The Global Liquid Crystal Polymers Market has been evaluated as rapidly growing market and expected that the market will reach high growth figures. The market is driven by various industries such as consumer goods, electronics and electrical and among many others. Liquid crystal can be divided into main categories according to principal means of breaking down the complete molecular order of the parent solid. The two kinds of categories are lyotropic and thermotropic.
Liquid crystal polymers has an outstanding properties namely, high temperatures, excellent chemical resistance, inherent flame retardancy and good weatherability. Due to their exceptional properties, LCPs can be injection molded into thin-wall components and have outstanding strength at extreme temperatures of up to 300°C. In-addition, Liquid crystal polymers products have proven successful in a variety of applications, including sockets, switches, connectors, dental tools, surgical instruments and many others. Electrical & electronic components sector is the largest end-user for LCP, followed by automotive and industrial sectors, among others. In-addition, during recent years, the utilization of TLCs in engineering and aerospace research has become increasingly common. However, areas of application are also in heat transfer and flow visualization studies, although the materials can also be used in virtually any work involving the indication of temperature fields and thermal mapping. Following the increased publicity given to TLC products in the scientific literature by the engineering/ aerospace research community.
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Global Liquid Crystal Polymers Market Players:
The major participants of this market are:
- Polyplastics Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Celanese Corporation
- Solvay S.A.
- Ueno Fine Chemicals Industry Ltd.
- Toray International, Inc.
- SAMSUNG FINE CHEMICALS CO. LTD.
- Shanghai PRET Composites Co., Ltd
- Ueno fine chemical industry Ltd.
- Polyone Corporation.
The Global Liquid Crystal Polymers Market is majorly segmented on the basis of types, and application. Based on the type the market is segmented into Thermotropic and Lyotropic. Further on the basis of application the market is classified into Electronic & Electrical, Automotive, Consumer Goods, Surgical Device and Others.
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Globally, in the developed regions such as United States and Europe, the fastest growth is expected to come from automotive sector, as vehicle manufacturers are utilizing lightweight materials for automobile components to increase fuel efficiency and reduce carbon emissions. Global Liquid Crystal Polymers (LCPs) market standing at USD 640.2 million in 2016 and projected to touch USD 880.3 million by 2022 growing by a 2016-2022 CAGR of 5.2%. Asia-Pacific leads the global market for LCPs, forecast to be USD 520.3 million (81% share) in 2016, which is also likely to record the fastest CAGR of 5.3% over 2016-2022 and reach a projected USD 720.1 million by 2022. China is the leading regional market and accounted for 48.02% of total market volume in 2016. China is expected to dominate the market over the forecast period due to rapid utilization of electronics & electrical industry in the nation. Other Asian countries such as South Korea, India, and Japan, are also expected to witness steady growth over the forecast period.
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