ID: MRFR/SEM/5974-CR | February 2019 | Region: Global | 133 pages
The fast-growing device miniaturizing trend continues to boost the application potential of liquid crystal polymer (LCP) connectors. The global market for LCP connectors is set to witness a tremendous surge in the forthcoming years. It is projected that the market will post a strong CAGR of 8.1% during the forecast period (2018-2023). LCP connectors are a sought-after circuit board solution for electronic devices. It is used in product segments across consumer electronics, automotive, aerospace, telecom among others.
This MRFR perspective presents a holistic assessment for global LCP connectors market. The assessment includes a revenue forecast till 2023. Macro and microeconomics factors effecting the market has been discussed in the research document. The scope of the discussion also covers different types of LCP connectors. The document comprises ten chapters that highlight critical viewpoints. Market dynamic and market factor analysis are also available in the document. It also includes a country-level analysis across key regions of the world.
Sumitomo Chemical Company, Amphenol Corporation, Wurth Group (Wurth Elektronik), 3M Company, Japan Aviation Electronics Industry, Ltd., Hirose Electric Co. Ltd., Celanese Corporation, RTP Company, HARTING Technology Group, TE Connectivity Ltd., OMRON Corporation, Asia International Enterprise (HK) Limited, Cinch Connectivity Solutions, Polyplastics Co. Ltd, Axon' Cable, Solvay SA and Molex Inc.
The report provides insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
MRFR utilizes a robust research methodology. Market sizing and revenue projections are undertaken using a complex but fail-safe research system. This system is a combination of primary and secondary research activities. A range of options is considered for gathering impactful market information and data. Proprietary sources such as white papers, encyclopedia, SEC filings, annual reports, etc. are consulted for identifying mission-critical facts. Further, interactions with subject matter experts through telephonic, email and face-to-face interviews allows confirmation of research findings. For ensuring high credibility of the study, a multi-level verification technique is used. Use of bottom-up and top-down approaches ensure representation of correct market foresights.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for LCP connector
By Connector Type
Frequently Asked Questions (FAQ) :
A few significant players operating in the global LCP connectors market are Asia International Enterprise (HK) Limited, Polyplastics Co. Ltd, Cinch Connectivity Solutions, Axon' Cable, Solvay SA and Molex Inc.
The global LCP connectors market is poised to generate substantial revenue at an 8.1% CAGR over the review period (2018-2023).
The growing demand for thin and small connectors, along with the application from the consumer electronics and telecommunication sector, is likely to create opportunities for market players.
The high cost of LCP connectors systems, along with technological intricacies involved, are anticipated to impede the overall market growth.
The USB connector segment is anticipated to record the highest CAGR over the review period.
The APAC region is witnessing electronics manufacturing industries, foreign investment in emerging economies such as India and China, and increasing industrialization.
The historic value of the North American LCP connectors market is USD 13 billion recorded in the base year 2017.
The global liquid crystal polymer (LCP) connectors market is projected to exhibit a compound annual growth rate of 8.1% during the forecast period (2018-2023). Technological advances made in spears such as telecom, electronics and medical has bolstered the application prospects for smaller and thinner connectors. LCP connectors are taking a center stage in modern electronic designs. A wide range of LCP connectors are available, catering to various sophisticated wiring needs of modern electronic devices.
Crystal Polymer (LCP), Nylon 66, Polybutylene terephthalate (PBT), Polyphenylene sulfide (PPS), and Polyethyleneimine (PEI) are among the common materials used for making connectors. Of these, LPC has is witnessing a high preference owing to its distinctive features such as unreactive, inert, and high resistance to fire. Such factors are making position influence on the global LCP connector market. Moreover, increasing miniaturization of electrical components and rising application in the automobile industry is also propelling the sales of LCP connectors.
Stringent environment regulations and energy efficiency is prompting the electronic manufacturing sector to focus of solutions that are future-ready. This is leading towards miniaturization and convergence of electronic devices. Miniaturization has increased the demand for connectors, sockets with high pin density, and other ultra-thin parts. LCP connectors facilitates development of high precision injection molded parts. However, the introduction of Polyphthalamide (PPA) connectors may somewhat apprehend the market potential of LCP connectors in the future.
The segmental analysis of the global LCP connector market is conducted on the basis of connector type and region.
By connector type, the market has been segmented into rectangular connectors, circular connectors, card edge connectors, backplane connectors, modular connectors, heavy duty power connectors, FFC, FPC connectors, D-shaped connectors, coaxial connectors, power connectors, memory connectors, fiber optic connectors, pluggable connectors, USB, DVI, HDMI connectors, blade-type power connectors and solid-state lighting connectors. The rectangular connectors segment accounted for 45.3% market share in 2017. In addition, the segment is expected to exhibit 8.5% CAGR during the assessment period. Rectangular connectors are highly durable and thereby used in harsh and rugged environments. These connectors can incorporate up to 300 pins according to size and amount of data transmission. Rectangular connectors come with various locking mechanism options such as single/double/screw/bayonet latches. Rectangular connectors are used in commercial and industrial applications, aerospace, military, defense, satellites, robotics and medical equipment. The circular connectors segment accounts for the second-largest market share. The segment stood at a valuation of USD 1,349.84 Mn in 2017 and is projected to growth at a healthy rate over the next couple of years. Meanwhile, the coaxial connectors segment is projected to exhibit the highest CAGR over 2023.
On the basis of region, the global LCP connectors market is segmented into North America, Asia Pacific (APAC) Europe, the Middle East & Africa (MEA) and Latin America. Asia Pacific leads the global LCP connector market. China standouts among all the APAC countries in terms of market share. China is followed by Japan and India. Presence of a vast white goods industry and incessant expansion of the electronics manufacturing sector is supporting the growth of the market in the region. Owing to cost benefits and widespread availability of raw materials, countries such as China and India are emerged as prominent manufacturing hubs. The market in North America is expected to witness a 9.1% CAGR during the assessment period, which is also the highest among its peers. In terms of revenue, North America is the second largest contributor to the global LCP connector market. Mexico, the U.S. and Canada is likely to present attractive growth opportunities to market players in the forthcoming years.
Some of the key companies operating in the global LCP connector market include Amphenol Corporation, Molex Inc., Wurth Group (Wurth Elektronik), Axon' Cable, TE Connectivity Ltd., 3M Company, Cinch Connectivity Solutions, OMRON Corporation, Japan Aviation Electronics Industry, Ltd., HARTING Technology Group, Hirose Electric Co. Ltd., Solvay SA, Polyplastics Co. Ltd, Celanese Corporation, Asia International Enterprise (HK) Limited, RTP Company and Sumitomo Chemical Company.
The global LCP connectors market consists of various listed as well as privately held semiconductor and electronics manufacturers. Increasing miniaturization of electronic components; growth of the automotive industry; intense market competition, and continuous fluctuations in currency exchange rate are likely to influence the dynamics of the global LCP connector market. The vendors compete for providing cost-efficient, convenient, and reliable connectors and products to various industries and end-users. The product manufacturers, communication technology providers, and electronic component vendors cater in the provision of LCP connectors to various end-use industries including automotive, manufacturing, medicine, consumer electronics, and others.
According to MRFR analysis, Amphenol Corporation (US), Molex Inc. (US), Wurth Group (Germany), Axon’ Cable (France), TE Connectivity Ltd (Switzerland), 3M Company (US), Cinch Connectivity Solutions (UK), OMRON Corporation (Japan), Japan Aviation Electronics Industry Ltd (Japan), HARTING Technology Group (Germany), and Hirose Electric Co. Ltd (Japan) are some of the prominent manufacturers competing in the market. As a part of their growth strategy, vendors offer high-quality LCP connectors that are majorly used in electronics products to meet the growing requirement of the customers and industries.
These companies mostly follow both organic and inorganic growth approaches through service upgrades, partnerships, and collaborations to offer secure and cost-efficient LCP connectors. The prominent players are mainly focused on developing competitive products to benefit the environment and users. Additionally, improvements of the global economic scenario combined with advances in technology have rendered the market competitive. The competitive environment in the market is likely to intensify further due to the increasing service extensions, technology innovation, and strategies such as mergers and acquisitions
Amphenol Corporation (Amphenol) designs and manufactures cables and connectors for original equipment manufacturers (OEMs), electronics manufacturing services (EMS) companies, original design manufacturers (ODMs), and communications network providers. Amphenol offers electrical, electronic, and fiber optic connectors, coaxial and flat ribbon cables, and interconnect systems. The company is focused on research and development to innovate products and provide enhanced services in connector and cable technologies. The company continuously seeks to improvise its designing, sourcing, and manufacturing processes to meet the consumer demand in a timely manner.
TE Connectivity Ltd is a globally recognized manufacturing and technology company, offering sensors and connectivity solutions for transportation, medical technology, industrial, energy, and data communication applications. The company operates through three major segments namely industrial solutions, transportation solutions, and communication solutions. The company is one the leading providers of LCP connectors; it strategically acquires businesses, technologies, and product lines to strengthen its market position.
Molex Inc. manufactures and designs electronic components and solutions. The company operates through two business segments—connector and custom and electrical. The connector segment designs and manufactures connectors and connector systems. Molex Inc. has adopted an organic growth strategy, enhancing its performance to ensure business continuity and supply of world class connectors and interconnect solutions to its customers globally.
Japan Aviation Electronics Industry Ltd (JAE Industry Ltd) manufactures and markets connectors and user interface solutions. The company operates through four business segments: connectors, user interface solutions, aerospace line, and others. The connectors offered by the company are used in electronics, automotive, industrial, and infrastructure applications. The company aims at expanding its business by meeting the product demand, focusing on potential growth and emerging trends.
HARTING Technology Group provides various solutions in the fields of electrical, electronic and optical connection, transmission and networking, manufacturing, mechatronics, and software development. The company’s product portfolio includes industrial connectors, modular industry computing architecture, unmanaged Ethernet switches, Ha-VIS RFID, board connectors, interface connectors, cable assemblies, and distribution boxes among others. It has adopted a customer-oriented approach under which it focusses on developing and introducing new product lines to meet the changing customer demands.
Hirose Electric Co. Ltd manufactures and markets connectors under various business segments including multi-pin connectors, coaxial connectors, and others. It manufactures connectors for ribbon cables, circular and rectangular connectors, connectors for printed circuit boards, nylon connectors, and flexible printed circuit board connectors under the multi-pin connectors segment. The company is focused on accelerating the company’s progression towards future growth in terms of stronger connector business and return on investment (ROI).