Liquid Crystal Polymers Market
Liquid Crystal Polymers Market Forecasts to 2030 - Global Analysis By Type (Thermotropic LCP and Lyotropic LCP), Application (Electrical and Electronics, Automotive, Industrial and Other Applications) and By Geography
According to Stratistics MRC, the Global Liquid Crystal Polymers Market is accounted for $1.54 billion in 2023 and is expected to reach $3.04 billion by 2030 growing at a CAGR of 10.2% during the forecast period. Liquid Crystal Polymers (LCPs) are high-performance engineering thermoplastics characterized by an ordered molecular structure resembling both liquids and solids. Known for exceptional mechanical, thermal, and chemical properties, LCPs exhibit low coefficients of thermal expansion, high stiffness, flame resistance, and excellent dimensional stability. Widely used in electronics, automotive, aerospace, and industrial applications, LCPs offer versatility and reliability in demanding environments requiring precision and performance.
According to a survey by the Japan Electronics and Information Technology Industries Association (JEITIA), global electronics and information technology production surged by 8% in 2018 compared to the previous year, reaching US$2,934.5 billion. The survey further predicts a 4% increase in 2019, bringing the projected total to US$3,045.8 billion.
Market Dynamics:
Driver:
Growing demand from electronics industry
The growing demand for LCPs in the electronics industry is a key driver for the market. LCPs offer excellent electrical properties, dimensional stability, and high heat resistance, making them ideal for electronic components such as connectors, sockets, and printed circuit boards. The increasing miniaturization of electronic devices and the need for high-performance materials in the industry are fueling the demand for LCPs, contributing to market growth.
Restraint:
High cost of LCPs
The complex manufacturing process and the need for specialized equipment contribute to the higher production costs of LCPs. This cost factor limits the adoption of LCPs in price-sensitive applications and industries, hindering market growth. The high cost also poses challenges for small and medium-sized companies looking to incorporate LCPs into their products.
Opportunity:
Customization and material innovation
Customization and material innovation present significant opportunities in the LCP market. LCPs can be tailored to meet specific application requirements through the development of new formulations and blends. Collaborations between LCP manufacturers and end-users to create customized solutions can expand the market potential. Innovations in LCP materials, such as improved processability and enhanced properties, can open up new application areas and drive market growth.
Threat:
Limited processability
LCPs have a narrow processing window and require precise control over temperature and shear rates during molding. This complexity in processing can lead to challenges in achieving consistent part quality and may require specialized equipment and expertise. The limited processability can deter some manufacturers from adopting LCPs, especially those without the necessary technical capabilities.
Covid-19 Impact:
The COVID-19 pandemic has had a mixed impact on the liquid crystal polymers market. While the electronics industry experienced a surge in demand for devices and components due to remote work and online education, disruptions in supply chains and manufacturing operations affected the liquid crystal polymers market. However, the pandemic has also accelerated the trend towards miniaturization and high-performance electronics, which is expected to drive long-term growth in the liquid crystal polymers market.
The thermotropic LCP segment is expected to be the largest during the forecast period
The thermotropic LCP segment is expected to be the largest during the forecast period. Thermotropic LCPs exhibit excellent mechanical properties, chemical resistance, and thermal stability, making them suitable for a wide range of applications. Their ability to be molded into complex shapes and their compatibility with high-volume manufacturing processes contribute to their dominant market position. The growing demand for thermotropic LCPs in the electronics, automotive, and industrial sectors is driving the segment's growth.
The automotive segment is expected to have the highest CAGR during the forecast period
The automotive segment is expected to have the highest CAGR during the forecast period. LCPs are increasingly being used in automotive applications due to their lightweight, high strength, and thermal resistance properties. The automotive industry's focus on weight reduction and improved fuel efficiency is driving the adoption of LCPs in components such as connectors, sensors, and structural parts. The growing trend towards electric vehicles and advanced driver assistance systems (ADAS) further fuels the demand for LCPs in the automotive sector.
Region with largest share:
The Asia Pacific region is positioned to dominate the liquid crystal polymers market. The region's large electronics manufacturing base, particularly in countries like China, Japan, and South Korea, is a key factor driving the demand for LCPs. The presence of major LCP manufacturers and the rapid growth of the electronics industry in the region contribute to its dominant market position. Additionally, the increasing automotive production and the focus on advanced technologies in the Asia Pacific region further support market growth.
Region with highest CAGR:
The Asia Pacific region also anticipates rapid growth in the liquid crystal polymers market. The region's expanding middle class, rising disposable incomes, and increasing consumer demand for electronic devices are driving the growth of the LCP market. Governments in the region are also promoting the development of high-tech industries, including electronics and automotive, which is expected to fuel the demand for LCPs. The region's cost-competitive manufacturing capabilities and the presence of a skilled workforce further contribute to its high growth potential.
Key players in the market
Some of the key players in Liquid Crystal Polymers Market include Avient Corporation, Celanese Corporation, Chang Chun Group, Ensinger, Grupa Azoty ZAK S.A., Kuraray Co., Ltd., Lehmann & Voss & Co. KG, Polyplastics Co., Ltd., RTP Company, SABIC, Samsung Fine Chemicals, Shanghai Kinlita Chemical Co., Ltd., Shanghai Liansheng Chemical Co., Ltd., Shenzhen Wote Advanced Materials Co., Ltd., Solvay, Sumitomo Chemical Co., Ltd., Toray Industries, Inc. and Ueno Fine Chemicals Industry, Ltd.
Key Developments:
In October 2022, Chang Chun Arizona, a subsidiary of Chang Chun Group, broke ground on its first U.S. manufacturing facility in Casa Grande, Arizona. The facility will produce electronic-grade chemicals to support the semiconductor industry and is expected to be operational in 2023.
In July 2022, Sumitomo Chemical Advanced Technologies has developed a new long-fiber thermoplastic liquid crystal polymer, namely, SUMIKASUPER to be further utilized across optical fiber applications.
In September 2021, Grupa Azoty ZAK S.A. introduced changes in its Oxoplast segment, expanding its product portfolio with specialty plasticizers under the Oxofine brand.
Types Covered:
• Thermotropic LCP
• Lyotropic LCP
Applications Covered:
• Electrical and Electronics
• Automotive
• Industrial
• Aerospace and Defense
• Healthcare
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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 2021, 2022, 2023, 2026, and 2030
- 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
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o 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
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Liquid Crystal Polymers Market, By Type
5.1 Introduction
5.2 Thermotropic LCP
5.3 Lyotropic LCP
6 Global Liquid Crystal Polymers Market, By Application
6.1 Introduction
6.2 Electrical and Electronics
6.2.1 Connectors
6.2.2 Printed Circuit Boards (PCBs)
6.2.3 Sockets
6.2.4 Other Electronic Applications
6.3 Automotive
6.3.1 Engine Components
6.3.2 Fuel System Components
6.3.3 Transmission Parts
6.3.4 Other Automotive Applications
6.4 Industrial
6.4.1 Bearings
6.4.2 Gears
6.4.3 Machinery Components
6.4.4 Other Industrial Applications
6.5 Aerospace and Defense
6.5.1 Aircraft Components
6.5.2 Defense Equipment
6.5.3 Other Aerospace and Defense Applications
6.6 Healthcare
6.6.1 Medical Devices
6.6.2 Pharmaceutical Packaging
6.6.3 Other Healthcare Applications
6.7 Other Applications
7 Global Liquid Crystal Polymers Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Avient Corporation
9.2 Celanese Corporation
9.3 Chang Chun Group
9.4 Ensinger
9.5 Grupa Azoty ZAK S.A.
9.6 Kuraray Co., Ltd.
9.7 Lehmann & Voss & Co. KG
9.8 Polyplastics Co., Ltd.
9.9 RTP Company
9.10 SABIC
9.11 Samsung Fine Chemicals
9.12 Shanghai Kinlita Chemical Co., Ltd.
9.13 Shanghai Liansheng Chemical Co., Ltd.
9.14 Shenzhen Wote Advanced Materials Co., Ltd.
9.15 Solvay
9.16 Sumitomo Chemical Co., Ltd.
9.17 Toray Industries, Inc.
9.18 Ueno Fine Chemicals Industry, Ltd.
List of Tables
1 Global Liquid Crystal Polymers Market Outlook, By Region (2021-2030) ($MN)
2 Global Liquid Crystal Polymers Market Outlook, By Type (2021-2030) ($MN)
3 Global Liquid Crystal Polymers Market Outlook, By Thermotropic LCP (2021-2030) ($MN)
4 Global Liquid Crystal Polymers Market Outlook, By Lyotropic LCP (2021-2030) ($MN)
5 Global Liquid Crystal Polymers Market Outlook, By Application (2021-2030) ($MN)
6 Global Liquid Crystal Polymers Market Outlook, By Electrical and Electronics (2021-2030) ($MN)
7 Global Liquid Crystal Polymers Market Outlook, By Connectors (2021-2030) ($MN)
8 Global Liquid Crystal Polymers Market Outlook, By Printed Circuit Boards (PCBs) (2021-2030) ($MN)
9 Global Liquid Crystal Polymers Market Outlook, By Sockets (2021-2030) ($MN)
10 Global Liquid Crystal Polymers Market Outlook, By Other Electronic Applications (2021-2030) ($MN)
11 Global Liquid Crystal Polymers Market Outlook, By Automotive (2021-2030) ($MN)
12 Global Liquid Crystal Polymers Market Outlook, By Engine Components (2021-2030) ($MN)
13 Global Liquid Crystal Polymers Market Outlook, By Fuel System Components (2021-2030) ($MN)
14 Global Liquid Crystal Polymers Market Outlook, By Transmission Parts (2021-2030) ($MN)
15 Global Liquid Crystal Polymers Market Outlook, By Other Automotive Applications (2021-2030) ($MN)
16 Global Liquid Crystal Polymers Market Outlook, By Industrial (2021-2030) ($MN)
17 Global Liquid Crystal Polymers Market Outlook, By Bearings (2021-2030) ($MN)
18 Global Liquid Crystal Polymers Market Outlook, By Gears (2021-2030) ($MN)
19 Global Liquid Crystal Polymers Market Outlook, By Machinery Components (2021-2030) ($MN)
20 Global Liquid Crystal Polymers Market Outlook, By Other Industrial Applications (2021-2030) ($MN)
21 Global Liquid Crystal Polymers Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
22 Global Liquid Crystal Polymers Market Outlook, By Aircraft Components (2021-2030) ($MN)
23 Global Liquid Crystal Polymers Market Outlook, By Defense Equipment (2021-2030) ($MN)
24 Global Liquid Crystal Polymers Market Outlook, By Other Aerospace and Defense Applications (2021-2030) ($MN)
25 Global Liquid Crystal Polymers Market Outlook, By Healthcare (2021-2030) ($MN)
26 Global Liquid Crystal Polymers Market Outlook, By Medical Devices (2021-2030) ($MN)
27 Global Liquid Crystal Polymers Market Outlook, By Pharmaceutical Packaging (2021-2030) ($MN)
28 Global Liquid Crystal Polymers Market Outlook, By Other Healthcare Applications (2021-2030) ($MN)
29 Global Liquid Crystal Polymers Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
