The changing dynamics in Liquid Crystal Polymer Market with covid-19 impact assessment
June 03, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Liquid Crystal Polymer Market.
It was estimated prior to this unanticipated outbreak that the Liquid Crystal Polymer Market was expected to grow at a CAGR of 7.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Liquid Crystal Polymer (LCP) is mainly an aromatic polymer type. These polymers are known for a high resistance towards the fire and for their inert property.
Liquid Crystal Polymer (LCP) has its application at a number of places such as electrical & electronics, consumer goods, automotive, lighting, medical, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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 high 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.
In terms of regions, the Asia-Pacific region is estimated to witness high 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Liquid Crystal Polymer Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- 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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