The “Liquid Crystal Polymer Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Liquid Crystal Polymer Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global liquid crystal polymer market size was US$ 1.25 billion in 2021. The global liquid crystal polymer market size is forecast to reach US$ 2.49 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.0% during the forecast period from 2022 to 2030.
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A class of aromatic polymers is known as liquid-crystal polymers. They are inert and nonreactive, resistant to fire, and perform well in harsh environments. In addition to their high resistance to heat, electricity, and chemicals, LCPs are also resistant to abrasion. The properties that these components possess enable them to perform well even in harsh environments, allowing them to withstand extreme heat conditions as well as chemical resistance. Due to their resistance to virtually all chemicals, weathering, radiation, and fire, LCPs can replace materials such as ceramics, metals, composites, and other plastics.
Factors Influencing Market Growth
The increasing demand for liquid crystal polymer (LPC) from various end-user industries, including electronics and electrical, automotive, and medical, is forecast to drive the global market’s growth.
A rise in demand for high-performance and lightweight materials from the automobile industry to reduce carbon emissions and build fuel-efficient vehicles is forecast to fuel the global market growth.
Due to LCPs’ relatively high costs, the global market may slow down.
The rapid growth of technologies like 3D printing and 5G is driving the need for liquid crystal polymers to serve as novel materials with an optimistic outlook for mobile phone antennas. Therefore, these factors are opening up various opportunities for industry development in the future.
Impact Analysis of COVID-19
COVID-19 has negatively affected the liquid crystal polymer market. As a result of the pandemic spread, the manufacturing and industrial segments were operating under unfamiliar conditions. Moreover, the enactment of lockdowns worldwide has severely impacted the liquid crystal polymer industry. Various end-user industries, such as automotive, electrical & electronics, and others, have almost ceased producing liquid crystals. The disruptions in the global supply chain have also had a significant impact on the production output. It has led to an increase in the price of LCP.
Regional Insights
In 2021, Asia Pacific had the largest share of the global liquid crystal polymer industry and is forecast to remain dominant during the forecast period. An important factor contributing to the market’s considerable size is the growing demand from end-user industries throughout the developing world, such as India, China, and Japan. China is one of the world’s largest producers of electronic goods, making it a strong competitor for industry giants. Moreover, the increasing disposable incomes will boost the demand for electronic products, further boosting the market. Hence, the increase in domestic demand and the availability of affordable manufacturing facilities will drive the market.
North America is forecast to grow steadily over the forecast period. Increasing initiatives for new products and technologies are likely to drive market growth. The region is one of the early adopters of technologies like 5G and 3D printing. Innovative technologies of the next generation are likely to provide tremendous growth opportunities for the market. Moreover, the development of the automobile industry in the region combined with the growing demand for lightweight, high-performance materials is forecast to drive the demand for LCP in the region.
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Leading Competitors
The leading prominent companies profiled in the global liquid crystal polymer market are:
Asia International Enterprise (HK) Limited
Celanese Corporation
Kuraray Co. Limited
PolyOne Corporation
Polyplastics Co. Limited
Rogers Corporation
RTP Company
Shanghai Pret Composites Co., Limited
Solvay SA
Sumitomo Chemicals Co. Limited
Toray Industries, Incorporated
Ueno Fine Chemicals Industry Limited
Other Prominent Players
Scope of the Report
The global liquid crystal polymer market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
Thermotropic
Lyotropic
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Segmentation based on Application
Electrical and Electronics
Industrial Machinery
Consumer goods
Lighting
Medical
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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