Global Liquid Crystal Polymer (LCP) Market Overview

Global market for liquid crystal polymers (LCP) is expected to grow at a CAGR of about 5% during the forecast period, on the back of superior properties of LCPs and increasing demand for engineering resins for manufacturing ultra-thin electrical components. Strong demand for thinner and smaller electrical components that can withstand high wear and temperatures is among the other key factors expected to fuel the market in coming years. LCP is a super engineering plastic, with a combination of high modulus, strength and impact properties, resistance to a broad range of aggressive chemicals, low and tailorable coefficients of thermal expansion (CTE), thin-wall flowability, outstanding dimensional stability and unique processability.

Global Liquid Crystal Polymer (LCP) Market Segmentation

Global Liquid Crystal Polymer Market has been categorized based on type, end-user industry and regions. Based on type, the market has been segmented into thermotropic and lyotropic, while based on end-user industry, the market has been categorized into electrical & electronics, industrial machinery, automotive, consumer goods and others. Among these end-user industries, the electrical & electronics segment is expected to grow in global LCP market during forecast period, owing to increasing demand for the miniaturization of electrical and electronic components, wherein manufacturers are streamlining devices to have more features into smaller packages. Regular use of electronics, such as cell phones, tablet PCs or laptops is growing rapidly across the globe. Simultaneously, these devices are becoming inexpensive and more powerful from generation to generation, while declining in weight and size.

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United States aircraft giant Boeing and Chinese aviation manufacturer Commercial Aircraft Corporation of China Ltd (COMAC) are planning to build a Boeing 737 production system, which is expected to start its operations soon. This factor is likely to propel the aerospace manufacturing industry, which, in turn, is anticipated to boost the demand for liquid crystalline polymers for aerospace and aviation applications.

Global Liquid Crystal Polymer (LCP) Regional Segmentation and Trends

Europe is anticipated to register fastest growth rate in global liquid crystal polymer market during the forecast period. Asia-Pacific (APAC) dominated the market in 2018 and is expected to continue its market dominance in coming years as well. Globally, China is the largest electronics production base and gives stiff competition to the existing upstream producers, such as Singapore, South Korea and Taiwan. The electronics manufacturing industry is continuously moving to China, due to increasing demand and low-cost of electronic products. With growing disposable income of rising middle class population, demand for electronics is expected to grow in the future, thereby driving the global liquid crystalline polymer market.

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Competitive Landscape

Global liquid crystalline polymer market is consolidated in nature, with the top five LCP manufacturing companies accounting for more than 85% of the global production. Some of the leading companies in global LCP market are Celanese Corporation, Polyplastics Co., Ltd., Sumitomo Chemical Company Limited, Shenzhen Wote Advanced Materials Co. Ltd., Solvay SA, Toray Industries Inc., Chang Chun Plastics Co. Ltd, Shanghai Pret Composites Co. Ltd. and Ueno Fine Chemicals Industry Ltd.

Some of the leading players in global liquid crystal polymer (LCP) market are Celanese Corporation, Polyplastics Co., Ltd., Sumitomo Chemical Company Limited, Shenzhen Wote Advanced Materials Co. Ltd., Solvay SA, Toray Industries Inc., Chang Chun Plastics Co. Ltd, Shanghai Pret Composites Co. Ltd., Ueno Fine Chemicals Industry Ltd., etc.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in global liquid crystal polymer (LCP) market.

TechSci Research calculated global Liquid Crystal Polymer Market size using a top-down approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

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