Liquid Crystal Polymer (LCP) Market Analysis | 2023-2028

“The Liquid Crystal Polymer (LCP) Market was estimated at US$ 1.24 billion in 2022 and is expected to grow at a CAGR of 8.2% during 2022-2028 to reach US$ 2 billion by 2028.”

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Market Dynamics

Introduction

Liquid Crystal Polymer (LCP) is a high-performance thermoplastic with a unique molecular structure that combines liquid-like and crystalline-like properties. LCPs are known for their exceptional heat resistance, low moisture absorption, high strength, and excellent electrical insulating properties. They are commonly used in industries like electronics, automotive, and aerospace for applications that require precision, dimensional stability, and resistance to extreme temperatures.

LCPs are particularly valued for their ability to maintain structural integrity and electrical properties even in challenging environments, making them a preferred choice for manufacturing connectors, insulators, and components in various high-tech applications.

Market Drivers

The global liquid crystal polymer (LCP) market is propelled by the growing demand from various end-use industries, such as consumer goods, electrical and electronics, automotive, lighting, and medical, among others.

Segments Analysis

By Application Type

“The electrical and electronics segment dominates the market during the forecast period.”

The liquid crystal polymer market is segmented into electrical and electronics, consumer goods, automotive, lighting, medical, and others. The electrical and electronics segment is projected to be the largest segment in the coming five years.

On the other hand, the medical application segment is estimated to register the highest growth during the forecast period. The increasing demand for LCPs from various end-use industries, such as electrical and electronics, consumer goods, automotive, lighting, medical, and others is anticipated to drive the market. Further, the premium properties of LCPs and growing resin replacements for ultra-thin components are bolstering the market for LCPs.

Regional Analysis

“The Asia-Pacific region is estimated to witness the highest growth in the liquid crystal polymer market in the coming five years.”

The growing end-user industry is the prime driver of the market in the region. China dominated the regional market and accounted for a 70.10% share of the total Asia-Pacific market volume in 2018. China is estimated to maintain its dominance during the forecast period, owing to the rapid development of the electrical and electronics industry in the country. Other Asia-Pacific countries, such as Japan, South Korea, India, and Taiwan are also expected to show steady growth in the coming five years.

On the other side, North America and Europe are expected to observe moderate growth during the forecast period, owing to the shifting of end-user manufacturing bases, such as consumer goods and electrical and electronics, in the Asia-Pacific region. However, a shift in trend towards the acceptance of lightweight, high-performance materials from the automotive sector, majorly in North America and Europe is expected to fuel the liquid crystal polymer market in the mentioned regions.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  

The following are the key players in the liquid crystal polymer market (arranged alphabetically).

• Celanese Corporation
• Polyone Corporation
• Polyplastics Co., Ltd.
• Shanghai Pret Composites Co., Ltd.
• Solvay SA
• Sumitomo Chemical Company Limited
• Toray International, Inc.
• Ueno Fine Chemicals Industry Limited

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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