Liquid Crystalline Polymers (LCP) Market - Global Industry Size 2020
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Liquid crystalline polymers (LCPs) are emerging as an effective substitute for other engineering resins and high performance thermoplastics. This is due to the fact that, liquid crystalline polymers (LCPs) can be efficiently used to produce ultrathin components having 0.1 mm wall thickness with very less cycle times. The resins that are competing with liquid crystalline polymers (LCPs) can be used to produce thin parts up to 0.25 mm thickness and not less than that. Moreover, they take longer cycle times than that of liquid crystalline polymers (LCPs). The properties such as high temperature resistance, high stiffness and high flow makes liquid crystalline polymers (LCPs) the most preferred option in the manufacture of intricate components. The growing electronics and automotive industry and the emerging trend of producing intricate components by using microinjection molding is expected to drive the global liquid crystalline polymers (LCPs) market in the years to come.
Asia Pacific is expected to be the fastest growing market for liquid crystalline polymers (LCPs) in the next six years. The key reason for this is the rising demand for liquid crystalline polymers (LCPs) from developing countries such as China, India, Indonesia and Thailand. Additionally, the countries in the regions like Africa, South America and the Middle East are showing quick economic growth since the last few years. In addition, the U.S. and European countries are gradually recovering from the economic collapse. All such factors are creating a positive outlook for the global industrial scenario. Considering this outlook, the automotive and electronic industries are projected to record a remarkable growth in the near future. There is an outstanding market potential for the plastics industry, especially the liquid crystalline polymers (LCPs) industry in the emerging nations such as China, India and Brazil. The rising demand for liquid crystalline polymers in the electronics, automotive, food packaging and medical industry is anticipated to drive the global liquid crystalline polymers (LCPs) market in the future.
The key players in the liquid crystalline polymers (LCPs) market are predominantly focusing on these developing nations for tapping their enormous market potential. The main players operating in the liquid crystalline polymers (LCPs) market are installing robust production facilities in these developing countries to fulfill the rapidly rising local demand. Therefore, the global liquid crystalline polymers (LCPs) market is expected to experience a substantial growth in the future.
Some of the major companies operating in the global liquid crystalline polymers (LCPs) market are Sumitomo Chemical Company Limited and DuPont among others.
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