Liquid Crystal Polymer (LCP) Market size worth $ 2.1 Billion, Globally, by 2028 at 8.54% CAGR: Verified Market Research®

Jersey City, New JerseyAnd January 26 2022 /PRNewswire/ – Confirmed Market Research recently published a report, “Liquid Crystal Polymer (LCP) Market“Type (Thermotropic, Lyotropic), by application (electrical, electronics, automotive, aerospace), and by geography. According to verified market research, the global Liquid Crystal Polymer (LCP) market size has been evaluated in 1.09 billion US dollars In 2020 is expected to reach 2.1 billion USD By 2028, at a compound annual growth rate of 8.54% from 2021 to 2028.

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Global Liquid Crystal Polymer (LCP) Market Overview

The increasing application of liquid crystal polymer films in flexible solar cells due to their exceptional heat resistance and low water absorption, also affecting the market. Moreover, the rapidly growing technologies such as 5G communication and 3D printing in the medical sector have higher growth opportunities for the Liquid Crystal Polymer (LCP) market.

In the emerging 5G communications market, liquid crystal polymers are widely used as a new, optimistic-looking material for mobile phones and antennas. The high production cost of liquid crystal polymers is one of the major limitations that may affect the growth of this market. The costs of liquid crystal polymers are higher than that of traditional high-performance polymers. It makes liquid crystal polymers less competitive with their less expensive competitors such as PPA, ABS, nylon, and others. General Nylon and ABS prices are about one-fifth of that of liquid crystal polymers, giving a cost advantage in electrical and electronic devices. Applications requiring high performance polymers while filling walls up to 0.25mm maximum.

The manufacture of liquid crystal polymers requires higher investments, as the process is complex compared to other group of plastics such as polyethylene, polypropylene and others. Products with high temperature function and a high level of technical expertise are required to produce liquid crystal polymers. Therefore, the production, manufacturing process and liquid crystal polymer products are more expensive. The high costs of liquid crystal polymers limit their use in the most widely used application areas and that restrict overall market expansion. Thermoplastics are a type of polymer that has the property of becoming liquid when heated and returning to a solid state when cooled. The cycle of thawing and freezing can be repeated, and this will enable the plastic to be reshaped by heating it.

Liquid crystal polymers are thermoplastics that are used in extreme temperature applications in various end-use industries, such as transportation, electrical and electronics, medical industries, and others. They are used in many applications, such as consumer goods, machine parts, medical equipment, packaging and warehousing materials. Due to their properties, thermoplastic polymers are gaining importance as an alternative to traditional materials such as steel, aluminum and wood. Compared to other traditional materials, thermoplastics have higher chemical and impact resistance, higher strength-to-weight ratios, and greater flexibility in designs. Therefore, the thermoplastics market will grow rapidly during the forecast period.

KEY DEVELOPMENTS

  • September 2021: Polyplastics Co. decided to Ltd Construction of a new polymerization facility at Polyplastics Taiwan Co., Ltd. Ltd with a production capacity of 5000 tons per year.
  • August 2021: Sumitomo Chemical planned to raise the price of liquid crystal polymer (LCP) as a result of rising raw material and logistics costs.
  • January 2021: Celanese Corporation announces plans to develop a multi-stage LCP polymerization plant in China To enable a significant increase in high-value Vectra and Zenith LCP product lines.

The main players

The major players in the market are Polyplastics Co. Ltd, Celanese Corporation, Sumitomo Chemical Company, Shenzhen Wote Advanced Materials Co., Ltd. Ltd and Kingfa Sci. & Technique. Co., Ltd.

The verified market research has segmented the global Liquid Crystal Polymer (LCP) market on the basis of type, application, and geography.

  • Liquid Crystal Polymer (LCP) Market, by Type
  • Liquid Crystal Polymer (LCP) Market, by Application
    • Electricity and electronics
    • the cars
    • The space
    • Aharon
  • Liquid Crystal Polymer (LCP) Market By Geography
    • North America
    • Europe
      • Germany
      • France
      • United kingdom
      • rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • rest of Asia Pacific
    • Row
      • Middle east & Africa
      • Latin america

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