Liquid Crystal Polymer Market / LCP Market – Global Industry Analysis, Market Size Estimation and Growth Forecast By Types (Lyotropic Liquid Crystal Polymers, Thermotropic Liquid Crystal Polymers), By Forms (Compounds, Fibers, Sheets and others), By Brands (Laperos LCP, Vectra/Zenite, Xydar, Sumikasuper and others), By Application (Additives, Semiconductor & Electronics Components, Composites and others) & By Regions (North America, Asia Pacific, Europe, Middle East & Africa, Latin America), 2017 – 2025

Liquid Crystal Polymer Market / LCP Market - Introduction

The global liquid crystal polymer market is expected to grow significantly during the forecast period 2017 to 2025. Liquid crystal polymer market is segmented in terms of types, forms, brands, application, and geography. Liquid crystals polymers are crystalline aromatic polyesters that are developed on the basis of structural units such as p-hydroxybenzoic acid and related monomers. Rising environment regulations for automotive emission has further boosted the demand for liquid crystal polymers. The growth of liquid crystal polymers market is also driven by cryogenics applications in aerospace and defense sector. Rising demand for carbon reinforced liquid crystal polymers in the industrial sector is driving the growth of the market. Rising demand for LCPs for manufacturing components of electronics devices has acted as the push factor for the growth of the liquid crystal polymer market.

Report Overview
Aspect Details
Base Year of Estimation 2016
Value Estimation Year 2017
Forecast Period 2017 - 2025
Market Segmentations By types, forms, brands, application and geography
Regional Scope North America, Asia-Pacific, Europe, Middle East & Africa (MEA) and Latin America
Report Coverage Technology Analysis, Market Dynamics, Market Trends, Segmentation Overview and Competitive Landscape of the market

 

Technology Analysis

Liquid crystal polymers are derived from liquid crystal and consist of repeated monomer units. These monomers are linked to develop extended chain-like molecules. Most of the liquid crystal polymers consist of three parts including mesogen core, hydrophobic flexible linker and a hydrophilic moiety at one side. As compared to most thermoplastics, ring substitutes are more common for liquid crystal polymers. Liquid crystal polymers are subdivided into thermotropic LCP and lyotropic LCP. Mainly rigid rod polymers and side-chain polymers are used for formation of thermotropic LCPs. On the other hand, in the case of lyotropic LCP, transition temperature is reduced for rigid rod polymer by adding solvent.

 

Market Dynamics

Carbon fiber reinforced liquid crystal polymers are high in strength and stiffness as compared to normal liquid crystal polymer compounds. In medical devices development, carbon fiber reinforced LCPs are preferred by many vendors and this, in turn, driving the growth of the liquid crystal polymer market.

Demand for laperos LCP brands has significantly increased due to rise in demand for compact and thinner electronic component.

Laperos LCP are more suitable for the development of compact and thinner electronic components as compared to most of the other LCP brands. With the rise in demand for compact and thinner electronic component, demand for laperos LCP brands has significantly increased. Rising demand for laperos and other branded LCPs in semiconductor component engineering is estimated to drive the growth of the liquid crystal polymer market during the forecast period 2017 to 2025.

Vectra / zenite is halogen free liquid crystal polymers and this product offers eco-friendly thin walled applications with stable dimensions. The demand of these LCPs is growing automotive component manufacturing. Rising demand for lightweight materials to develop micro-level components in automobiles has positively impacted demand for LCPs. Stringent environmental regulations in U.S. and Europe for carbon emissions has also encouraged automotive manufacturers to use LCPs for developing automotive ignition systems components. Throughout the forecast period, these trends are expected to continue and drive the growth of the market simultaneously.

Growth prospect liquid crystal polymer market has been slightly dented by cheap quality counterfeits available in the Asian market and lack of demand owing to high price. In coming years, application of liquid crystal polymer in flexible circuit construction is expected to drive the growth of the market.

 

Market Trends

In recent years, demand for liquid crystal polymers has increased significantly caused by rising awareness regarding emission of automotive components, rising demand for rigid electronics components that can sustain extreme environment condition and rising applications of carbon fiber reinforced LCPs in the industrial sector. On the other hand, growing automotive and semiconductor & electronics sector in Asia Pacific has created an opportunity for liquid crystal polymer producers in that region. Product innovation and geographic expansion remain the prime strategy for leading liquid crystal polymer producer to achieve competitive advantage and open up new revenue streams.

In terms of market structure, LCPs market is consolidated in nature due to the presence of top 4 players capturing more than 50% of the revenue.

 

Segmentation Overview

In terms of types, the liquid crystal polymer market has been segmented as lyotropic liquid crystal polymers and thermotropic liquid crystal polymers. By forms, the market has been divided into compounds, fibers, sheets and others. In terms of brands, liquid crystal polymers market has been segmented into Laperos LCP, Vectra/Zenite, Xydar, Sumikasuper, and others. By application, the market has been segmented into additives, semiconductor & electronics components, composites, and others. As of 2016, semiconductor & electronics components garnered highest revenue share of the LCP market.

The geographical segmentation of the global LCPs market includes North America, Asia-Pacific, Europe, Middle East & Africa (MEA) and Latin America. In terms of both revenue and volume, Asia-Pacific is the largest as well as fastest growing market owing to the deep penetration of semiconductor & electronics industry, rising demand for high-performance polymers and close proximity to raw material sources for LCP producers.

Market Segmentation Overview
By Term Segments
By Types Lyotropic liquid crystal polymers and thermotropic liquid crystal polymers
By Forms Compounds, fibers, sheets and others
By Brands Laperos LCP, Vectra/Zenite, Xydar, Sumikasuper and others
By Application Additives, semiconductor & electronics components, composites and others
By Geography North America, Asia-Pacific, Europe, Middle East & Africa (MEA) and Latin America

 

Competitive Landscape

Leading players operating in the liquid crystal polymers market are Celanese Corporation (The U.S.), Chang Chun Plastics Co. Ltd (China), Polyplastics Co., Ltd (Japan), Sumitomo Chemical (Japan), E-Polymers Co Ltd (South Korea) and Solvay S.A. (Belgium). Most of these companies focus on investing financial and non-financial resources to develop new products and tap the market opportunity.

 

Conclusion

Considering the dynamic business scenario, rising applications of liquid crystal polymers in semiconductor component engineering, rising demand for high-performance polymers in the automotive sector, it is expected that the liquid crystal polymer market will grow at a healthy rate during the forecast period 2017 to 2025. Furthermore, rising demand carbon fiber reinforced liquid crystal polymers and eco-friendly thin walled applications are also likely to act as a major long-term push factor for the growth of the LCP market. All these factors are estimated to contribute the overall growth of the market in coming years.

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KEY QUESTIONS ANSWERED BY THE REPORT
What will be the nature of growth of the market till 2025?
What are the major push factors that will affect the growth of the market?
What are the growth possibilities in different segments of the market?
Who are the leading market players?
What are the key strategies implemented by the market leaders to sustain growth in the market?
What are the major restraining factors for the market?
What are the ways to generate new revenue streams?
In-depth analysis of the competitive landscape and competitor behavior in the market

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