The global liquid crystal polymers market
was pegged at 40.2 KT in 2018, according to Liquid Crystal Polymers Market Report, by Category (Main Chain LC Polymers and 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, Middle East, and Africa), published by
The global liquid crystal polymers market is expected to reach 66.4 KT by 2027, exhibiting a CAGR of 5.8% during the forecast period (2019-2027). Liquid Crystal Polymers (LCPs) is a part of a family of thermoplastics having 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 greatly increases their stiffness, strength, and thermal expansion in one direction, unlike other polymers such as nylon or ABS. Global demand for liquid crystal polymer is expected to increase over the forecast period, owing to their application in various industries such as electrical & electronics, automotive, consumer appliances, and others.
Liquid crystal polymers are increasingly becoming a choice of material for miniaturization in consumer appliances industry as it can be easily processed and molded into tiny precision parts to integrate different functions. The growth of consumer appliance industry is expected to drive demand for liquid crystal polymer over the forecast period. For instance, according to the India Brand Equity Foundation, Indian appliance & consumer electronics market was valued at US$ 31.48 billion in 2017, and is expected to increase at a CAGR of 9% to reach US$ 48.37 billion by 2022.
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Browse 70 market data tables* and 60 figures* on "Liquid Crystal Polymer Market” - Global forecast to 2027.
Key Takeaways of the Market:
- Among applications, electrical & electronics segment is expected to account for major market share during the forecast period. Growth of electronics industry is expected to increase demand for liquid crystal polymer over the forecast period. For instance, according to the Germany Trade and Invest, Germany’s electronics industry was valued at US$ 214.4 billion in 2016, which increased by 6.7% to reach US$ 228.8 billion in 2017.
- Among regions, Asia Pacific is expected to witness a significant growth in the market during the forecast period, owing to growing automotive industry in emerging economies such as China and India. For instance, according to the U.S. International Trade Organization (ITA) 2017, China was the world’s largest vehicle market that reported sale of over 28 million units in 2016, which is expected to reach 35 million units by 2025.
- Major players operating in the market are focusing on new product launches, in order to strengthen their position in global liquid crystal polymer market. For instance, in May 2019, Sumitomo Chemical Advanced Technologies LLC launched new liquid crystal polymers for electronic industry. The company introduced two new SumikaSuper LCP grades designed specifically to meet requirements of fine pitch connectors. Fine pitch connectors are interconnects that are used in printed circuit board designs, where space is limited. The new LCP grade for fine pitch connectors offers superior processability and low warpage in very thin wall sections.
- Major players operating in the global liquid crystal polymer 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.