Liquid Crystalline Polymers Market Size, Industry Share, Growth 2030

According to the Precision Business Insights (PBI), the latest report, on the liquid crystalline polymers market was valued at USD 1,285.5 million in 2023 and is expected to reach USD 1,854.8 million by 2030, growing at an 7.8% CAGR from 2024 to 2030. The primary factors that drive the market are the growing surge of new technology in electronics as well as 3D printing products in the market and rapid miniaturization of electronic components such as connectors and surface mount devices.

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The liquid crystalline polymers market is segmented based on product type, application, and region.
Based on the product type, the market is segmented into the following:
• Lyotropic LC Polymer
• Thermotropic LC Polymer

Based on the application, the market is segmented into the following:
• Electrical & Electronics
• Consumer Goods
• Automotive
• Lighting
• Medical
• Others

Based on application, electrical & electronics holds the highest market share. The major factor for the rise of this segment is due to the extensive medical application that is increasing in account to have replacing traditional metals and plastic devices. The continuous development in technologies such as 4G and 5G also 3D printing are the major key drivers, the demand for liquid crystal polymer is growing rapidly with extensive applications ranging from electrical & electronics and automotive to consumer goods, growing demand of liquid crystal polymers films in flexible solar cells propel the market. In addition, new techniques such as injection molding and 3D printing have made it possible to produce more complex shapes which accelerate the market for liquid crystalline polymer market.

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Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific accounted to have largest market share in liquid crystalline polymers market due to rapid extension of electrical and electronics industry. The increasing domestic demand for electronic goods and growing technological infrastructure is expected to drive the demand for liquid crystal polymers in the market, the growing demand in electronics and automobile triggering the market and it is expected to dominate the market in the forecast years.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The liquid crystalline polymers market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

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Key players' profiles in the liquid crystalline polymers market report are Solvay, Celanese Corporation, Sumitomo Chemical Company, Toray Industries, Inc., Ueno Fine Chemicals Industry, Ltd., RTP Company, Zeus Company Inc., Nematx, Sumitomo Chemical, Chang Chung Group, Polyplastics Co., and Daken Chem.

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This release was published on openPR.