ID: MRFR/CnM/1482-HCR | February 2021 | Region: Global | 135 pages
By 2022, the market for liquid crystal polymers is expected to reach USD 1.28 billion. Various industry sectors, such as consumer products, electronics, and electrical, drive the market. Growing engineering resins and the need for ultra-thin electrical components are driving this market. Liquid crystal polymer demand is being driven by next-generation technologies such as 5G and 3D printing. Liquid crystal polymers are in high demand for various applications, including electrical and electronics, automotive, consumer products, sports and recreation, and medical equipment. The market for liquid-crystal polymers is fueled by the demand for high-quality and long-lasting electrical and electronic devices in rising economies.
LCP is a super engineering plastic with high strength, modulus, impact qualities, and flame retardance. Manufacturers are simplifying gadgets to fit more functions into smaller packages due to the miniaturization trend in many electrical products. The use of electronic devices such as cell phones, laptops, and tablet PCs daily is rapidly expanding. At the same time, as technology advances, these devices become more powerful and less expensive while shrinking in size and weight. LCP provides the features necessary for the successful development of electrical equipment miniaturization.
Study Objectives of Global Liquid crystal polymers Market
The key players in global liquid crystal polymers market includes Polyplastics Co., Ltd., Sumitomo Chemical Co., Ltd., Celanese Corporation, Solvay S.A., Ueno Fine Chemicals Industry Ltd., Toray International, Inc., SAMSUNG FINE CHEMICALS CO. LTD., Shanghai PRET Composites Co., Ltd, Vectra/Zenite LCP and Polyone Corporation.
Mar 2022 Celanese has agreed to buy the majority of DuPont's Mobility and Materials section for $11 billion, bringing together two of the world's biggest engineering polymer firms. In November 2021, DuPont, designated for sale, had $3.5 billion in sales and $800 million in profit before taxes. Celanese, which had revenues of $8.5 billion last year, will more than treble the size of its engineered materials section due to the acquisition. Celanese will gain approximately 5,000 personnel and 29 manufacturing facilities as part of the merger, which the firms want to complete by the end of the year. Many materials utilized in demanding applications, such as electronics and automotive equipment, are included in the transaction.
The report covers brief analysis of geographical region includes
|CAGR||(2022-2030): Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Application and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Polyplastics Co., Ltd., Sumitomo Chemical Co., Ltd., Celanese Corporation, Solvay S.A., Ueno Fine Chemicals Industry Ltd., Toray International, Inc., SAMSUNG FINE CHEMICALS CO. LTD., Shanghai PRET Composites Co., Ltd, Vectra/Zenite LCP and Polyone Corporation|
|Key Market Opportunities||Applications such as connectors with high pin density have been driving a notable growth|
|Key Market Drivers||New product developments, strong technological innovations, and demand for ultra-thin electrical components are adding market growth.|
Frequently Asked Questions (FAQ) :
The liquid crystal polymers market is predicted to touch USD 1.28 billion by 2022.
The APAC region is expected to lead the liquid crystal polymers market.
It finds extensive applications in surgical devices, consumer goods, automotive, electronic and electrical, and others.
New product developments, strong technological innovations, and demand for ultra-thin electrical components are adding market growth.
Different strategies adopted by industry players to maintain dominance in the liquid crystal polymers market include new product development, strategic alliances, and mergers and acquisitions.