Liquid Crystal Polymers Market, by Category (Main Chain LC Polymers, Side Chain LC Polymers), by Product Type (Lyotropic LC Polymers and Thermotropic LC Polymers), by Application (Automotive, Electrical & Electronics, Industrial, Consumer Appliances, Medical, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Liquid crystal polymers (LCP) exhibit a highly ordered structure in both liquid and solid states. LCP can replace materials such as ceramics, metals, composites, and other plastics, owing to properties such as outstanding strength at extreme temperatures and resistance to virtually all chemicals. Processing of LCPs include various operations such as fiber spinning, extrusion, film casting, thermoforming, injection, compression, and blow molding. Injection molding and extrusion are two dominant processing operations. Global demand for liquid crystal polymer is expected to drive the demand over the forecast period, owing to their application in various industries such as automotive, electrical & electronics, industrial, consumer appliances, medical, aerospace, and bake ware.
Market Dynamics
Among applications, electrical & electronics industry segment is expected to witness significant growth over the forecast period. For instance, according to LARK Technology (U.S.), LCP technology is the future of circuit design and manufacturing of high-performance electronic products. Furthermore, in recent years, LCP finds applications in electronics market such as fifth generation cellular network technology (5G), Radio frequency (RF), and high frequency.
Among regions, Asia Pacific is expected to hold dominant position in the market during the forecast period, owing to presence of majority of liquid crystal polymer manufacturers in the region. The major manufacturers of LCP in Asia Pacific region include Sumitomo Chemicals, Toray International Inc., Polyplastics Co. Ltd., Ueno Fine Chemicals Industry, Ltd., and Shanghai PRET Composites Co. Ltd. Moreover, rapid growth of electronics industry in the Asia Pacific region is expected to drive growth of the liquid crystal polymer market over the forecast period. For instance, according to the India Brand Equity Foundation, Indian appliance & consumer electronics market was valued at US$ 31.48 billion in 2017 and is expected to increase at a CAGR of 9% to reach US$ 48.37 billion by 2022.
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