Liquid Crystal Polymers Market, Overview, Trends and COVID-19 Analysis, Forecast to 2023
Liquid Crystal Polymers Market
Market Research
Future (MRFR) postulates that the global liquid crystal polymers market is
estimated to garner USD 1.28 billion during the forecast period (2014-2022).
The market is slated to exhibit high revenue in the coming years owing to the
burgeoning demand for ultra-thin electrical components. Liquid crystal polymers
(LCP) can be referred to as a unique
group of polymers which are highly chemical resistant, inert, and unreactive. Physical
and chemical attributes such as high flow, high stiffness, and high-temperature resistance make it ideal for use in product
miniaturization in microinjection molding and electrical & electronics
industry.
Market Potential and Pitfalls
Liquid
crystal polymers are extensively used in
several applications focusing on electrical components including laptop,
smartphones, tablets, and desktop. LCP is
also largely consumed for industrial and automotive applications and in medical
and aerospace. Due to their augmenting consumption in several end-use
industries, the market is estimated to flourish throughout the appraisal period.
With the surging demand for lightweight and high-performance materials from the
automobile sector to reduce carbon emissions and manufacture fuel-efficient vehicles, the global market for
LCP is predicted to flourish. The market’s course is chiefly directed by the shifting trend towards miniaturization
electrical and electronic components like SMT
connectors, other microelectronic devices, and surface mounting devices.
The liquid crystal polymers market is also
driven by factors such as new product development initiated by several
industry players and strong technological innovations. Moreover, high demand
for thinner and smaller electrical components which can withstand wear and
extreme temperatures are contributing to the market growth.
On the contrary, low welding strength of liquid
crystal polymers is estimated to deter the market growth in the coming years.
Despite such hiccups, efforts are being made
in order to enhance the chemical and
physical attributes. Besides, the high
cost of LCP compared to natural graphite is expected to hinder the market
growth.
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Global
Liquid Crystal Polymers Market: Segmental Analysis
The global
liquid crystal polymers market has been
segmented on the basis of type and
application.
By mode of
type, the global liquid crystal polymers market has been segmented into lyotropic and thermotropic. Among these, the thermotropic
LCPs are estimated to dominate the segment as they offer high mechanical
properties which makes them ideal for manufacturing several components in
electronic devices.
By mode of
application, the global liquid crystal polymers market has been segmented into automotive, electronic
& electrical, surgical device, consumer goods, and others. Among these, the
electronic & electrical application is predicted to dominate the LCP market
owing to the expansion of the sector. Moreover, LCP is used in a wide range of end-user industries, mainly electronic
components like mobiles and computers. This
is likely to trigger the electronic & electrical application in the coming
years.
Regional
Insights
Geographically,
the global liquid crystal polymers market span across regions namely, Europe,
North America, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific region has emerged
as one of the major consumers of LCP and holds the largest share in the global
market. The growth in this region is credited
to the rapid growth in the electronic & electrical sector. With the surging
industry machinery application replacing ceramic materials coupled with mass
transfer packaging in the chemical sector, the LCP market is considered to
steal the limelight in the APAC region. In this region, China is considered a
major consumer, both in terms of region and the overall market. The market
growth is attributed to the growing
investment and rising number of manufacturing sites in this region.
Regions
such as Europe and North America are estimated to showcase a significant growth
rate owing to the adoption of high-performance and lightweight materials in the
automotive sector.
Industry
Updates
December
05, 2018: A team of scientists from Harvard’s Wyss Institute for Biologically
Inspired Engineering and John A. Paulson School of Engineering and Applied
Sciences have harnessed magnetic fields in order to control molecular structure
of LCEs and form microscopic 3D polymer shapes which can be programmed to move
in any direction in response to multiple stimuli.
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