Liquid Crystalline Polymers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Liquid Crystalline Polymers Market
The liquid crystalline polymers market size was valued at USD 1.34 billion in 2022, and the market is now projected to grow from USD 1.56 billion in 2023 to USD 2.69 billion by 2031, exhibiting a CAGR of 8.0% during the forecast period of 2022-2029.
The COVID-19 led to disturbances in production activities and shift in demand and supply of electrical and electronic parts which affected LCP production and demands. However, the demands of high-speed network, electronics, and medical equipment demand helped to counter balance this impact. The measures taken by government as part of economic restructuring are believed to help restore health to the markets within several years.
Higher infrastructure development, advancement in technology and higher per capita income are fueling growth in the electronics industry worldwide consequently increasing demand of liquid crystalline polymers (LCPs). Some of the properties of LCPs, including high strength, excellent damping characteristics, and low moisture absorption, prove suitable for electronic components. Therefore, the increasing miniaturization of terminals and compact design of portable smart devices, such as high-frequency network switches, IC sockets, and electrical connectors, drive the development of liquid crystalline polymers market.
During 2021 World Mobile Communications Conference, popular mobile phone manufacturers such as Samsung, Xiaomi, OPPO and vivo supported 5G millimeter-wave development. liquid crystalline polymers are preferable for millimeter-wave high-frequency substrate better than polyimide (PI) and modified polyimide (MPI) frequencies in GHz above 15. Because 5G technology is constantly improving, the superior performance of liquid crystalline polymers makes it more suitable for smartphone antenna membranes, thereby increasing its popularity in the communication sector.
Comprehensive Analysis of Liquid Crystalline Polymers Market
The liquid crystalline polymers market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis include injection molding and extrusion molding. By application analysis include electrical & electronics, automotive, aerospace & defense, and others.
The Asia Pacific region lead the liquid crystalline polymers market share by benefitting a market size of USD 1.04 billion in 2022 due to rising consumer inclination toward electronic products.
The top players in the markets have a central responsibility in the chemicals & advanced materials industry to be sure of industrial prospectus development and to establish the market norms. These players include, Celanese, Polyplastics Co. Ltd, Sumitomo Chemical Company, ENEOS LC Co., Ltd., Solvay, Shenzhen Wote Advanced Materials Co. Ltd, Kingfa Sci. & Tec. Co., Ltd., Ueno Fine Chemicals Industry, Shanghai PRET, TORAY these market players provide a level-playing competitive landscape.
In January 2021, Celanese Corporation announced plans to build a multi-phase Liquid Crystal Polymer (LCP) plant in China, aiming to produce 20 kilotons per year by 2024 to support its Vectra and Zenite LCP product lines.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2018-2029
Base Year 2021
Estimated Year 2022
Forecast Period 2022-2029
Historical Period 2018-2020
Unit Value (USD Billion); Volume (Million Tons)
Segmentation Type; Application; and Geography
By Type Injection Molding
Extrusion Molding
By Application Electrical & Electronics
Automotive
Aerospace & Defense
Others
By Geography North America (By Type, By Application, By Country)
U.S. (By Application)
Canada (By Application)
Europe (By Type, By Application, By Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Rest of Europe (By Application)
Asia Pacific (By Type, By Application, By Country)
China (By Application)
Japan (By Application)
South Korea (By Application)
India (By Application)
Rest of Asia Pacific (By Application)
Rest of World (By Type, By Application, By Country)
Latin America (By Application)
Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on Global Liquid Crystalline Polymers Market
- 5. Global Liquid Crystalline Polymers Market Analysis, Insights and Forecast, 2018-2029
- 5.1. Key Findings / Summary
- 5.2. By Type (Volume/Value)
- 5.2.1. Injection Molding
- 5.2.2. Extrusion Molding
- 5.3. By Application (Volume/Value)
- 5.3.1. Electrical & Electronics
- 5.3.2. Automotive
- 5.3.3. Aerospace & Defense
- 5.3.4. Others
- 5.4. By Region (Volume/Value)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Rest of World
- 6. North America Liquid Crystalline Polymers Market Analysis, Insights and Forecast, 2018-2029
- 6.1. Key Findings / Summary
- 6.2. By Type (Volume/Value)
- 6.2.1. Injection Molding
- 6.2.2. Extrusion Molding
- 6.3. By Application (Volume/Value)
- 6.3.1. Electrical & Electronics
- 6.3.2. Automotive
- 6.3.3. Aerospace & Defense
- 6.3.4. Others
- 6.4. By Country (Volume/Value)
- 6.4.1. U.S.
- 6.4.1.1. By Application (Volume/Value)
- 6.4.1.1.1. Electrical & Electronics
- 6.4.1.1.2. Automotive
- 6.4.1.1.3. Aerospace & Defense
- 6.4.1.1.4. Others
- 6.4.2. Canada
- 6.4.2.1. By Application (Volume/Value)
- 6.4.2.1.1. Electrical & Electronics
- 6.4.2.1.2. Automotive
- 6.4.2.1.3. Aerospace & Defense
- 6.4.2.1.4. Others
- 7. Europe Liquid Crystalline Polymers Market Analysis, Insights and Forecast, 2018-2029
- 7.1. Key Findings / Summary
- 7.2. By Type (Volume/Value)
- 7.2.1. Injection Molding
- 7.2.2. Extrusion Molding
- 7.3. By Application (Volume/Value)
- 7.3.1. Electrical & Electronics
- 7.3.2. Automotive
- 7.3.3. Aerospace & Defense
- 7.3.4. Others
- 7.4. By Country (Volume/Value)
- 7.4.1. Germany
- 7.4.1.1. By Application (Volume/Value)
- 7.4.1.1.1. Electrical & Electronics
- 7.4.1.1.2. Automotive
- 7.4.1.1.3. Aerospace & Defense
- 7.4.1.1.4. Others
- 7.4.2. UK
- 7.4.2.1. By Application (Volume/Value)
- 7.4.2.1.1. Electrical & Electronics
- 7.4.2.1.2. Automotive
- 7.4.2.1.3. Aerospace & Defense
- 7.4.2.1.4. Others
- 7.4.3. France
- 7.4.3.1. By Application (Volume/Value)
- 7.4.3.1.1. Electrical & Electronics
- 7.4.3.1.2. Automotive
- 7.4.3.1.3. Aerospace & Defense
- 7.4.3.1.4. Others
- 7.4.4. Italy
- 7.4.4.1. By Application (Volume/Value)
- 7.4.4.1.1. Electrical & Electronics
- 7.4.4.1.2. Automotive
- 7.4.4.1.3. Aerospace & Defense
- 7.4.4.1.4. Others
- 7.4.5. Spain
- 7.4.5.1. By Application (Volume/Value)
- 7.4.5.1.1. Electrical & Electronics
- 7.4.5.1.2. Automotive
- 7.4.5.1.3. Aerospace & Defense
- 7.4.5.1.4. Others
- 7.4.6. Rest of Europe
- 7.4.6.1. By Application (Volume/Value)
- 7.4.6.1.1. Electrical & Electronics
- 7.4.6.1.2. Automotive
- 7.4.6.1.3. Aerospace & Defense
- 7.4.6.1.4. Others
- 8. Asia-Pacific Liquid Crystalline Polymers Market Analysis, Insights and Forecast, 2018-2029
- 8.1. Key Findings / Summary
- 8.2. By Type (Volume/Value)
- 8.2.1. Injection Molding
- 8.2.2. Extrusion Molding
- 8.3. By Application (Volume/Value)
- 8.3.1. Electrical & Electronics
- 8.3.2. Automotive
- 8.3.3. Aerospace & Defense
- 8.3.4. Others
- 8.4. By Country (Volume/Value)
- 8.4.1. China
- 8.4.1.1. By Application (Volume/Value)
- 8.4.1.1.1. Electrical & Electronics
- 8.4.1.1.2. Automotive
- 8.4.1.1.3. Aerospace & Defense
- 8.4.1.1.4. Others
- 8.4.2. Japan
- 8.4.2.1. By Application (Volume/Value)
- 8.4.2.1.1. Electrical & Electronics
- 8.4.2.1.2. Automotive
- 8.4.2.1.3. Aerospace & Defense
- 8.4.2.1.4. Others
- 8.4.3. South Korea
- 8.4.3.1. By Application (Volume/Value)
- 8.4.3.1.1. Electrical & Electronics
- 8.4.3.1.2. Automotive
- 8.4.3.1.3. Aerospace & Defense
- 8.4.3.1.4. Others
- 8.4.4. India
- 8.4.4.1. By Application (Volume/Value)
- 8.4.4.1.1. Electrical & Electronics
- 8.4.4.1.2. Automotive
- 8.4.4.1.3. Aerospace & Defense
- 8.4.4.1.4. Others
- 8.4.5. Rest of Asia Pacific
- 8.4.5.1.
- 8.4.5.1.1. Electrical & Electronics
- 8.4.5.1.2. Automotive
- 8.4.5.1.3. Aerospace & Defense
- 8.4.5.1.4. Others
- 9. Rest of World Liquid Crystalline Polymers Market Analysis, Insights and Forecast, 2018-2029
- 9.1. Key Findings / Summary
- 9.2. By Type (Volume/Value)
- 9.2.1. Injection Molding
- 9.2.2. Extrusion Molding
- 9.3. By Application (Volume/Value)
- 9.3.1. Electrical & Electronics
- 9.3.2. Automotive
- 9.3.3. Aerospace & Defense
- 9.3.4. Others
- 9.4. By Country (Volume/Value)
- 9.4.1. Latin America
- 9.4.1.1. By Application (Volume/Value)
- 9.4.1.1.1. Electrical & Electronics
- 9.4.1.1.2. Automotive
- 9.4.1.1.3. Aerospace & Defense
- 9.4.1.1.4. Others
- 9.4.2. Middle East & Africa
- 9.4.2.1. By Application (Volume/Value)
- 9.4.2.1.1. Electrical & Electronics
- 9.4.2.1.2. Automotive
- 9.4.2.1.3. Aerospace & Defense
- 9.4.2.1.4. Others
- 10. Company Profiles
- 10.1. Celanese
- 10.1.1. Overview
- 10.1.2. Description
- 10.1.3. Type Portfolio
- 10.1.4. Financials (As per Availability)
- 10.1.5. Recent Developments
- 10.2. Polyplastics Co. Ltd
- 10.2.1. Overview
- 10.2.2. Description
- 10.2.3. Type Portfolio
- 10.2.4. Financials (As per Availability)
- 10.2.5. Recent Developments
- 10.3. Sumitomo Chemical Company
- 10.3.1. Overview
- 10.3.2. Description
- 10.3.3. Type Portfolio
- 10.3.4. Financials (As per Availability)
- 10.3.5. Recent Developments
- 10.4. ENEOS LC Co., Ltd.
- 10.4.1. Overview
- 10.4.2. Description
- 10.4.3. Type Portfolio
- 10.4.4. Financials (As per Availability)
- 10.4.5. Recent Developments
- 10.5. Solvay
- 10.5.1. Overview
- 10.5.2. Description
- 10.5.3. Type Portfolio
- 10.5.4. Financials (As per Availability)
- 10.5.5. Recent Developments
- 10.6. Shenzhen Wote Advanced Materials Co. Ltd
- 10.6.1. Overview
- 10.6.2. Description
- 10.6.3. Type Portfolio
- 10.6.4. Financials (As per Availability)
- 10.6.5. Recent Developments
- 10.7. Kingfa Sci. & Tec. Co., Ltd.
- 10.7.1. Overview
- 10.7.2. Description
- 10.7.3. Type Portfolio
- 10.7.4. Financials (As per Availability)
- 10.7.5. Recent Developments
- 10.8. Ueno Fine Chemicals Industry
- 10.8.1. Overview
- 10.8.2. Description
- 10.8.3. Type Portfolio
- 10.8.4. Financials (As per Availability)
- 10.8.5. Recent Developments
- 10.9. Shanghai PRET
- 10.9.1. Overview
- 10.9.2. Description
- 10.9.3. Type Portfolio
- 10.9.4. Financials (As per Availability)
- 10.9.5. Recent Developments
- 10.10. TORAY
- 10.10.1. Overview
- 10.10.2. Description
- 10.10.3. Type Portfolio
- 10.10.4. Financials (As per Availability)
- 10.10.5. Recent Developments
- 10.11. Other Key Players
- 10.11.1. Overview
- 10.11.2. Description
- 10.11.3. Type Portfolio
- 10.11.4. Financials (As per Availability)
- 10.11.5. Recent Developments
- 11. Strategic Recommendations
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