Liquid Crystal Polymer (LCP) Market Size

Liquid Crystal Polymer Market Size

Liquid Crystal Polymer Market size was over USD 375 million in 2016 and consumption is likely to exceed 65 kilo tons by 2024. The increasing number of innovations and R&D programs across the polymer space have had a huge impact on the market share.

Shift of consumer preference towards miniaturization of electronic components which include connectors and surface mount device should drive the global liquid crystal polymer market share. LCP has wide application scope in electronic components which includes personal computers and mobiles characterized by its lightweight, durability, high performance and efficiency influencing product demand. 

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Electrical & electronics sector in Asia Pacific, led by China, Japan, India and South Korea, witnessed steady growth and surpassed USD 2.5 trillion in 2015 owing to strong technological innovations and new product development initiations undertaken by industry players. Excellent flow properties improving moldability along with outstanding mechanical properties at high temperatures, inherent flame retardancy, excellent chemical resistance and good weatherability should propel the liquid crystal polymer market.

Technological innovations along with widening application scope automotive, packaging and electronics industries should drive liquid crystal polymer market growth. This growth in product demand can be attributed to environment-friendliness, low maintenance cost, enhanced performance characteristics such as low coefficient of thermal expansion, minimal moisture absorption, high strength of modulus, abrasion resistance and flexibility. 
 

LCP’s are widely used as a substitute to polyamide films in packaging sector owing to its exceptional chemical & mechanical properties. LCP’s are also favored over other materials including EVOH films because their low maintenance cost and lower viscosity over a longer production run.

Benzoic acid and p-hydroxy naphthoic acid are key raw materials used in LCP synthesis process. LCP films & laminates are produced from thermoplastic LCP resins in the form of granules and pellets. Global market supply constraints due to limited bi-phenol manufacturers can create a supply demand gap and affect liquid crystal polymer market value.