The global LCP connectors market has been expected to rise at a CAGR of 8.1%, with a value of USD 6,448.4 million over the forecasted 2020-2027.
Liquid crystal polymer is a super engineering plastic with high strength, modulus and impact properties, flame retardance, resistance to a wide range of aggressive chemicals, and very low and tailor-able coefficients of the thermal expansion, excellent dimensional stability, thin-wall flow-ability, and unique processability. With the miniaturization trend of many electronic products, manufacturers are streamlining devices to pack more features into smaller packages. For instance, the pitch between contacts in electrical connectors is narrower than ever before and as small as 0.2 mm, compared to older-style power connectors, with gradients exceeding 12.0 mm.
For the same reasons, LCPs are also injection molded into an integrated circuit socket, high-frequency network switches, power modules for wind and solar inverters and converters, custom high-power electrical connectors, and many other precision devices. Daily use of electric equipment, like cell phones, laptops, or tablet PCs, is increasing rapidly. At present, these devices are becoming more powerful and inexpensive from generation to generation while decreasing in size and weight. The LCP delivers the properties that permit the successful development of the miniaturization of the electrical equipment.
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
|Market Size||USD 6,448.4 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Connector Type and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Sumitomo Chemical Company, Amphenol Corporation, Wurth Group (Wurth Elektronik), 3M Company, Japan Aviation Electronics Industry, Ltd., Hirose Electric Co. Ltd., Celanese Corporation, OMRON Corporation, Asia International Enterprise (HK) Limited, Cinch Connectivity Solutions, Polyplastics Co. Ltd, Axon' Cable, Solvay SA and Molex Inc.|
|Key Market Opportunities||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.|
|Key Market Drivers||The APAC region is witnessing electronics manufacturing industries, foreign investment in emerging economies such as India and China, and increasing industrialization.|
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 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).