Liquid Crystal Polymer Market to experience an impressive growth of 7.2% during 2020-2025
January 27, 2020
Liquid Crystal Polymer (LCP) Market is likely to witness an impressive CAGR of 7.2% during the forecast period. The global market is propelled by the growing demand from various end-use industries, such as consumer goods, electrical & electronics, automotive, lighting, and medical, among others.
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Liquid Crystal Polymer Market Segment Insights:
By Application Type:
Based on the application type, the market is segmented as electrical & electronics, consumer goods, automotive, lighting, medical, and others. The electrical & electronics segment is projected to be the largest segment in the coming five years. On the other hand, the medical application segment is estimated to register the highest growth during the forecast period. The increasing demand for LCPs from various end-use industries, such as electrical & electronics, consumer goods, automotive, lighting, medical, and others are anticipated to drive the market. Further, the premium properties of LCPs and growing resin replacements for ultra-thin components are bolstering the market for LCPs.
By Region:
In terms of regions, the Asia-Pacific region is estimated to witness the highest growth in the liquid crystal polymer market in the coming five years. The growing end-user industry is the prime driver of the market in the region. China dominated the regional market and accounted for 70.10% share of the total Asia-Pacific’s market volume in 2018. China is estimated to maintain its dominance during the forecast period, owing to the rapid development of the electrical & electronics industry in the country. Other Asia-Pacific countries, such as Japan, South Korea, India, and Taiwan are also expected to depict a steady growth in the coming five years. On the other side, North America and Europe are expected to observe a moderate growth during the forecast period, owing to the shifting of end-user manufacturing base, such as consumer goods and electrical & electronics, in the Asia-Pacific region. However, shift in trend towards the acceptance of lightweight, high performance materials from the automotive sector, majorly in North America and Europe is expected to fuel the liquid crystal polymer market in the mentioned regions.
Key Players:
Some of the major players in the liquid crystal polymer market are Celanese Corporation, Polyplastics Co., Ltd., Polyone Corporation, Sumitomo Chemical Company Limited, Solvay SA, Shanghai Pret Composites Co., Ltd., Toray International, Inc., and Ueno Fine Chemicals Industry Limited.
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- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
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- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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