Global liquid crystal polymer market was value US$ 920 Mn in 2017, and expected to reach US$ 1522 Mn by 2026, at CAGR of 6.5 % during forecast period.
The global liquid crystal polymer market is driven by the increased demand form the end-user industries such as electrical & electronics, consumer goods, automotive, lighting, and medical, among others. Electrical & electronics emerged as the leading application segment Growing engineering resins demand for manufacturing ultra-thin electrical components is expected to remain a key driving factor for this segment.
Liquid crystal polymer has a unique combination of high stiffness, high temperature resistance, and high flow makes them particularly well suited to the growing trend of miniaturization in the Due to these high flow properties, they can be injection-molded into thin-wall components. Electrical & electronics industry and the increasing acceptance in microinjection molding. Applications such as connectors with high pin density have been driving the notable growth in liquid crystal polymers consumption.
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Liquid crystal polymers are utilized in various applications focusing on electronic components that include smartphones, laptop, desktop, and tablets. Furthermore, liquid crystal polymers are consumed for automotive and industrial applications as well as in aerospace and medical. Owing to their increasing consumption in various end-use industries, the liquid crystal polymers market is expected to increase at a high CAGR over the forecast period.
Liquid crystal polymer is extensively used in the automotive industry due to its high strength, low weight, and abrasion resistance properties. Liquid crystal polymer can replace materials such as ceramics, metals, composites, and other plastics owing resistance to virtually all chemicals, weathering, radiation, and fire. Increase in demand for engineering resins to manufacture ultra-thin electrical components is expected to remain a key driver for the liquid-crystal polymers market.
Asia Pacific dominates the market 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 and, rise in the number of new manufacturing capabilities which is anticipated to witness Asia Pacific emerge into a prime driver of growth for the global liquid crystal polymers market. North America and Europe are projected to witness a significant growth during the forecast period.
Key players operating in the global liquid crystal polymer market are Celanese Corporation, Polyplastics Co., Ltd, Solvay SA., Kuraray Co., Ltd, Lehmann & Voss & Co., SABIC Innovative Plastics, and Toray International, Inc.
The report covers total market for liquid crystal polymer market has been analyzed based on the Porter’s five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Scope of Liquid Crystal Polymer Market:
Global Liquid Crystal Polymer Market, By Application
• Electrical & Electronics
• Others (Medical, Cookware)
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Global Liquid Crystal Polymer Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Liquid Crystal Polymer Market:
• Celanese Corporation
• Polyplastics Co., Ltd
• Solvay SA.
• Kuraray Co., Ltd.
• Toray International, Inc.
• SABIC Innovative Plastics
• Lehmann & Voss & Co.
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