At 8.24% CAGR, Liquid Crystal Polymer Market is Expected to Reach USD 2349.1 Million to 2028 By Globally, says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

10 Mar, 2022, 11:30 GMT

LONDON, March 10, 2022 /PRNewswire/ -- According to Brandessence Market Research, The Liquid Crystal Polymer Market size reached USD 1349.5 Million in 2021. The LCP Market is growing at robust CAGR of 8.24%, and reach size of USD 2349.1 Million by end of Forecast 2028. Increasing Requirement of Liquid Crystal Polymers in Three Dimensional Printers, Growing Automotive Industry and Rising Electronics & Electrical Applications are the driving the Market Growth

The liquid crystal polymer industry is going to see a concentration of industry players who are now looking towards expanding their regional presence by mergers and acquisitions. The few companies which are leading the market are Celanese Corporation, Polyplastics Co. Ltd, Kingfa Sci. & Tech. Co. Ltd, Shenzhen Wote Advanced Materials Co. Ltd, Sumitomo Chemical Company, Toray Industries, Inc., Solvay S.A., Solvay, RTP Co, And Kuraray. The global liquid crystal polymer market will see more consolidation of these players.

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Scope of The Liquid Crystal Polymer Market Report:

The global liquid crystal polymer market has been expected to be growing in the coming years as there is going to be a great amount of consumption with the increase in the innovations and the research and development programs across the sector; this will have a huge positive impact on the market share. There is a growing trend where the consumer preferences have been shifting towards the electronic component miniaturization which is going to include connectors and the surface-mount devices which will be driving the overall share of the global liquid crystal polymer market. LCPs have applications in wide scope in the electronic components and these include mobiles and personal computers. They are light in weight and durable and also have high performance and offer efficiency which influences the demand of the product.

Liquid Crystal Polymer Market Drivers

Technological innovations in addition to the applications which are widespread in the packaging, electronics and automotive industries must drive the growth of the global liquid crystal polymer market. The growth in the demand of the product can also be owing to it being environment-friendly and low in maintenance cost. The characteristics of enhanced performance as well as lower thermal expansion coefficient, higher modulus strength, minimal absorption of moisture, flexibility and abrasion resistance are some of the key features of the LCP. They are also used as substitute to the polyamide films in the packaging sector due to the exceptional mechanical and chemical properties. The LCPs have also been favored over the other materials which include the EVOH films due to their low cost of maintenance and their lower viscosity over a longer run for production.

P-hydroxy naphthoic and benzoic acid are the major raw materials which are used in the LCP process. The films and laminates are produced from the LCP thermoplastic resins which are form of the pellets and granules. The market constraints are because of limited manufacturers bi-phenol that can create the gap in the demand and supply which affects the overall value of the global liquid crystal polymer market.

The liquid crystal polymers refer to a class of the polyesters that are crystalline, aromatic-based upon the monomers and p-hydroxybenzoic acid. These are very unreactive and inert. This can be produced by the dissolution of a polymer by heating it above the melting point. These are the products which are chemical- and fire-resistant and have a really high crystalline molecular chain when compared to the common polymers like nylon and ABS. These exhibit a stacked, semi-rigid orientation of the linear molecules. This is one of the biggest advantages of the global liquid crystal polymer market. It has led to an adoption by various countries and in its segmentation analysis it has been done for different countries. With different segments in terms of end user are different in different continents. The population demands and the technological developments have seen different aspects of the market work differently.

Segmentation Analysis:

In the segment of medical application, the United States region is expected to grow significantly in the timeframe that is projected. The recent upsurging in the sector of medical devices has seen the focus go on biotechnology and microelectronics rise in numbers of the equipment manufacturers and medical device developers. The reason for this has been the research and development which has come from the United States industry of medical device. This is due to the low production costs.

By Application:

  • Industrial Machinery
  • Electrical & Electronics
  • Automotive
  • Consumer Goods
  • Lightning
  • Medical
  • Others

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Recent Development:

On January 25th, 2022; Sumitomo Chemical decided to manufacture another production line for its liquid crystal polymer (LCP) which is a super engineering plastic, at Ehime Works (Niihama city, Ehime, Japan). In the Sumitomo Chemical Group, LCP is produced at Sumitomo Chemical's Ehime Works and the Harima Works of the Company's subsidiary Taoka Chemical Co., Ltd. (Harima, Kako-gun, and Hyogo, Japan). This expansion leads to increase in manufacturing by around 30%. The new production lines will be launched in 2023.

On September 6th, 2021; Polyplastics Co. ltd. started a new plant which focuses on liquid crystal polymerization production at Taiwan. Due to the different applications of liquid crystal polymers like industrial fields, mainly electronic components used in information and communication equipment such as personal computers and smartphones and also smartphone industry to support the new 5G technology, this plant is being built to curb this liquid crystal polymer demand.

Regional Analysis:

In the Asia-Pacific region, the electrical and electronic sector saw a growth which was because of the regions such as India, Japan, China and South Africa due to the strong innovations technically and the product development initiatives taken up by the players in the industry. There is a flow of properties which have improved the moldability along with the outstanding properties it has in terms of how it reacts in the higher temperatures, the excellent chemical resistance, flame retardancy which it inherently has and the good weatherability which is going to increase the growth of the global liquid crystal polymer market in the region.

In Europe, particularly in Germany, the automotive applications are going to generate a lot of revenues where the sales of the automobiles are going to surpass anything that it has done previously in the coming years. The rise in the automotive sales rate along with the production rate as the consumer preferences of the electronic devices which are high-end devices in the interiors of the car which will drive the market demand in this region.

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The countries in Europe such as France, UK and Germany are also going to see the regional automotive industry grow. That is due to the presence of a lot of consumers which are included to the automotive and that is going to bolster the demand of the products. There are many advancements which are happening in the electronic devices inside the vehicle which complement the market in the continent. There is also a good market outlook towards impact resistance and that propels the demand. The global liquid crystal polymers market is one which will keep seeing growth in Europe.

China is also going to see a growth in the industry due to the rise in development and it emerging as the market leader in the Asia Pacific region. This is attributed to the expansion in the Chinese region of the electronics and electric industry. This is where the segment of industrial machinery is going to see a lot of usage in terms of application here and there is going to be a mass substitution of the ceramic materials with LCP.

On Special Requirement Liquid Crystal Polymer Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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