Press release
Liquid Crystal Polymer Market Anticipated To Expand At CAGR Of 5% Across Analysis Period Of 2021 To 2031
As per Fact.MR – a market research and competitive intelligence provider, the global liquid crystal polymer market was valued at US$ 1.2 Bn in 2020, and is expected to expand at a CAGR of 5% across the forecast period.Popularity of liquid crystal polymers in the electrical and electronics industry and medical industries has increased over the past few years. These industries are expected to increase the market size over forecast period. Moreover, the medical industries will be boosted because of covid-19. Besides, the automobile industry is undergoing a major transformation on account of; increasingly important global environmental issues, stringent energy conservation and with strict exhaust gas regulations coming into the picture.
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Growing penetration of the miniaturization trend in the electronics & electrical industry has attained all the limelight of stakeholders that are looking forward to expand their product applications. As the automotive industry continues to embrace the trend of lightweight vehicles, in line with growing demand for better performing motors and efficient fuel consumption, LCPs are emerging as a viable substitute for heavy metal components.
In a thriving automotive industry, LCPs are primarily witnessing traction for use in fuel contact components and battery components. Moreover, favourable properties of liquid crystal polymers, namely, high chemical resistance, thermal resistance, and good mechanical strength, along with benefits of light weight, continue to make them the material of choice for a wide range of applications.
Key Takeaways from Market Study
• LCP market anticipated to expand at CAGR of 5% across analysis period of 2021 to 2031.
• Liquid crystal polymer films and fibres combined market to expand at CAGR of 7.5% over next ten years.
• Demand for liquid crystal polymers from electronics & electrical industry to remain high.
• Market in China accounts for around 70% of total revenue share in Asia Pacific region.
• Global LCP market expected to top US$ 2 Bn by 2031-end.
• Demand for liquid crystal polymer resins to remain high in electronics & electrical industry.
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Key Segments Covered in Liquid Crystal Polymer Market Report:
On the basis of form, the liquid crystal polymer market can be segmented into:
• Resin & Compounds
• Films
• Fibers
On the basis of applications, the liquid crystal polymer market can be segmented into:
Electrical & Electronics
• Connectors
• Flexible Circuits
• Printed circuit board
• Others
Automotive
• Lamp Holders
• Connectors
• Electronic Components
• Ignition & Transmission Components
Aerospace & Defense
Consumer Goods, Sports & Leisure
Industrial
• Measuring Instruments
• Others
Competitive Landscape
Market frontrunners are constantly leveraging novel materials and exploring potential applications of liquid crystal polymers to maintain their standpoint. New product development and customized application-based offerings have emerged as a key strategy of market players to gain an extra edge in the market, which is heading towards intensifying competition.
Some of the key developments are:
• In July 2019, Sumitomo Chemical developed three new LCPs, which include SumikaSuper E6205L, SumikaSuper SR1205L, and SumikaSuper SZ6911EM. These LCPs are specifically designed for high-speed connectors such as backplanes and automotive connectors for infotainment.
Key Companies Profiled
• Celanese Corporation,
• Polyplastics Co Ltd.
• Sumitomo Chemical Co., Ltd.
• Toray Industries Inc.
• Solvay S.A.
• Ueno Fine Chemicals Industry, Ltd.
• Shanghai PRET Composites Co.
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On the basis of region, the liquid crystal polymer market can be segmented into:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa (MEA)
A detailed analysis of liquid crystal polymer market has been provided for each market segment, in terms of volume (tons) and value (US $ Mn) analysis for liquid crystal polymer market.
Key Question answered in the survey of Liquid Crystal Polymer market report:
• Market Estimates of Liquid Crystal Polymer and Forecasts of Liquid Crystal Polymer
• Market Size of Liquid Crystal Polymer
• Market Analysis of Liquid Crystal Polymer
• Statistical analysis of Liquid Crystal Polymer
• Key Drivers Impacting the Liquid Crystal Polymer market
• Which are the Key drivers impacted by Liquid Crystal Polymer market
• Restraints Shaping U.S. Market Growth
• Market Survey of Liquid Crystal Polymer
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