Demand of Liquid Crystal Polymers Market in Global Industry : Analysis, Insights, Research and Forecast 2018-2025
Liquid-crystal polymers (LCPs) are a class of aromatic polymers. They are unreactive and inert, resistant to fire, and perform well under harsh environments. LCPs offer high resistance to heat, electricity, and tolerance to chemical-resistance.
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These properties allow these components to perform well even in harsh environment making them capable for tolerating extreme heat conditions as well as resistant towards strong chemicals.
Demand for high-quality and durable electrical and electronic products in emerging economies is fueling the liquid-crystal polymers market. LCP is extensively used in the automotive industry due to its high strength, low weight, and abrasion resistance properties. LCPs can replace materials such as ceramics, metals, composites, and other plastics owing resistance to virtually all chemicals, weathering, radiation, and fire. Increase in demand for engineering resins to manufacture ultra-thin electrical components is expected to remain a key driver for the liquid-crystal polymers market. Rise in demand for high-performance and lightweight materials from the automobile industry to manufacture fuel-efficient vehicles and reduce carbon emissions is expected to positively impact on the market. These acts as the major drivers for the market. However, relatively high cost of LCPs is a major restraint of the market.
Based on the type, the global liquid crystal polymers market has been bifurcated into thermotropic and lyotropic. Thermotropic liquid crystal polymer is used in various applications; therefore, it holds the largest share of the LCP market. Currently, most of the popular LCP brands are made from thermotropic liquid crystal polymer and is anticipated to have a large share with respect to volume in the forecasted period.
Based on brands, the global liquid crystal polymers market can be divided into Laperos LCP Vectra/Zenite, Xydar, Sumikasuper, and others. Increase in demand for thinner electronic components and preference for vibration absorbing property among end users boosts the demand for the usage of Laperos LCP. Laperos LCP holds the largest share of the market.
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In terms of end-use industry, the liquid crystal polymers market can be divided into electrical & electronics, automotive, aerospace, healthcare, and industrial machinery. Rise in demand for developing electrical and electronics components such as semiconductors has increased the popularity of liquid crystal polymers in the electrical and electronics industry. Increasing usage of LCP in the automotive industry is attributed to adoption of lightweight and high performance materials. Furthermore, growth possibility in automotive and medical might is anticipated to increase during the forecasted period.
Based on geography, the global liquid crystal polymers market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific dominates the market 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 and, rise in the number of new manufacturing capabilities which is anticipated to witness Asia Pacific emerge into a prime driver of growth for the global liquid crystal polymers market.
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North America and Europe are projected to witness a significant growth during the forecast period. However, adoption of lightweight, high-performance materials in the automotive industry in North America and Europe is expected to drive the liquid crystal polymers market.
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