Liquid Crystal Polymer Market Size, Share & Trends Analysis Report By Application (Electrical Connectors, Fiber Optics, Automotive Lamps, Cookware Coatings), By End-use (Automotive, Medical), By Region, And Segment Forecasts, 2023 - 2030

Liquid Crystal Polymer Market Size, Share & Trends Analysis Report By Application (Electrical Connectors, Fiber Optics, Automotive Lamps, Cookware Coatings), By End-use (Automotive, Medical), By Region, And Segment Forecasts, 2023 - 2030

Liquid Crystal Polymer Market Growth & Trends

The global liquid crystal polymer market size is expected to reach USD 3.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.6% from 2023 to 2030. Growing demand for lightweight and miniaturized components on account of expanding transportation, electronics and automotive industries in emerging markets is expected to remain a crucial determinant for the global industry growth.

Increasing R&D investments coupled with rising product innovations in liquid crystal polymer (LCP) are some of the important factors boosting the growth of the market. The electrical and electronics end-use segment is dominating the LCP market owing to its enhanced dimensional stability, unique processability, and thin-wall flowability.

Increasing application scope in different industries coupled with consumer preference for lightweight and miniaturized electronic components including connectors, surface mount devices and others are the driving the demand for LCP. In addition, factors including minimal moisture absorption, abrasion resistance, thermal expansion, flexibility, environment-friendliness, and low cost of maintenance are attributed to the market growth.

The medical end-use segment registered the highest CAGR of 11.9% over the forecast period. This is owing to increasing investments in R&D to develop liquid crystal polymer (LCP) which is emerging as a substitute for metals and plastic in medical equipment’s and devices. Furthermore, growing prominence of technologies including 5G communication and 3D printing is propelling the demand for LCP as a material with a positive outlook for mobile phone antennas application. These factors are expected to boost the market growth over the forecast period.

Liquid Crystal Polymer Market Report Highlights

• The market demand was 96.71 kilotons in 2022 and is expected to reach 208.44 kilotons by 2030, expanding at a CAGR of 10.2% from 2023 to 2030
• The electrical and electronics was the largest end-use segment with a revenue share of more than 25.0% in 2022. Daily utilization of electronic equipment is increasing and these devices are becoming inexpensive and powerful while decreasing in weight and size
• Asia Pacific dominated the market with a revenue share of more than 36.0% in 2022. The region is characterized by high electronics production in Japan, Korea and Southeast Asian markets.
• The automotive end-use segment accounted for a significant revenue share of more than 13% in 2022. In automotive LCP is utilized for applications including reflectors, lamp sockets, fog lamp bezels, and others. In addition, it can be used at high temperatures, resists outgassing in lighting systems, and offers enhanced dimensional stability

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