Liquid Crystal Polymer Market

Market Snapshot

As per the revised liquid crystal polymer industry analysis by Fact.MR, the global market is anticipated to reach a valuation of US$ 2 Bn by 2031, expanding at a steady CAGR of 5% across the assessment period of 2021 to 2031.

Liquid crystal polymers (LCPs) possess excellent properties - they are fire-resistant at high temperatures and chemically-resistant in very thin-walled applications. As such, they hold immense potential for a variety of applications that depend on an optical or a mechanical response to external stimuli.

Key Points Covered in Liquid Crystal Polymer Industry Survey:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Assessment by Product Grade / Purity / Formulation Standards
• Certifications and Compliance Requirements
• Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
• COVID-19 Impact on Liquid Crystal Polymer Sales and How to Navigate
• Recommendation on Key Winning Strategies

Consumption Analysis of Liquid Crystal Polymers from 2016 to 2020 Vs Demand Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, the global liquid crystal polymer market was valued at US$ 1.2 Bn in 2020, and is expected to expand at a CAGR of 5% across the forecast period.

Popularity of liquid crystal polymers in the electrical and electronics industry and medical industries has increased over the past few years. These industries are expected to increase the market size over forecast period. Moreover, the medical industries will be boosted because of covid-19. Besides, the automobile industry is undergoing a major transformation on account of; increasingly important global environmental issues, stringent energy conservation and with strict exhaust gas regulations coming into the picture.

Due to these issues, automobile industries are developing alternative drive systems to the conventional internal combustion engine for hybrid vehicles, including electric vehicles and fuel cell vehicles.

Among all, hybrid vehicles have made the most progress in being commercialized and penetrating the market. Hybrid vehicles include an intelligent power module case that requires heat resistance, insulation properties, solderability, adhesivity, and gel encapsulation, among other functionalities.

The plastic material used must meet several high-performance requirements, including high heat resistance, high breakdown strength, material strength, high flowability, and low outgassing during moulding, which will increase the demand for LCPs during the forecast period. Hence, usage of LCPs in the automotive industry is expected to continue its upward trend during the analysis period.

These factors will further create growth opportunities for liquid crystal polymer manufacturers over the next ten years.

Which Key Factors are Likely to Contribute to Growth of LCPs Over Next Ten Years?

Application of the liquid crystal polymers in the electrical and electronics industry in particular, automotive sector, and potential lucrativeness in the medical applications are highly likely to grow further in the years to come.

While highly priced and low-volume polymer high-performance thermoplastics (HPTPs) continue to garner considerable traction for use in specialized applications that require a combination of extraordinary properties, their adoption is likely to remain bullish in near future. Moreover, liquid crystal polymers are also garnering limelight as a potential replacement for metal parts, as industries shift their focus towards various forms of plastics as light-weighting materials for diverse applications.

Demand for liquid crystal polymers from the electrical & electronics industry is also expected to rise further over the coming years.

What are the Major Trends Driving Demand for LCPs?

Rapidly growing demand for smaller and thinner electrical components that can withstand higher temperatures has been creating new growth opportunities for liquid crystal polymer manufacturers.

Most of the demand for liquid crystal polymer from the electrical & electronics industry is addressed for the production of various types of connectors, electronics components, miniaturized components for smartphones, such as card slots.

Liquid crystal polymers offer high flow abilities and faster cycle times in thinner wall applications required for connectors. Growing use of liquid crystal polymers to manufacture connectors that demand high heat resistance has been creating a stream of opportunities for the growth of the liquid crystal polymer (LCP) market.

Why are LCPs Emerging as a Material of Choice for Fine-pitch Electrical Connectors?

Liquid crystal polymers continue to witness adoption for an unprecedented number of applications, with a new grade of LCPs exhibiting desired compatibility that is required to suffice the perquisites of fine-pitch electrical connectors.

Sumitomo Chemical, for instance, has developed two novel SumikaSuper liquid crystal polymer grades that are specifically designed to suffice the demanding requirements of fine-pitch connector, thereby, assisting liquid crystal polymers gain stronger ground.

The novel SumikaSuper LCP grades for fine-pitch connectors provides exceptional process ability and low war page in extremely-thin wall sections to precisely mould thin, small, light interconnects and through holes.

Additionally, use of liquid crystal polymer in semiconductor packaging is relatively new area of application; however; manufactures are exploring the potential adoption opportunities in this arena to secure long-term gains.

Technologies, namely 5G, foster the need for high heat-resistant materials to be used in laptops, smartphones, communication technology devices, and other electronic devices. As various grades of liquid crystal polymers meet these prerequisites, 5G communication is anticipated to emerge as a hotbed of opportunities for liquid crystal polymer manufacturers.

Which Region is Expected to Offer the Largest Opportunity for Liquid Crystal Polymer Providers?

Asia Pacific dominates the market for liquid crystal polymers 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. Also, rise in the number of new manufacturing capabilities is anticipated to let 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 analysis period. Adoption of lightweight, high-performance materials in the automotive industry in North America and Europe is expected to drive market expansion.

Country-wise Analysis

What are the Market Insights for Liquid Crystal Polymers in China?

The China liquid crystal polymer market is anticipated to expand at a CAGR of 6% across the forecast period.

Market growth can be attributable to China’s growing electrical and electronics industry. Boom in the consumer goods and automotive industries will provide impetus to the LCP market in the country over the coming years.

Category-wise Analysis

Will the Electrical & Electronics Industry Continue to Be the Prime Growth Vertical for LCP Applications?

The electrical & electronics industry continues to expand at a steady pace, specifically in the Asia Pacific region, led by China, which is the largest manufacturer of electronic devices and components globally.

Demand for liquid crystal polymers is increasing by leaps and bounds with correspondence to the growth of the electrical & electronics industry with concentrated applications for LCP.

Liquid crystal polymers are widely leveraged for a variety of surface-mount technology, such as connectors for example, small-outline, dual inline memory modules for laptop and computers as well as flexible printed circuits (FPCs) for tablets and smartphones.

While providing excellent flow to fill multifaceted geometries in short cycle times, outstanding thermal and chemical resistance, and unique mechanical properties, LCPs achieve UL* 94 V-0 flame retardance without requiring flame retardant additives, and the scrap can also be recycled for future use.

Which Segment of Liquid Crystal Polymers Dominates the Market?

The global liquid crystal films & laminates market size is expected to top US$ 175 Mn by 2031, expanding at a CAGR of 7.2% across forecast period. Demand for lightweight and miniaturized components on account of rapidly growing transportation, electronics, and automotive industries in emerging regions is expected to be the main factor driving the market.

Rising consumer awareness regarding energy and resource savings owing to the global energy crisis and increasing pollution levels has also fostered several innovations in the LCP field. This, in turn, has led to the introduction of ‘smart windows’ in residential and commercial buildings to control light, privacy, sound, and insulation.

However, liquid crystal films & laminates have been able to serve only niche applications, owing to highly-specialized and expensive raw materials and production processes.

Competitive Landscape

Market frontrunners are constantly leveraging novel materials and exploring potential applications of liquid crystal polymers to maintain their standpoint. New product development and customized application-based offerings have emerged as a key strategy of market players to gain an extra edge in the market, which is heading towards intensifying competition.

Some of the key developments are:

• In July 2019, Sumitomo Chemical 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.

Liquid Crystal Polymer Market Report Scope

Key Segments Covered in Liquid Crystal Polymer Industry Research

• By Form

  • LCP Resins & Compounds
  • Liquid Crystal Polymer Films
  • Liquid Crystal Polymer Fibers

• By Application

  • Electrical & Electronics
    • Connectors
    • Flexible Circuits
    • Printed Circuit Boards
  • Automotive
    • Lamp Holders
    • Connectors
    • Electronic Components
    • Ignition & Transmission Components
  • Aerospace & Defense
  • Consumer Goods, Sports & Leisure
  • Industrial
    • Measuring Instruments

Liquid Crystal Polymer Market- Scope of Report

A recent study by Fact.MR on the liquid crystal polymer market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering liquid crystal polymers.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies offering liquid crystal polymers, along with their product portfolios, key strategies, and SWOT Analysis, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including revenue growth, and revenue generation across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue from liquid crystal polymers during the forecast period.

Key Questions Answered in Report

• Which are the most lucrative markets for liquid crystal polymers?
• Which factors will impact the growth of liquid crystal polymer market?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the liquid crystal polymer industry?
• What are the winning strategies of stakeholders in the market?

Market Size Evaluation

The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).

Market estimates at global and regional levels for liquid crystal polymers are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global liquid crystal polymer market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on revenue for liquid crystal polymers have been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for key countries has also been included in the report.

Competition Analysis

The report sheds light on leading providers of liquid crystal polymers, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering liquid crystal polymers have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take pre-emptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the liquid crystal polymer market.