Global Liquid Crystal Polymer Market is anticipated to grow at a CAGR of around 6% during the forecast period (2021-2027). Over the decades, a surge in demand of vehicles has been observed due to increasing industrialization across the globe and growing consumer purchasing power resulting in higher sales of automobiles. LCPs are utilized in making automotive ignition system components and sensors for car safety belts. Thus, with increase in sales of automobiles demand for LCP’s would rise. For instance, production of automobiles increased to 91.7 million in 2019 compared to 89.7 million in 2014. However, in 2020 production decreased to 77.6 million due to manufacturing shutdown in order to curtail the spread of COVID-19. Further, increasing digitalization has helped electronics industry grow at a rapid rate and rose the demand for computers and laptops. LCP is one of the most suitable materials for computer fans due to their large tensile strength and rigidity. Therefore, with growing demand of computers and laptop would escalate the demand for LCP.
Some of the major players operating in the market include 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. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Insights Presented in the Report
“Amongst application, electrical & electronics category held considerable market share in 2020.”
Based on application, market is categorized into electrical & electronics, consumer goods, automotive, lighting, medical, and others. Among all, electrical & electronics held prominent market share owing to rising digitalization, disposable income of population and affordable internet leading to high penetration of electrical & electronics product among consumers. LCP is extensively used for printed circuit boards, fiber optic strength members and conductor reinforcements as it provides outstanding moisture resistance and high dielectric strength couples with increased temperature resistance. Therefore, this combination with excellent stability along with low coefficient of linear thermal expansion makes LCP unique fiber for specialized electronic uses.
Further, LCP has medical applications as well. LCP monofilament fibers are used for the production of catheters which are fully compatible with MRI. Using both MRI and catheterization usually require sedation or general anesthesia. With the help of LCP more technical advancements have been made by combining them into a single procedure that reduces the sedation requirement and associated risk to the patient, as well as the overall cost.
“Asia Pacific represents considerable market share in the Global Liquid Crystal Polymer Market.”
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, France, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. APAC held significant share of liquid crystal polymer market. Asia Pacific, led by China, Japan, and India, witnessed steady growth owing to strong technological innovations and new product development initiations undertaken by industry players. LCP is one the new developed product and it has excellent flow properties improving moldability along with outstanding mechanical properties at high temperatures, inherent flame retardancy, excellent chemical resistance and good weatherability would propel the liquid crystal polymer market. Technological innovations along with widening application scope of automotive, packaging and electronics industries would drive liquid crystal polymer market growth in the region. This growth in product demand can be attributed to environment-friendliness, low maintenance cost, enhanced performance characteristics such as low coefficient of thermal expansion, minimal moisture absorption, high strength of modulus, abrasion resistance and flexibility.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
Customization Options:
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Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future of global liquid crystal polymer were the three major steps undertaken to create and analyze the adoption of liquid crystal polymer across various segments in North America, Europe, Asia Pacific, & Rest of the world. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the liquid crystal polymer sector. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the liquid crystal polymer through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the liquid crystal polymer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are as type and application. Further regional & country-level analyses were conducted to evaluate the overall adoption of liquid crystal polymer in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of liquid crystal polymer. Further, we conducted factor analysis using dependent and independent variables like increasing demand of automobiles, electronics, and industrialization. Historical trends and their year-on-year impact on the market size and share in the recent past were analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global liquid crystal polymer market, and market shares of the segments. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (USD) and the adoption rate of liquid crystal polymer across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the liquid crystal polymer market in terms of revenue generated. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global liquid crystal polymer market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application.
The main objective of the Liquid Crystal Polymer Market Study
The current & future market trends of liquid crystal polymer were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determine the overall attractiveness of the market at a global & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of liquid crystal polymer in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application.
- Defined analysis of the regulatory framework for the global liquid crystal polymer industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the liquid crystal polymer for the major regions & countries
- Major regions studied in the report include North America, Europe, Asia Pacific, and Rest of World
- Company profiles of the liquid crystal polymer market players and the growth strategies adopted by them to sustain in the fast-growing market
Deep dive regional & country level analysis of the industry
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