Almost everyone nowadays owns at least some type of consumer electronic device, such as a television set, radio receiver, video recorder, MP3 player, digital camera, DVD player, personal computer, camcorder, telephone, video game console, tablet, laptop, and mobile phone. In recent years, the growth in their sales has been quite phenomenal in emerging economies, owing to a consistent rise in the disposable income here. This has been leading to a robust expansion in the consumer electronics, electrical, and semiconductor sectors, where liquid crystal polymers (LCPs) are important raw materials.

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Thus, with the rising demand for gadgets and other appliances, the liquid crystal polymer market is projected to grow at a CAGR of 5.7% CAGR during 2018–2023, from $1,037.4 million in 2017 to $1,447.9 million by 2023. A type of aromatic polymers, LCPs are inert, meaning they do not react to most chemicals and other stuff, and they are also stable in high temperatures. Due to their beneficial mechanical and electrical properties, they are widely used in consumer electronics. Considering their increasing demand, several chemical firms, such as Kuraray Co. Ltd., Toray Industries Inc., Sumitomo Chemical Co. Ltd., and Celanese Corporation, are increasing their LCP output.


Lyotropic and thermotropic are the two broad types of LCPs, of which higher demand has been created for thermotropic variants till now. Produced when a polymer is heated beyond its melting transition point, such LCPs are used as a blend additive during the manufacturing of optical couplers, information storage materials, and display materials. Because they are important for the production of semiconductors, the demand for them is rising around the world, especially in China, which is the world’s largest producer of semiconductors.


LCPs are consumed in heavy amounts in the automotive, semiconductor and electronics, consumer goods, medical, heavy engineering, and power generation industries. Among these, as is clear, the semiconductor and electronics sector accounts for the highest usage of such materials, on account of their extreme-temperature stability, appreciable dielectric strength, low dielectric constant, excellent mechanical-property-retention characteristics, low power dissipation, and high dimensional stability. All these advantages have made LCPs the preferred packaging material and electronic substrate for consumer electronic devices’ high-frequency circuit boards.


Around the world, with the increase in the population and its rising purchasing power, the demand for consumer electronics is constantly growing. Even those people who could earlier not afford such products have no problem in spending on them. This is because a surging number of people are moving to the cities from rural areas, in search of employment. With consistent earnings, the standard of their living is rising, which is reflected in their procurement of consumer electronics. Apart from consumer goods, semiconductors are also an important component in automobiles, as a vehicle has numerous electronic systems.


Presently, the largest contributor to the liquid crystal polymer market is Asia-Pacific (APAC), due to the presence of a hugely productive semiconductor industry in Taiwan, China, and Japan. Not only domestic firms, but even European and North American semiconductor and electronics companies have their manufacturing plants in these countries, owing to the availability of cost-effective raw materials and labor. Other countries, especially Vietnam and India, are catching up on the production of such products, thereby leading to the rising demand for LCPs.


Hence, due to the growing consumer electronics and semiconductor sectors, the consumption of various kinds of liquid crystal polymers will also increase.