Liquid Crystal Polymer Market Analysis By Form ( LCP Resins & Compounds , Liquid Crystal Polymer Films , Liquid Crystal Polymer Fibers ), By Application - Global Forecast 2021-2031

ROCKVILLE, Md., Feb. 23, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, global market for liquid crystal polymers (LCPs) is anticipated to reach a valuation of US$ 2 Bn by 2031, expanding at a steady CAGR of 5% across the assessment period of 2021 to 2031.

The demand for Liquid crystal polymer films and fibres combined is anticipated to expand at CAGR of 7.5% over next ten years.

Growing penetration of the miniaturization trend in the electronics & electrical industry has attained all the limelight of stakeholders that are looking forward to expand their product applications. As the automotive industry continues to embrace the trend of lightweight vehicles, in line with growing demand for better performing motors and efficient fuel consumption, LCPs are emerging as a viable substitute for heavy metal components.

In a thriving automotive industry, LCPs are primarily witnessing traction for use in fuel contact components and battery components. Moreover, favourable properties of liquid crystal polymers, namely, high chemical resistance, thermal resistance, and good mechanical strength, along with benefits of light weight, continue to make them the material of choice for a wide range of applications.

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Highly Priced And Low-Volume Polymer High-Performance Thermoplastics (Hptps) Continue To Garner Considerable Traction

Application of the liquid crystal polymers in the electrical and electronics industry in particular, automotive sector, and potential lucrativeness in the medical applications are highly likely to grow further in the years to come.

While highly priced and low-volume polymer high-performance thermoplastics (HPTPs) continue to garner considerable traction for use in specialized applications that require a combination of extraordinary properties, their adoption is likely to remain bullish in near future. Moreover, liquid crystal polymers are also garnering limelight as a potential replacement for metal parts, as industries shift their focus towards various forms of plastics as light-weighting materials for diverse applications.

Demand for liquid crystal polymers from the electrical & electronics industry is also expected to rise further over the coming years.

Which are the major countries driving demand for Liquid Crystal Polymer?

Asia Pacific dominates the market for liquid crystal polymers in terms of volume as well as value, with China leading the market due to its extensive electrical and electronics industry. Asia Pacific is anticipated to be the fastest-expanding market during the forecast period due to increase in investments in R&D.

North America and Europe are projected to witness a significant growth during the analysis period. Adoption of lightweight, high-performance materials in the automotive industry in North America and Europe is expected to drive market expansion.

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Key Segments Covered in Liquid Crystal Polymer Industry Research

• By Form

  • LCP Resins & Compounds

  • Liquid Crystal Polymer Films

  • Liquid Crystal Polymer Fibers

• By Application

  • Electrical & Electronics

    • Connectors

    • Flexible Circuits

    • Printed Circuit Boards

  • Automotive

    • Lamp Holders

    • Connectors

    • Electronic Components

    • Ignition & Transmission Components

  • Aerospace & Defense

  • Consumer Goods, Sports & Leisure

  • Industrial

    • Measuring Instruments

Prominent Players in the Liquid Crystal Polymer Market

• Celanese Corporation,

• Polyplastics Co Ltd.

• Sumitomo Chemical Co., Ltd.

• Toray Industries Inc.

• Solvay S.A.

• Ueno Fine Chemicals Industry, Ltd.

• Shanghai PRET Composites Co.
  

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Key Takeaways from Liquid Crystal Polymer Market Study

• LCP market anticipated to expand at CAGR of 5% across analysis period of 2021 to 2031.

• Liquid crystal polymer films and fibres combined market to expand at CAGR of 7.5% over next ten years.

• Demand for liquid crystal polymers from electronics & electrical industry to remain high.

• Market in China accounts for around 70% of total revenue share in Asia Pacific region.

• Global LCP market expected to top US$ 2 Bn by 2031-end.

• Demand for liquid crystal polymer resins to remain high in electronics & electrical industry.

“Increasing application of liquid crystal polymers in the automotive & electronics industry to nudge market growth over coming years,” says a Fact.MR analyst.

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