay S.A., Ueno Fine Chemicals Industry, Ltd., and Shanghai PRET Composites Co., Ltd.

Table of Content

Table of Contents

* Browse 50 market data tables* and 40 figures* on “Global Liquid Crystal Polymers Market” - forecast to 2030.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What was the global liquid crystal polymers market size in 2021?

Global liquid crystal polymers market was valued at around US$ 1.2 Billion in 2021.

What are the major factors that are expected to drive growth of the market during the forecast period?

Increasing engineering resin substitutes for ultra-thin components is also expected to drive market growth over the forecast period.

What are the trends in the market?

Rapid miniaturization of electronic components is the key trend in the market.

What are the key factors hampering growth of the market?

High production cost of liquid crystal polymers is one of the major restraints that affect growth of the market.

Which are the key players in the market?

Major players operating in the market include Celanese Corporation, Polyplastics Co Ltd., Sumitomo Chemical Co., Ltd., Toray Industries Inc., Solvay S.A., Ueno Fine Chemicals Industry, Ltd., and Shanghai PRET Composites Co., Ltd.

What is the estimated growth rate for market?

The market is estimated to grow at around 7.9% CAGR in the forecast period (2022-2030).