Global Size of Liquid Crystal Polymer Market Expected 8.0% CAGR Growth by 2030

According to the research report, the global liquid crystal polymer market was valued at USD 1.25 billion in 2021 and is expected to reach USD 2.43 Billion by 2030, growing at a CAGR of 8.0% during the forecast period.

Overview

Liquid crystal polymers are an exceptional kind of thermoplastics that portray properties between hugely ordered solid crystalline materials and disordered liquids that are amorphous over a temperature range that is well defined. Up till now, several LC polymers have been synthesized. But only some have become LC materials that are commercially important.

The three most ordinary LCPs are semi-aromatic copolyesters, copolyamides, and polyester coamides. These polymers accommodate rigid rod-like plates and plate-like identical units with a high length to width ratio. They are mesogenic groups capable of self-assembling into anisotropic liquid crystals upon cooling. The three very common LC mesophases are nematic, smectic A and smectic C. Nematic mesophases portray only unidimensional orientational order in command of the long or short molecular axes. Contrarily, smectic mesophases describe the two-dimensional orientational disorder.

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Drivers

Rise in electronic components to drive the liquid crystal polymer market

Transfer of consumer partiality toward trivializing electronic components, including connectors and surface-mounted devices, should drive the global liquid crystal polymer market share. LCP has an extensive spread of scope in electronic components that includes mobiles and personal computers defined by durability, lightweight, high performance, and efficiency impacting the demand of the product.

Technological innovations and the growing application scope of the packaging, automotive, and electronics industry should drive the LCP market. This development in demand for the product can be credited to low maintenance cost, environment friendliness, intensified performance features like thermal expansion coefficient, minimal moisture absorption, escalated modulus strength, flexibility, and abrasion resistance.

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Regional analysis

Europe as an emerging regional market for Liquid crystal polymer

Europe, directed by the UK, Germany, and France, is projected to grow exponentially due to the robust automotive industry. The prevalence of prominent automotive OEMs, together with an inclination of the consumer towards automobiles that are high end should strengthen product demand. New progression in vehicular electronic devices rounding off firm design and influence aversion should have a positive LCP market outlook.

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Key segmentation

By application analysis

The inclination of consumers toward packed electronic parts to move the LCP market
Depending on the application, the electronic and electric application segment will witness gains during the forecast timeframe. This growth is owing to increasing automation and the inclination of consumers toward ultra-compact devices, equipment, and electronic parts. Growing automotive sales and production rates and consumer preference for high-end electronic devices in car interiors should drive LCP market demand.

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Key players

Some of the major players operating in the global liquid crystal polymer market include Asia International Enterprise (HK) Limited, Celanese Corporation, Kuraray Co. Ltd, PolyOne Corporation, Polyplastics Co. Ltd., Rogers Corporation, RTP Company, Shanghai Pret Composites Co., Ltd., Solvay SA, Sumitomo Chemicals Co. Ltd., Toray Industries, Inc., and Ueno Fine Chemicals Industry Limited.

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Recent developments

1. October 2020, Polyplastics Co. Ltd finished the acquisition of aggregate shares from Celanese

2. In February 2019, Polyplastics Co. Ltd finished a merger with Wintech Polymer Ltd. to amalgamate the LCP business.

Liquid crystal polymer market: By type
• Thermotropic
• Lyotropic

Liquid crystal polymer market: By application
• Electrical and Electronics
• Industrial Machinery
• Consumer goods
• Lighting
• Medical
• Others

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