Global Liquid Crystal Polymer (LCP) Market Overview
Global market for liquid crystal polymers (LCP) is expected to grow at a
CAGR of about 5% during the forecast period, on the back of superior
properties of LCPs and increasing demand for engineering resins for
manufacturing ultra-thin electrical components. Strong demand for thinner
and smaller electrical components that can withstand high wear and
temperatures is among the other key factors expected to fuel the market in
coming years. LCP is a super engineering plastic, with a combination of
high modulus, strength and impact properties, resistance to a broad range
of aggressive chemicals, low and tailorable coefficients of thermal
expansion (CTE), thin-wall flowability, outstanding dimensional stability
and unique processability.
Global Liquid Crystal Polymer (LCP) Market Segmentation
Global Liquid Crystal Polymer Market
has been categorized based on type, end-user industry and regions. Based on
type, the market has been segmented into thermotropic and lyotropic, while
based on end-user industry, the market has been categorized into electrical
& electronics, industrial machinery, automotive, consumer goods and
others. Among these end-user industries, the electrical & electronics
segment is expected to grow in global LCP market during forecast period,
owing to increasing demand for the miniaturization of electrical and
electronic components, wherein manufacturers are streamlining devices to
have more features into smaller packages. Regular use of electronics, such
as cell phones, tablet PCs or laptops is growing rapidly across the globe.
Simultaneously, these devices are becoming inexpensive and more powerful
from generation to generation, while declining in weight and size.
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“Global Liquid Crystal Polymer (LCP) Market”
United States aircraft giant Boeing and Chinese aviation manufacturer
Commercial Aircraft Corporation of China Ltd (COMAC) are planning to build
a Boeing 737 production system, which is expected to start its operations
soon. This factor is likely to propel the aerospace manufacturing industry,
which, in turn, is anticipated to boost the demand for liquid crystalline
polymers for aerospace and aviation applications.
Global Liquid Crystal Polymer (LCP) Regional Segmentation and Trends
Europe is anticipated to register fastest growth rate in global liquid
crystal polymer market during the forecast period. Asia-Pacific (APAC)
dominated the market in 2018 and is expected to continue its market
dominance in coming years as well. Globally, China is the largest
electronics production base and gives stiff competition to the existing
upstream producers, such as Singapore, South Korea and Taiwan. The
electronics manufacturing industry is continuously moving to China, due to
increasing demand and low-cost of electronic products. With growing
disposable income of rising middle class population, demand for electronics
is expected to grow in the future, thereby driving the global liquid
crystalline polymer market.
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Global liquid crystalline polymer market is consolidated in nature, with
the top five LCP manufacturing companies accounting for more than 85% of
the global production. Some of the leading companies in global LCP market
are Celanese Corporation, Polyplastics Co., Ltd., Sumitomo Chemical Company
Limited, Shenzhen Wote Advanced Materials Co. Ltd., Solvay SA, Toray
Industries Inc., Chang Chun Plastics Co. Ltd, Shanghai Pret Composites Co.
Ltd. and Ueno Fine Chemicals Industry Ltd. Some of the leading players in
global liquid crystal polymer (LCP) market are Celanese Corporation,
Polyplastics Co., Ltd., Sumitomo Chemical Company Limited, Shenzhen Wote
Advanced Materials Co. Ltd., Solvay SA, Toray Industries Inc., Chang Chun
Plastics Co. Ltd, Shanghai Pret Composites Co. Ltd., Ueno Fine Chemicals
Industry Ltd., etc.
TechSci Research performed both primary as well as exhaustive secondary
research for this study. Initially, TechSci Research sourced a list of
leading manufacturers across the globe. Subsequently, TechSci Research
conducted primary research surveys with the identified companies. While
interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the manufacturers
which could not be identified due to the limitations of secondary research.
TechSci Research analyzed the product offerings, distribution channels and
presence of all major players operating in global liquid crystal polymer
TechSci Research calculated global
Liquid Crystal Polymer Market
size using a top-down approach, where data for various end-user segments
was recorded and forecast for the future years. TechSci Research sourced
these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product
types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial
reports were also studied by TechSci Research.