Liquid Crystal Polymer Market Current Business Trends & Growth Opportunities 2020-2024
The growing number of innovations and R&D programs across the polymer space have had a profound impact on liquid crystal polymer market size. Pertaining to the inert and highly water-resistant characteristics of LCP, this polymer is being prominently used for encapsulation of electronics components, electronics packaging, and as a base material for neural prosthetic devices on large scale, which has led to LCP industry size being pegged at USD 375 million in 2016. Taking into account its numerous benefits, leading electronics equipment manufacturers are investing heavily in research and development activities to enhance the performance of electronic devices.
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For instance, the U.S. based smartphone manufacturer, Apple has upgraded its iPhone models with liquid crystal antennas, that would help improve the transmission speed of LTE data. Ongoing developments in the electronics & media industry such as the aforementioned are certain to push liquid crystal polymer market share over the years ahead. Moreover, LCP is one of the 3D quantum liquid crystals, which has been touted to transform the future of computers, owing to its high speed, compatibility with a micro-fabrication process, and flexibility. In addition to this, nowadays, LCP has become one of the primary components in aerospace and automotive applications, where high heat deflection is required, pertaining to its properties such as lower coefficient of thermal expansion, abrasion resistance, and high mechanical strength, which would further drive Liquid Crystal Polymer Market size.
LCP’s numerous benefits stand to be one of the main driving forces of liquid crystal polymer market. On these grounds, several research institutes are taking initiatives to improve the applicability of material for space applications. Recently, the Earth Science Technology Office of NASA provided funding to numerous researchers from the Georgia Institute of Technology to evaluate LCP material electronics applications in space – a research project that would have considerable impact on liquid crystal polymer industry share.
Growth drivers are
• North America: Growing demand for miniaturized electrical & electronics devices
• Europe: Rising demand for lightweight, high performance materials from automotive industry
• Asia Pacific: Growth in electronics industry
• LATAM: Growing plastic & polymer based product demand
• MEA: Strong crude oil production capacity
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LCP can be incorporated in several electronics circuits, as it is ultra-thin (like plastic), can even be molded in any shape, and performs well in critical temperatures and intense radiation. One of the senior research engineers at Glenn Research Center of NASA has added that on the grounds of its properties, LCP has replaced other conventional materials for manufacturing circuit boards and antennas in high-frequency applications. The growing popularity of flexible liquid crystal polymer antennas will thus have a significant impact on Liquid Crystal Polymer Market outlook over the years ahead.
Since the last few years, computer hardware manufacturers are continuously investing in LCP production to develop products that would prove useful in numerous end-use domains. Noctua, the Austria based computer cooling equipment manufacturer, has recently announced its next-gen 120 mm, A-series fan at the Computex 2017 – these impellers are manufactured from LCP and call for lesser fan vibration, little fan creep, and strict tolerances. Introducing impellers of LCP material may lead to the generation of numerous opportunities for LCP industry giants, owing to the material’s high stiffness, rigidity, and tensile strength, and the fact that impellers are widely used in myriad applications.
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Speaking about the future scope of LCP, it would be prudent to mention that recently, a groundbreaking research had been unearthed in Liquid Crystal Polymer Market. Certain research communities detected that an artificial iris developed from light crystal polymer has the capability to respond similar to the human eye. Unquestionably, this discovery would generate new opportunities for the biggies in liquid crystal polymer (LCP) market, enabling them to penetrate the field of ophthalmology. Further on, discoveries such as the above have even been forecast to propel liquid crystal polymer (LCP) industry size, which according to Global Market Insights, Inc., will surpass a revenue collection of USD 650 million by the end of 2024.
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