Liquid Crystal Polymer Market To Drive Furiously And Reach USD 1,339.1 Million in 2021
Global liquid crystal polymer market is greatly strengthened with leading 4 players adding up for more than 3/4th of the entire market. Some major players active in the global liquid crystal polymer market comprise Celanese Corporation, Polyplastics Co., Ltd, Sumitomo Chemical and Solvay S.A., Ueno Fine Chemicals Industry Ltd, Shanghai PRET Composites, Co. Ltd., Samsung Fine Chemicals, and Toray International, Inc. among others. These players are set to bolster the development of liquid crystal polymer market.
According to analysts at Zion Market Research, global liquid crystal polymer market was capitalized at USD 951.4 Million in 2016. The liquid crystal polymer market is likely to cross USD 1,339.1 Million by 2022 and is likely to develop at a CAGR of 6.0% from 2016 to 2022.
Elevated Requirement From The End User Sectors To Tower The Growth Of Liquid Crystal Polymer Market
Liquid crystal polymers are recognized for their excellent mechanical properties, high-temperature resistance, low water absorption, and good solvent resistance in comparison to other heat resistant polymers. These properties are the major reasons for the fostering of liquid crystal polymer market, as per analyst at Zion Market Research. LCPs have low flammability, good electrical insulation properties, and a low thermal expansion coefficient. It shows extremely high flow and low viscosity to make LCPs the preferred option for making ultrathin and miniature parts down to 0.1mm thickness with very short life span. This towers the development of liquid crystal polymer market. LCPs are employed in automotive, electrical, medical, chemical processing, and household applications, making the path for the development of liquid crystal polymer market. They are also employed for microwave and oven cookery. The global liquid crystal polymer market is boosted by the elevated requirement from the end user sectors such as consumer goods, electrical & electronics, lighting, automotive, and medical among others. On the other hand, the high price of LCP might hinder the growth of liquid crystal polymer market in the forecast period.
Nevertheless, the rising adoption of LCP in user goods is also claimed to set the development of liquid crystal polymer market. For example, in December 2017, Apple declared the adoption of speedy flexible LCP circuit board technology all over major product range.
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Asia Pacific To Continue Its Dominance In The Liquid Crystal Polymer Market In The Years To Come
Area-wise, Asia Pacific was the biggest area liquid crystal polymers market in 2016. It added up for over 55% share of the entire volume of liquid crystal polymers market. Development in Asia Pacific is spearheaded by the increasing requirement from end-use sectors such as consumer goods, electrical & electronics, medical, and automotive sectors. The Rest of the World will show a moderate growth rate in the liquid crystal polymer market.
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