Growing electrical & electronics industry to propel demand for liquid crystal polymer

Global Liquid Crystal Polymer Market is anticipated to grow at a CAGR of around 6% during the forecast period (2021-2027). Liquid crystal polymer (LCP) exhibits a highly ordered structure in both the melt and solid states. It has outstanding strength at extreme temperatures and resistance to almost all chemicals, weathering, radiation and burning. Additionally, it has high potential to replace materials such as ceramics, metals, composites and other plastics. At present, LCP is widely used in various industries like electrical, automotive, consumer goods, medical, and others.

Further, growth of the electrical & electronics industry, increasing engineering resin substitutes for ultra-thin components, increasing demand for lightweight, high-performance materials from the automotive industry, growth potential in consumer goods and medical application, is boosting the market of liquid crystal polymers.

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The COVID-19 pandemic severely impacted several markets across the globe and same can be witness in case of liquid crystal polymer, majorly attributable to the shutdown of manufacturing facilities in compliance with government regulations, to reduce the spread of disease. This led to reduction in demand for liquid crystal polymer in industries thereby producers have to incure heavy losses.

Based on application, the liquid crystal polymer market is divided into electrical & electronics, consumer goods, automotive, lighting, medical, and others. Among all, electrical & electronics category held lucrative market share due to wide usage of electrical & electronics goods in several sectors like construction and daily use goods which is helping electrical & electronics industry grow. For instance, according to India Brand Equity Foundation (IBEF), the demand for electronic products will rise to US$ 400 billion by 2025 from US$ 33 billion in FY20.

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For a better understanding of the market adoption of Liquid Crystal Polymer, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. Asia pacific held prominent market share of liquid crystal polymers market owing to rising end use industries like medical, automotive, consumer goods, and electronics in the region.

Global Liquid Crystal Polymer Market Segmentation

Market Insight, by Type

• Thermotropic
• Lyotropic

Market Insight, by Application

• Electrical & Electronics
• Consumer Goods
• Automotive
• Lighting
• Medical
• Others

Market Insight, by Region

• North America
• Europe
• Asia Pacific
• Rest of World

Top Company Profiles

• Polyplastics Co. Ltd.
• Solvay S.A.
• Celanese Corporation
• Toray Industries Inc.
• Kuraray Co. Ltd.
• Shanghai Pret Composites Co. Ltd.
• Ueno Fine Chemicals Industry Ltd.
• RTP Company
• Zeus Industrial Products, Inc.
• Chang Chun Plastics Co. Ltd.