The commercial production of liquid crystal polymer (LCP) started in the mid-1980s, and they could not be injection molded at that time. Today, liquid crystal polymers can be melt processed on any conventional equipment into heavy as well as thin wall components at very fast speeds. Liquid crystal polymers are materials that have gained attention as a packaging material and potential high performance microwave substrate. They are available in market in liquid as well as solid forms.
As frequencies tend to upsurge for the next generation of wireless applications, the integration techniques as well as materials in radio frequency systems are facing more challenging performance constraints. In addition, consumers are demanding repeatedly better performance with minimal surge in price. The new material technologies must be identified that can concurrently tackle these performance challenges, environmental variation, frequency, and cost.
Liquid crystal polymers are unique group of linear polymers, which are inert, highly chemical resistant and unreactive. During the melting and injection molding, liquid crystal polymers show low viscosity and high flow to fill the intricate molds completely, making liquid crystal polymers a good choice for manufacturing of ultrathin and miniature parts with less than 0.1 mm thickness and short cycle times.
Liquid crystal polymers possess various physical and chemical properties such as high stiffness, high flow, and high temperature resistance, which makes it suitable for their use in product miniaturization in the electrical & electronics industry and microinjection molding. Liquid crystal polymers are utilized in various applications focusing on electronic components that include smartphones, laptop, desktop, and tablets.
Further, liquid crystal polymers are consumed for automotive and industrial applications as well as in aerospace and medical. Owing to their increasing consumption in various end-use industries, the liquid crystal polymers market is expected to increase at a high CAGR over the forecast period (2017–2027).
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Global Liquid Crystal Polymers Market: Dynamics
Rising demand for high performance and lightweight materials from the automobile industry in order to manufacture fuel efficient vehicles and reduce carbon emissions is expected to have a positive impact on the growth of liquid crystal polymers market.
Moreover, shifting trend toward the miniaturization of electronic as well as electrical components such as SMT connectors with high density of pin, surface mounting devices and other microelectronic devices is also expected to fuel the demand of liquid crystal polymers in near future.
The aforementioned factors are expected to drive the global liquid crystal polymers market and their demand is expected to increase at a significant CAGR through 2026. The key challenges faced by market players in the global liquid crystal polymers market include their low welding strength, etc., nonetheless, efforts are being made to enhance their physical and chemical properties to overcome such challenges.
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Global Liquid Crystal Polymers Market: Region-wise Outlook
Asia pacific region is estimated to remain among the key consumers of liquid crystal polymers across the globe by 2017 end, owing to the expansion of electrical & electronics industry in the region. Within the Asia Pacific region, China accounts for a significant share in the regional liquid crystal polymers market.
Rising investments and increase in number of manufacturing sites are expected to drive the market growth for liquid crystal polymers in the APAC region. Asia-pacific is also expected to witness a high growth over the forecast period. North America and Europe are anticipated to register steady growth in the global liquid crystal polymers market between 2017 and 2026.
Global Liquid Crystal Polymers Market: Segmentation
Liquid crystal polymers market can be segmented is based on end-use industry, which segments as the following:
- Electrical & Electronics
- Others (medical, cookware, etc.)
Global Liquid Crystal Polymers Market: Market Participants
Examples of some of the market participants in the liquid crystal polymers market, identified across the value chain, include Polyplastics Co., Ltd., Sumitomo Chemical Co., Ltd., Celanese Corporation, Solvay S.A., Ueno Fine Chemicals Industry Ltd., Toray International, Inc., SAMSUNG FINE CHEMICALS CO. LTD., and Shanghai PRET Composites Co., Ltd. among others.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.