Liquid Crystalline Polymers Market Forecasts to 2028 – Global Analysis By Type (Lyotropic, Thermotropic), Application (Lighting, Automotive, Industrial), and By Geography
According to Stratistics MRC, the Global Liquid Crystalline Polymers Market is accounted for $1.22 billion in 2021 and is expected to reach $2.41 billion by 2028 growing at a CAGR of 10.2% during the forecast period. Liquid crystal polymers are a class of unique aromatic polymers based on 4-hydroxybenzoic acid and related monomers. Liquid crystal polymers possess excellent properties - they are fire-resistant at high temperatures and chemically resistant in very thin-walled applications.
Market Dynamics:
Driver:
Introduction of new generation technologies
Technologies such as 5G and 3D printing are key drivers in increasing demand for liquid crystal polymers. The demand for liquid crystal polymers is growing at a very rapid pace with a huge number of applications, ranging from electrical & electronics and automotive to consumer goods, sports, leisure, and medical devices. Moreover, the increasing application of liquid crystal polymer films in flexible solar cells, due to their exceptional heat resistance and low water absorbency is also underpinning gains for the market. In the emerging 5G communication, liquid crystal polymers are being viewed on a large scale as novel materials with an optimistic outlook for mobile phone antennas.
Restraint:
High cost
The cost of liquid crystal polymers is usually high compared to traditional polymers which is a key challenge and this might affect the market’s growth. The manufacturing process of liquid crystal polymers is an energy-intensive and complex process, resulting in high-cost prices. Such high-cost nature of liquid crystal polymers might affect the market’s growth during the forecast period. To manufacture liquid crystal polymers, products with high-temperature functions and a high level of technical expertise are needed. So, both the manufacturing process and the final liquid crystal polymer products are expensive. The high price of liquid crystal polymers limits their use to high-end application areas, thus restricting the market growth.
Opportunity:
Emerging market for thermoplastic polymers
Thermoplastics have the characteristics to become liquid when heated and back to the solid-state when cooled. The cycle of melting and freezing can be recurrent. This will allow the plastic to be reshaped by heating it. Liquid crystal polymers are the major thermoplastics utilized for high-temperature applications in various end-use industries. Because of their properties, thermoplastic polymers are gaining importance as an alternative to traditional materials. Thermoplastics are likely to have many emerging applications in the near future, which will further enhance the growth prospects for liquid crystal polymers.
Threat:
Limited market opportunities in developed countries
The US, Germany, the UK, and Japan have highly developed economies and advanced industrial activities. They have a well-established infrastructure for the public, commercial, and transportation sectors. The developed infrastructure in these countries signifies low prospects for new players. Therefore, there is limited scope for the growth of the liquid crystalline polymer market in these countries. Manufacturers of hybrid adhesives & sealants need to develop innovative products to capture newer markets. Thus, limited market opportunities in developed countries act as a key challenge for the growth of the liquid crystalline polymers market.
The thermotropic segment is expected to be the largest during the forecast period
The thermotropic segment is estimated to have a lucrative growth as this type of polymer has excellent thermal properties, low viscosity, and exhibits superior elastic behavior. Thermotropic liquid crystal polymers are extensively recognized polymers owing to their application in various electronics. Because of such diverse properties and uses, market players and research organizations are expanding the portfolio of thermotropic liquid crystal polymer.
The electrical & electronics segment is expected to have the highest CAGR during the forecast period
The electrical & electronics segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the massive growth in the demand for electronic products globally. The high-quality properties of liquid crystal polymers allow the massive use of liquid crystal polymers in various electronic product components and parts such as antenna substrates and housings, chip carriers, flexible printed circuits, etc.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to rapid expansion of the electrical & electronics industry, increasing domestic demand, coupled with affordable manufacturing facilities, and increasing population and demands, accompanied by initiatives for new technologies and products. The increasing electrical & electronics, automobile, and consumer goods industries are propelling the demand for liquid crystal polymers in the region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period owing to the presence of major automotive OEMs along with consumer inclination towards high-end automobiles, recent advancements in vehicular electronic devices complementing compact design and impact resistance, and increasing industrial machinery application substituting ceramic materials and mass transfer packaging in chemical industries.
Key players in the market
Some of the key players profiled in the Liquid Crystalline Polymers Market include Shenzhen WOTE Advanced Materials Co Ltd, UENO Fine Chemicals Industry Ltd, Toray Industries, Inc., Sumitomo Chemicals Co. Ltd., Chang Chun Plastics Co. Ltd, Solvay S.A, Polyplastics Co., Ltd, Shanghai PRET Composites Co. Ltd, Celanese Corporation and Seyang Polymer.
Key Developments:
In Jan 2021, Celanese Corporation announced its plan to build a world-class liquid crystal polymer (LCP) plant in China. Through this new LCP facility, the company will be able to expand its high-value Zenite and Vectra LCP product lines.
In July 2019, Sumitomo Chemicals Co. Ltd. developed three new LCPs, which include SumikaSuper E6205L, SumikaSuper SR1205L, and SumikaSuper SZ6911EM. These LCPs are specifically designed for high-speed connectors such as backplanes and automotive connectors for infotainment.
Molding Types Covered:
• Extrusion Molding
• Injection Molding
Categories Covered:
• Main Chain LC Polymers
• Side Chain LC Polymers
Types Covered:
• Lyotropic
• Thermotropic
Polymer Types Covered:
• Liquid Crystal Polymer Resins & Compounds
• Liquid Crystal Polymer Laminates
• Liquid Crystal Polymer Films
• Liquid Crystal Polymer Fibers
Brands Covered:
• Xydar
• Vectra/Zenite
• Sumikasuper
• Siveras LCP Resin
• Laperos LCP
Shapes Covered:
• Disc-Shaped Molecules
• Banana-Shaped Molecules
Phases Covered:
• Smectic Phase
• Nematic phase
• Discotic Phase
• Cholesteric Phase
Applications Covered:
• Consumer Goods, Sports & Leisure
• Electrical & Electronics
• Lighting
• Healthcare & Medical Devices
• Automotive
• Food and Beverage Containers
• Aerospace & Defense
• Chemical Processing
• Industrial
• Conducting Foam
• LC Thermometer
• Displays
• Kevlar
• Heat Sensitive Cameras
• Solar cells
• Optical imaging
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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