Global Liquid Crystalline Polymers (LCP) Market: Overview
An exclusive group of linear polymers line up themselves parallel to one another to form a liquid crystal phase known as liquid crystalline polymers (LCPs). Small and intricate molds can be filled completely using liquid crystalline polymers as they have high flow and very low viscosity. This property inhabited by the liquid crystalline polymers makes it the preferred choice for the making of the intricate components and parts that have tremendously short cycle times. The liquid crystalline polymers are replacing the high-performance thermoplastics and other engineering resins. The reason for the replacement is the fact that liquid crystalline polymers produce ultrathin components that have 0.1 mm wall thickness using very fewer cycle times. The liquid crystalline polymers consist of properties such as high resistance to temperature, high flow, and high stiffness.
Global Liquid Crystalline Polymers (LCP) Market: Segmentation
The liquid crystalline polymers market is segmented into its applications and regions. On the basis of application, the liquid crystalline market is categorized into automotive, electronics, aerospace, medical industries, and food packaging. Based on the geographical regions, the global market is diversified into Asia Pacific, North America, Europe, and Rest of the World.
Global Liquid Crystalline Polymers (LCP) Market: Growth Factors
The major sector that is accounting for half of the global liquid crystalline market demand is electronics and electrical applications, and this trend is anticipated to be continued in the coming years. The components such as pin high-density connectors will drive the market growth in the coming years. Computers, high-density circuit boards for the purpose of weaponry and missiles, chip carriers, switches, NASA satellite electronic components, LEDs, coil bobbin sensors, and digital circuit board packaging with high speed are other major applications for the electronic sector. There is a huge demand for micro injection molding along with flow properties and resistance to high temperature, which is driving the LCP market for electrical applications. The industrial machinery applications were followed by electrical applications in terms market growth. Brittle ceramic material replacement and packaging materials such as chemical mass transfer tower are some of the industrial machinery applications; the liquid crystalline polymers are used mainly due to their chemical inertness and toughness. Industrial machinery application segment was followed by automotive application segment. The major automotive applications of LCP include lamp sockets, lighting reflectors, ignition components, bezels and transmission powertrain. Other sectors that are driving the liquid crystalline market are aerospace and manufacturing of medical components.
Global Liquid Crystalline Polymers (LCP) Market: Regional Analysis
The leading regional market China owns half of the total LCP market volume and is also the highest consumer. China will continue to dominate the liquid crystalline market owing to the rapid growth of the domestic electrical and electronics industry. Growth in industrialization is another factor that is contributing to the liquid crystalline market growth in machinery. India and Indonesia, other Asian countries, are also expecting a significant growth in the liquid crystalline market. The regions such as North America and Europe are further contributing towards the liquid crystalline market growth.
Global Liquid Crystalline Polymers (LCP) Market: Competitive Players
The major market players in the liquid crystalline polymers market include Celanese Corporation, Solvay S.A., Ueno Fine Chemicals Industry Ltd., DuPont, Shanghai PRET Composites, Co. Ltd., Polyplastics Co., Ltd., Sumitomo Chemical, Toray International, Inc., and Samsung Fine Chemicals.
Global Liquid Crystalline Polymers (LCP) Market: Regional Segment Analysis
What Report Provides