Liquid Crystal Polymer (LCP) Market – Global Industry Analysis by Type, application, Region and Forecast (2023-2029)

Liquid Crystal Polymer (LCP) Market was estimated to be 54761.35 Metric Tons in 2022. It is expected to reach 72353.72 Metric Tons by 2029, registering a CAGR of 4.06% from 2022 to 2029.
Liquid Crystal Polymer (LCP) Market Overview:
Liquid crystal polymer (LCP) is a super engineering plastic, with a combination of high strength, modulus and impact properties, flame retardance, resistance to a wide range of aggressive chemicals, very low and tailorable coefficients of thermal expansion (CTE), excellent dimensional stability, thin-wall flowability, and unique processability. Due to these excellent characteristics, such thermoplastics are preferred for electrical and electronics applications.To know about the Research Methodology :- Request Free Sample Report
Liquid Crystal Polymer (LCP) Market Dynamics:
LCP is particularly applicable for microwave-frequency electronics due to its low relative dielectric constants, low-dissipation factors, and the commercial availability of laminates. Packaging microelectromechanical systems (MEMS) is another suitable application for LCP. Major developers and manufacturers of electronic components, like EPCOS AG, are employing LCP for its coil formers to produce SMD (surface mount device) transformers used in the telecommunication equipment, as LCPs possess novel properties essential for making miniaturized electronic components for mounting on circuit boards using SMD technology.

These thin-wall designs pose a challenge during the injection molding of micro connectors for devices, such as iPads, robots, computers, cell phones, and satellites. A suitable material should withstand reflow soldering without distorting, melting, or blistering, and (LCPs) prove to be the much-needed ticket compared to other traditional polymers. Therefore, LCPs are also injection molded into integrated circuit (IC) sockets, high-frequency (HF) network switches, power modules for wind and solar inverters and converters, custom high-power electrical connectors, and other precision devices.

One of the significant challenges for the expansion of the LCP market is the relatively high cost of the polymers due to expensive feedstock. Also, the considerable research activity in the industry has centered on attempting to lower monomer costs. A potential route to lower the price and improve property control is blending liquid crystal polymers with conventional polymers. Interesting concepts, such as self-reinforcing and molecular composites, were developed to describe immiscible and miscible liquid crystal polymer-containing blends. Major challenges encountered in this technology are the inherent immiscibility of mesogenic and conventional polymers, leading to large-scale phase separation, the strong dependence of blend morphology (properties) on processing and polymer variables, and lack of adhesion between phases.
Global Liquid Crystal Polymer (LCP) Market Segment Analysis:
On the basis of Type, the Liquid Crystal Polymer market is segmented into Thermotropic and Lytropic. The thermotropic segment is dominating during the forecast period.

Thermotropic liquid crystals are divided into various phases, depending on variations in the temperature. Various phases include:

1.Nematic
2.Smectic
3.Cholesteric/Chiral

The first liquid crystal phase is sematic, where there is a layer-like arrangement, as well as translational and rotational motion of molecules. A further increase in temperature leads to the hematic phase, where the molecules rapidly diffuse out of the initial lattice structure and form layer-like arrangements.

Most of the players in the market studied manufacture thermotropic LCPs. Owing to the melt process ability of thermotropic LCPs, they are finding more applications. This trend is anticipated to further propel the usage of thermotropic LCPs in various applications.

On the basis of Application, it is segmented into electrical and electronics, industrial machinery, automotive, medical, and aerospace. The electrical and electronics segment is dominating with the highest CAGR during the forecast period. The largest end-user of liquid crystal polymers (LCP) is the electrical and electronics industry, followed by the automobile industry. The electrical and electronics industry accounts for almost three-fourth of the LCP market. The downsizing and thinning of electronic components for their utilization in smartphones and new emerging applications are likely to drive the market studied in the coming years.

LCP material's excellent macroscopic properties are determined by its unique molecular structure. LCP is a completely aromatic liquid crystal polyester polymer with a stiff polymer chain structure. Due to the uniqueness of the molecular structure, it has good vibration absorption characteristics, low dielectric properties, self-reinforcing effect, good chemical resistance and heat resistance, low melt viscosity, small linear expansion rate, small molding shrinkage rate, and excellent extinguishing. LCP also has low moisture absorption and high dielectric performance, making it an ideal material candidate for flexible printed circuits (FPCs), antenna substrates, and housings.

As the demand for the internet of things (IoT) products, 5G cellular networks, and video-streaming services expands, the capacity to transfer far greater volumes of data through typically much smaller wired and wireless devices at much higher rates becomes more crucial and complex. As a result, all components used in electronic interconnects are carefully inspected to minimize signal loss/decay, distortion, and interference. In order to upgrade the performance of high-speed connectors and other electronic and electrical components, manufacturers have started to employ high-performance liquid crystal polymers (LCPs).
Global Liquid Crystal Polymer (LCP) Market Regional Insights:
The Liquid Crystal polymer market is studied for North America, Europe, APAC, MEA, and Latin America region. China is the world’s largest electronics production base and offers tough competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, among others, have the highest growth rates in the consumer electronics segment of the market in terms of demand. In terms of value, over 50% of the global printed circuits (PCBs) are manufactured in China (as given in the graph), owing to the incentives offered by the government to PCB factories. Moreover, the country is well-known for producing circuit boards at low costs. Among all the PCB types, flexible and multi-layer boards together account for slightly lesser than 60% of all the units produced in China in 2022.

Japan is the world’s third-largest economy nominal GDP and fourth largest by purchasing power parity. Japan’s GDP growth has been stagnant and has been hovering around 1% for the past decade. In 2022, Japan’s economy registered a growth rate of 0.6%, which slightly decreased to 0.3% in 2022. However, the country’s economy is contracted in 2022.

The Japanese electrical and electronics industry is one of the world’s leading industries. The country is a world leader in the production of video cameras, compact discs, computers, photocopiers, fax machines, cell phones, and various other key computer components.

The US electronics market is the largest worldwide, in terms of size. Furthermore, it is expected to remain as the leading market over the forecast period, due to the usage of advanced technology, backed by an increase in the number of R&D centers and increasing demand from the consumers. The consumer electronics segment witnessed a steady growth rate between 2018-22, owing to a surge in demand and production during 2022-29.

Currently, there is a significant demand for newer and faster electronic products, due to the rapid pace of innovation, advancements in technology, and R&D activities in the electronics industry in the country. The manufacturing plants and development centers in the United States, have been on developing compact high-end products. This is expected to boost the demand for LCP used in the electronics industry, during the forecast period.

The objective of the report is to present a comprehensive analysis of the global Liquid crystal polymer (LCP) market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Liquid crystal polymer (LCP) market dynamics, structure by analyzing the market segments and project the global Liquid crystal polymer (LCP) market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Liquid crystal polymer (LCP) market make the report investor’s guide.
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Global Liquid Crystal Polymer (LCP) Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
54761.35 Metric Ton


Forecast Period 2023 to 2029 CAGR:
4.06%
Market Size in 2029:
72353.72 Metric Ton


 Segments Covered:
by Type
Thermotropic
Lytropic


by Application
Electrical and Electronics
Automotive and Transportation
Packaging
Medical Devices
Others



Liquid Crystal Polymer (LCP) Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Global Liquid Crystal Polymer (LCP) Market Key Players
1. Solvay SA
2. Polyplastics Co. Ltd.
3. Celanese Corporation
4. Rogers Corporation
5. Asia International Enterprise (HK) Limited
6. RTP Company
7. Kuraray Co. Ltd
8. Sumitomo Chemical Company
9. Shanghai PRET Composites Co., Ltd
10. PolyOne Corporation
Frequently Asked Questions:
1] What segments are covered in Global Liquid crystal polymer (LCP) Market report?
Ans. The segments covered in Global Liquid crystal polymer (LCP) Market report are Type, and Application.

2] Which region is held the highest share in the Global Liquid crystal polymer (LCP) Market?
Ans. Asia Pacific held the highest share in the Global Liquid crystal polymer (LCP) Market.

3] Who are the top key players in the Global Liquid crystal polymer (LCP) Market?
Ans. Solvay SA, Polyplastics Co. Ltd., Celanese Corporation, Rogers Corporation, Asia International Enterprise (HK) Limited, RTP Company, Kuraray Co. Ltd, Sumitomo Chemical Company Shanghai PRET Composites Co., Ltd, PolyOne Corporation

4] What is the market size of the Global Liquid crystal polymer (LCP) market by 2029?
Ans. The market volume of the Global Liquid crystal polymer (LCP) market is 72353.72 Metric Ton by 2029.

5] What was the market size of the Global Liquid crystal polymer (LCP) market in 2022?
Ans. The market volume of the Global Liquid crystal polymer (LCP) market was worth 54761.35 Metric Ton in 2022.