Liquid Crystal Polymers (LCPs) Market Size, Share, Trends, Growth and Forecast 2030

Global Liquid Crystal Polymer (LCP) Market: Industry Prospective:

The global liquid crystal polymer (LCP) market is valued at $1.3 billion in 2022 and is expected to reach $2.4 billion by the end of 2030, with a healthy CAGR of 8.3% over the forecast period 2023-2030. The report offers in-depth analyses of the growth factors, opportunities, and challenges in the market during the forecast period. Additionally, the report explorers the investor and stakeholder space to help companies make data-driven decisions.

Liquid Crystal Polymer (LCP) Market: Overview

Liquid crystal polymers are an ideal combination of high stiffness, high-temperature resistance, and high flow, which make them suitable for usage in the trend of miniaturization in the electronics and electrical sector. Additionally, it got wide acceptance in microinjection molding. These are a class of aromatic polymers. Liquid crystal polymers perform very well under harsh weather and environmental conditions. These are inert, unreactive, and resistant to fire. Such properties make these polymers resistant to strong chemicals and extreme heat conditions. Also, these are based on 4-hydroxybenzoic acid and are associated with monomers. Due to their diverse properties, these polymers find a wide range of applications in different sectors. These are widely used in the making of antenna substrates, housings, flexible printed circuits, and others.

COVID-19 Impact:

The global liquid crystal polymer (LCP) market is positively impacted by the outbreak of the Covid-19 pandemic as the requirement from different end-users sectors has increased. The surging trend of work from home along with lockdown working protocols has augmented the sales of different electronic products like smartphones, tablets, and laptops. Additionally, the advent of online education globally has further fueled the sales of electronic products amid pandemics. However, the other applications of liquid crystal polymer in the automobile and medical sectors are likely to grow continuously. Therefore, the market is likely to exhibit a robust growth trajectory due to its increasing applications in the forthcoming years.

Liquid Crystal Polymer (LCP) Market: Growth Drivers

The growing trend of miniaturization of electronic components is likely to augment global market growth.

The fast-proliferating automobile sector is one of the primary reasons for the exponential growth of the global liquid crystal polymer (LCP) market. Liquid crystal polymers are used in a wide range of automobile applications like car safety belt sensors, ignition system components, fog lamps, lamp sockets, and others due to their superior thermal and electrical properties. The fast-growing demand for automobiles globally, along with the growing production and sales activities. Furthermore, liquid crystal polymers are ideal aromatic polymers for extensive use in electrical appliances.

These are much in demand for manufacturing flexible printed circuits and other electronic equipment. According to data by Consumer Technology Association, the sales of smartphones will grow exponentially in 2022, and around 76% of the users will have 5G smartphones globally. Such statistics show the growth in demand for electronic products in the forthcoming years, thereby the global market is likely to witness growth in the forthcoming years. Technological innovations and the growing scope of the packaging sector are also likely to complement the growth of the global liquid crystal polymer (LCP) market.

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Report Scope:

Liquid Crystal Polymer (LCP) Market Restraints

Liquid Crystal Polymer (LCP) Market: High manufacturing cost of liquid crystal polymers likely to hamper the market growth

The production cost of these polymers is higher than traditional high-performance polymers. Therefore, it makes liquid crystal polymers less attractive and competitive when compared to their low-cost rivals like nylon, ABS, and others.

Liquid Crystal Polymer (LCP) Market: Opportunities

Liquid Crystal Polymer (LCP) Market: Growing use of LCPs as an alternative to traditional material is likely to offer growth opportunities in the global market.

Thermoplastic polymers hold characteristics to become liquid on heating and then again return to a solid state when cooled. This cycle of freezing and melting can be recurrent. Therefore, it helps plastics to get reshaped again and again by the heating process. Therefore, due to their superior properties, these thermoplastic polymers are gaining immense popularity as an ideal alternative to traditional materials like wood, aluminum, and steel. Additionally, they are very much suitable for extreme applications in end-user sectors like storage, packaging, medical equipment, machine parts, consumer goods, and others.

Liquid Crystal Polymer (LCP) Market: Challenges

Liquid Crystal Polymer (LCP) Market: Small biphenyl producers are a huge challenge in the global market.

The demand and supply gap is likely to emerge as a new challenge for the global market. Due to the small biphenyl producers, the end-users are not able to bridge the gap. Thereby this factor is likely to hamper the growth of the market in the forthcoming years.

Global Liquid Crystal Polymer (LCP) Market: Segmentation

The global liquid crystal polymer (LCP) market can be segmented into application, type, and region.

By application, the market can be segmented into automotive, machinery, electrical & electronics, and other applications.

By type, the market can be segmented into lyotropic and thermotropic.

Recent Developments

• The Polyplastics Company in January 2020 announced new developmental grades of LCP to offer superior blister resistance for electronic connectors.
• Daicel, in July 2020, acquired the stake of its affiliate Celanese Industries with a valuation of $1.5 billion.

Liquid Crystal Polymer (LCP) Market: Regional Landscape

Asia Pacific accounts for the largest share in the global liquid crystal polymer (LCP) market due to the surge in demand from different end sectors in growing economies like Japan, China, India, and South Korea. China is the largest electronic production base and holds the highest growth prospects in the consumer electronics segment. Additionally, the growing disposable income of people in the region is likely to emerge as another primary factor propelling the growth of the regional market in the forthcoming years.

Liquid Crystal Polymer (LCP) Market: Competitive Landscape

Some of the significant players in the global liquid crystal polymer (LCP) market include:

• Kingfa Sci. & Tech. Co. Ltd
• Shenzhen Wote Advanced Materials Co. Ltd
• Sumitomo Chemical Company
• Celanese Corporation
• Polyplastics Co. Ltd.

The global liquid crystal polymer (LCP) market is segmented as follows:

Global Liquid Crystal Polymer (LCP) Market By application

• Automotive
• Machinery
• Electrical & electronics

By type

• Lyotropic
• Thermotropic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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