Liquid Crystal Polymer (LCP) Films and Laminates Market Research Report—Forecast till 2032

Liquid Crystal Polymer Films and Laminates Market Research Report Information By Type (LCP Films and LCP Laminates), By Application (Electrical & Electronics, Automotive & Transportation, Packaging, Medical Devices, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/CnM/6281-CR | 143 Pages | Author: Priya Nagrale | April 2019         

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Global Liquid Crystal Polymer Films and Laminates Market Overview


Liquid Crystal Polymer Films and Laminates Market Size was valued at USD 3.5 Billion in 2022. The Liquid Crystal Polymer Films and Laminates industry is projected to grow from USD 3.75 Billion in 2023 to USD 6.65 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2023 - 2032). The advent of smart windows and growing demand in the electrical and electronics industry for LCP films are the key market drivers enhancing the market growth.

Liquid Crystal Polymer Films and Laminates Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Liquid Crystal Polymer Films and Laminates Market Trends




  • Growing demand for lightweight and miniaturized electronic devices is driving the market growth




Market CAGR for liquid crystal polymer films and laminates is being driven by the rising demand for lightweight and miniaturized electronic devices, such as smartphones, wearable devices, and IoT (Internet of Things) devices, which is driving the growth of LCP films and laminates. LCP offers excellent electrical insulation, low dielectric constant, and high-frequency signal transmission capabilities. These properties make LCP films and laminate ideal for flexible circuit boards, antenna systems, and electromagnetic interference (EMI) shielding. Moreover, LCP films and laminates provide dimensional stability, crucial for electronic devices exposed to varying temperatures. The growing popularity of foldable smartphones and wearable devices further fuels the demand for LCP films and laminates due to their ability to withstand repeated bending without compromising performance.


The automotive industry is experiencing a rapid transformation driven by technological advancements, including autonomous driving, electric vehicles (EVs), and advanced driver-assistance systems (ADAS). These advancements require sophisticated electronic components and systems that can operate reliably under extreme conditions. LCP films and laminates offer exceptional heat, flame retardancy, and chemical resistance, making them suitable for automotive electronics and electrical systems. They are used in sensors, connectors, lighting systems, and control units. LCP's low moisture absorption and thermal expansion coefficient also contribute to the reliability and longevity of automotive electronic components. As the demand for EVs continues to rise, LCP films and laminates play a vital role in ensuring the efficient operation of battery management systems, thermal management systems, and power electronics. The increasing adoption of LCP films and laminates in automotive electronics will drive market growth in the coming years.


The aerospace and defense sector demands materials that withstand harsh environmental conditions, high temperatures, and extreme mechanical stress. LCP films and laminates exhibit exceptional moisture, chemicals, and radiation resistance, making them suitable for aerospace and defense applications. These materials are used in radar, communication, avionics, and satellite components. LCP's high glass transition temperature and low moisture absorption ensure stability and reliability in aerospace electronics, where consistent performance is critical. Furthermore, the lightweight nature of LCP films and laminates contributes to fuel efficiency in aerospace applications.


The  market for LCP films and laminates is witnessing significant growth due to the increasing demand for lightweight and miniaturized electronic devices, advancements in automotive electronics, and growing applications in the aerospace and defense sector. The unique properties of LCP, such as thermal stability, electrical insulation, and chemical resistance, make it a preferred choice for various industries. As technology continues to evolve, LCP films and laminates are expected to play a crucial role in shaping the future of the electronics, automotive, aerospace, and defense sector, driving the Liquid Crystal Polymer Films and Laminates market revenue.


Liquid Crystal Polymer Films and Laminates Market Segment Insights


Liquid Crystal Polymer Films and Laminates Application Insights


The  Liquid Crystal Polymer Films and Laminates market segmentation, based on application, includes electrical & electronics, automotive & transportation, packaging, medical devices, and others. The electrical & electronics category generated the most income. They are used in the electronics and electrical industry for applications such as flexible circuit boards, connectors, chip carriers, and surface mount devices (SMDs). Their excellent electrical properties, including low dielectric constant and high insulation resistance, make them ideal for high-frequency applications.


Liquid Crystal Polymer Films and Laminates Type Insights


The  Liquid Crystal Polymer Films and Laminates market segmentation, based on type, includes LCP films and LCP laminates. The LCP films segment dominated the market. These films exhibit exceptional dimensional stability, low moisture absorption, high chemical resistance, and excellent electrical insulation properties. LCP films are widely used in flexible circuits, electrical insulation, wire, cable wrapping, and display technologies. The growing demand for miniaturized electronic devices, including smartphones, tablets, and wearable devices, is driving the adoption of LCP films in the electronics industry.


Figure 1:  Liquid Crystal Polymer Films and Laminates Market, by Distribution Channel, 2022 & 2032 (USD Billion)


Liquid Crystal Polymer Films and Laminates Market, by Distribution Channel, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Liquid Crystal Polymer Films and Laminates Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Liquid Crystal Polymer Films and Laminates market area will have significant growth in the market due to the key industries such as electronics and automotive. In addition, the market demand for high-performance electronic components and the increasing adoption of LCP films in the aerospace industry. The well-established research and development infrastructure and technological advancements further fuel market growth in this region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2:  LIQUID CRYSTAL POLYMER FILMS AND LAMINATES MARKET SHARE BY REGION 2022 (USD Billion)


LIQUID CRYSTAL POLYMER FILMS AND LAMINATES MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's Liquid Crystal Polymer Films and Laminates market accounts for the second-largest market share. The automotive sector plays a vital role, with LCP films finding applications in connectors, sensors, and electronic control units. Additionally, the rising demand for lightweight and high-performance materials in various industries, including telecommunications and industrial machinery, drives the market growth in Europe. Further, the German Liquid Crystal Polymer Films and Laminates market held the largest market share, and the UK Liquid Crystal Polymer Films and Laminates market was the rapidly growing market in the European region.


The Asia-Pacific Liquid Crystal Polymer Films and Laminates Market will dominate the CAGR from 2023 to 2032. It is due to the significant industrialization and expanding electronics manufacturing sector. The growing consumer electronics market and the presence of major electronics manufacturers drive the demand for LCP films and laminates—moreover, the automotive industry's growth and increasing investments in infrastructure development. Moreover, China’s Liquid Crystal Polymer Films and Laminates market held the most market share, and the Indian Liquid Crystal Polymer Films and Laminates market was the rapid-growing market in the Asia-Pacific region.


Liquid Crystal Polymer Films and Laminates Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Liquid Crystal Polymer Films and Laminates market grow even more. Market participants are also undertaking various strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, Liquid Crystal Polymer Films and Laminates industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  Liquid Crystal Polymer Films and Laminates industry to benefit clients and increase the market sector. In recent years, the Liquid Crystal Polymer Films and Laminates industry has offered some of the most significant advantages to medicine. Major players in the Liquid Crystal Polymer Films and Laminates market, including Solvay SA, Poly Plastics Co. Ltd., Celanese Corporation, Rogers Corporation, Asia International Enterprise (HK) Limited, RTP Company, Kuraray Co. Ltd, Sumitomo Chemical Company, Shanghai PRET Composites Co. Ltd., PolyOne Corporation., and others, are attempting to rise market demand by providing in research and development operations.


Polyplastics Company Limited, founded in 1964, located in Minato, Tokyo, Prefecture, Japan, is a chemical company that manufactures primarily polyacetal, thermoplastic polyesters, glass fiber reinforced polyethylene, liquid crystal polymer, cyclo-olefin copolymer, and polyphenylene sulfide. In August 2022, Polyplastics Co. Ltd expanded its engineering thermoplastics portfolio and material supply capabilities at the K 2022 exhibition in Düsseldorf, Germany. With the expansion, the company increased its liquid crystal polymer (LCP) sales to Europe, the Middle East, Africa, and the Americas while making timely investments in capacity to better respond to market growth.


Sumitomo Chemical Company Limited, founded in 1913 in Tokyo, Japan, is a Japanese chemical company. It is a fertilizer manufacturing plant. It produces petrochemicals, alumina products, organic chemicals, IT-related chemicals, agrochemicals, and pharmaceuticals. In January 2022, Sumitomo Chemical Co., Ltd. built production lines for its liquid crystal polymer (LCP) SUMIKASUPERTM at its Ehime Works in Japan. The capacity expansion is scheduled to be completed by the mid of 2023 and will help increase the production capacity by approximately 30%.


Key Companies in the Liquid Crystal Polymer Films and Laminates market include



  • Solvay SA

  • Poly plastics Co. Ltd.

  • Celanese Corporation

  • Rogers Corporation

  • Asia International Enterprise (HK) Limited

  • RTP Company

  • Kuraray Co. Ltd

  • Sumitomo Chemical Company

  • Shanghai PRET Composites Co.Ltd

  • PolyOne Corporation


Liquid Crystal Polymer Films and Laminates Industry Developments


July 2020: Japan's Daicel acquired the stake of its affiliate Celanese Industries, a pioneer in polylactic acid, in the polylactic acid joint venture. The transaction has an approximate valuation of $1.5 billion. An engineering plastics joint venture in Japan will eventually go public and be purchased by a single owner.


January 2020: the Polyplastics Company, a leading developer of liquid crystal polymers (LCPs), announced new developmental grades of LCP, which give superior blister resistance for electronic connectors.


April 2019: Apple is expected to implement a liquid crystal polymer (LCP) board into its iPad Pros towards the end of the year to expand network performance while minimizing signal loss.


Liquid Crystal Polymer Films and Laminates Market Segmentation


Liquid Crystal Polymer Films and Laminates Type Outlook



  • LCP Films

  • LCP Laminates


Liquid Crystal Polymer Films and Laminates Application Outlook



  • Electrical & Electronics

  • Automotive & Transportation

  • Packaging

  • Medical Devices

  • Others


Liquid Crystal Polymer Films and Laminates Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 3.5 Billion
Market Size 2023 USD 3.75 Billion
Market Size 2032 USD 6.65 Billion
Compound Annual Growth Rate (CAGR) 7.40% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Solvay SA, Poly plastics Co. Ltd., Celanese Corporation, Rogers Corporation, Asia International Enterprise (HK) Limited, RTP Company, Kuraray Co. Ltd, Sumitomo Chemical Company, Shanghai PRET Composites Co. Ltd., PolyOne Corporation.
Key Market Opportunities Growing application portfolio to create avenues to various industries.
Key Market Dynamics The advent of smart windows to drive market growth.




Frequently Asked Questions (FAQ) :

The Liquid Crystal Polymer Films and Laminates market size was valued at USD 3.5 Billion in 2022.

The Liquid Crystal Polymer Films and Laminates market is projected to grow at a CAGR of 7.40% during the forecast period, 2023-2032.

Asia-Pacific held the largest share of the Liquid Crystal Polymer Films and Laminates market.

The key players in the Liquid Crystal Polymer Films and Laminates market are Solvay SA, Poly Plastics Co. Ltd., Celanese Corporation, Rogers Corporation, Asia International Enterprise (HK) Limited, RTP Company, Kuraray Co. Ltd, Sumitomo Chemical Company, Shanghai PRET Composites Co. Ltd., Poly One Corporation.

The LCP films category dominated the Liquid Crystal Polymer Films and Laminates market in 2022.

Electrical & electronics had the largest share in the Liquid Crystal Polymer Films and Laminates market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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